Friends want to share with you the rules that I emphasized for myself when trading on the exchange and investing
1 Diversification is when investing in several coins or projects
For me diversification means you investing not just on several coins or projects, but in other markets as well like stocks or bonds or property.
2 profit after sale is always good to see that your profits grow but this growth can end
a sharp drop in the coin, since the market is very volatile, so you do not need to be greedy, you need to fix your
currency on profits and do not wait for a better moment or you can regret it
Adjust your trading wisely, we are in the bear season, don't be a permabull in this trend because you might get frustrated.
3 Sell when it's time - many trading on the exchange can be affected by their emotions, and as a result lose profits
That's where the entry/exit plan comes in. You need to be greedy, as long as you hit your exit plan then cash out and don't be greedy.
4 you need to choose the most reliable method and effective for storing coins (this is your profit)
it must be stored very reliably
Hardware wallet is a must specially if you are a bag holders of several coins. And please don't let huge amount of funds sit on your trading exchanges so that a likelihood of a hack won't affect you big time.
5 Think about profits every person always faces a choice, choose a profit or choose to be right, I choose to make a profit
Right, again don't be greedy. Get you profits now and live another day.
6 Manage your emotions as our main problem is the constant ups and downs of the unregulated crypto market
every time you look at the prices of your coins it makes you nervous and keeps always in suspense, do not let fear knock you off course
This is very tricky. Most of the time is hard to control emotions though.
7 is not confident in its own best not to trade on the exchange, this will lead you to a loss
You can start with few hundred dollars, then move up as you gain experienced. Losing money sometimes is a good thing. As long as you learn your lessons and not make the same mistakes again.