Yesterday evening, just as the crypto market day was coming to an end with some bullish momentum, an unexpected tweet from Elon Musk, CEO of Tesla and SpaceX, caused the crypto market to crash the hardest and fastest in the shortest time. This caught most investors off guard and many crypto traders have had a really bad day today.
But what if I told you that I am actually closing today on a BULLISH note. My crypto portfolio has gained about 10% today. Now as hard as you think that might be or as lucky as you think I am, I am here to tell you that it really takes nothing much. I will explain it briefly but effectively below.
The most important steps to gaining on any day and especially CRASHES are quiet simple, some of the most important steps are:
- Diversifying your portfolio into many different crypto coins, but only coins that are known to be somewhat stable OR move in a correlation with Bitcoin. The variety of the coins you choose are up to you, but I have previously posted a few Alt coins that I trade. More to come soon!
- If you are trading with or without specific budget, always make sure to keep enough extra cash to buy the dip. Buying the lows can actually help recover losses quicker and allows you to aim for higher profits overtime.
- I personally believe that the following RULE is the Golden Rule and should never be broken. Most beginners do not have enough experience and do not know how to properly deal with profits. The most important thing a trader can do before investing is set a specific target they want to reach before starting. Speaking from experience, not having a specific target can ultimately make you hungrier for more, leaving you paralyzed and unable to hit the sell button, hungry for more. This can be disastrous as when the market quickly rises, a quick drop is inevitable, stay aware of your goals and follow them.
- Do Not let FOMO eat you up,
FOMO: Fear of missing out
The very best traders always miss out on opportunities. It is very important to understand that you will not be able to grab 1% of all opportunities in the market. The most important thing to focus on is to make the most of the opportunities in life.
I hope you found this helpful, a like would really be appreciated. I will not suggest following me because you should be intelligent enough to know that following me is the right choice.
I post daily content on crypto and stocks !
But what if I told you that I am actually closing today on a BULLISH note. My crypto portfolio has gained about 10% today. Now as hard as you think that might be or as lucky as you think I am, I am here to tell you that it really takes nothing much. I will explain it briefly but effectively below.
The most important steps to gaining on any day and especially CRASHES are quiet simple, some of the most important steps are:
- Diversifying your portfolio into many different crypto coins, but only coins that are known to be somewhat stable OR move in a correlation with Bitcoin. The variety of the coins you choose are up to you, but I have previously posted a few Alt coins that I trade. More to come soon!
- If you are trading with or without specific budget, always make sure to keep enough extra cash to buy the dip. Buying the lows can actually help recover losses quicker and allows you to aim for higher profits overtime.
- I personally believe that the following RULE is the Golden Rule and should never be broken. Most beginners do not have enough experience and do not know how to properly deal with profits. The most important thing a trader can do before investing is set a specific target they want to reach before starting. Speaking from experience, not having a specific target can ultimately make you hungrier for more, leaving you paralyzed and unable to hit the sell button, hungry for more. This can be disastrous as when the market quickly rises, a quick drop is inevitable, stay aware of your goals and follow them.
- Do Not let FOMO eat you up,
FOMO: Fear of missing out
The very best traders always miss out on opportunities. It is very important to understand that you will not be able to grab 1% of all opportunities in the market. The most important thing to focus on is to make the most of the opportunities in life.
I hope you found this helpful, a like would really be appreciated. I will not suggest following me because you should be intelligent enough to know that following me is the right choice.
I post daily content on crypto and stocks !