Do you follow some crypto trading rules? If you don’t have any, you should use these five golden rules for successful trading.
Crypto trading isn’t about getting lucky a few times. If you want to find success with trading cryptocurrencies, you must base your good results on fundamentals, good habits, and experience. Making money as a crypto trader requires some discipline, and that means following some trading rules.
1. Invest Only What You Can Afford to Lose
Like with any other type of investment, crypto trading is a risky business. And sometimes traders take a loss even if they did everything “right.” Take the recent crash in January 2018, also known as the Bitcoin Crash and the Great Crypto Crash, for example. After an unprecedented boom in the precedent year, in 2018, the price of Bitcoin fell by nearly 65% in the first month of the year. The results? Broken monitors, smashed laptops, and the most massive monetary losses ever suffered by the traders on that market. So, markets like the crypto market are unpredictable sometimes. That’s why this is perhaps the most essential rule in crypto trading: don’t invest more than you afford to lose! […] Continue Reading