7 Tips to be successful in crypto
Here are some pro 7 tips from my experience that I think, everyone should follow to be successful in crypto. Otherwise, many people end up losing their money in greed of getting rewarded by the market.
1. Never Panic Sell
You might have heard about this a lot of time, but still, a lot of people do this when there is a fear in the market and they end up losing significant money. The market will recover always no matter what. It can take a month, 6 months, a year at max, but it will come back up. So never panic sell at a loss.
2. Don't use high leverage
Leverage seems to be highly rewarding, but it comes with a high risk of losing every bit of dollar you have in your account. Do not use high leverage. We recommend, if you are a day trader, do not use leverage more than 10x and if you are a mid-term leverage position holder, do not use leverage more than 3x.
3. Be patient
The market attracts the people who do not have patience but reward the people that have patience. If you are a day trader, spot holder, keep patient and exit the market with a good profit.
4. Stop checking your portfolio every hour
This is a very serious problem with people these days, they are obsessed with their portfolios. which affects their daily life and relations. It could be a huge headache for you. Please don't do that.
5. Do your own Research
Do not follow YouTubers, influencers, etc. Instead, do your own research and pick up the correct coin for yourself for the short-term and long-term. You can follow the steps to do research on youtube, but do not buy a coin, just because you watched a video on youtube.
6. Buy on Red Days, Don't follow green candles
Buy a coin at a discount price when the market is bearish and everybody is giving up on crypto, that is the opportunity to make serious money in crypto. and Sell when everybody is amazed at crypto and doing "Lambo". This is a very important step to make money, otherwise, you will be losing.
7. Invest in coins that have a real use case and solve a problem
These are the coins that are meant to stay for long and have a bright future, Do not hold shitcoins for long terms, you should always consider strong projects for long terms.
These are the 7 pro tips to follow to be successful in crypto. If you want to add more, kindly leave it in the comment section below. That might help a lot of people. Thanks for reading this article.
Really helpful, Thankyou Brock :)
Thanks for the valuable information 👍
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