TOP 6 RULES TO FOLLOW IN CRYPTO TRADING
So you want to make some money through CRYPTO TRADING?
Good, it’s about time…let me introduce you to a few simple rules to follow:
Rule #1: BE IN THE GAME
If you want to earn money in CRYPTO TRADING you have to be in the GAME! It means set up an account and start trading! I hear so many people wishing or day-dreaming on how one day they will invest in BITCOIN and make loads of money or just enough to quit their annoying job but never do anything about it. Stop being on the side lines and get into the wonderful world of crypto trading.
Rule #2: DON’T BET THE FARM ON IT
Or “ Don’t bite off more than you can chew” or whatever phrase you want to use. What I’m trying to say is don’t invest more money than you can afford to lose! I hear so many horror stories about people taking huge loans that they clearly can’t afford and putting it all on some anonymous alt-coin. Eventually, they pray that it’s not a scheme and hope it will rise in price all while looking how it plunges and never comes back. Be SMART! Start small and build your understanding of cryptocurrencies until you feel confident enough to invest some more! But never the amount that you can’t afford to lose, which means that even if it’s all gone you still can get a good night sleep with your beloved teddy bear.
Rule #3: STUDY, STUDY AND STUDY SOME MORE
Probably the most important rule, you have to be a student of the game. What I mean by that is that you have to find a couple of reliable good sources (*ahem* WHALETANK *ahem*) and educate yourself about CRYPTOCURRENCIES, CRYPTO WALLETS, BITCOIN, ALT-COINS etc. It’s a MUST! Without it, you are like a fish trying to climb a tree…not the best analogy but whatever, you know what I mean!
Rule #4: DON’T PANIC!
If you follow great leaders and investors in particular, you will notice that they never panic! They keep their cool, no matter what! They’ve been there, they’ve done that! They know that cold analysis and pure logic beats emotions every day of the week! So whenever you think you face a dire situation know this, there is always a good solution to every problem!
Rule #5: TAKE YOUR PROFITS, CUT YOUR LOSSES
Fear is bad but Greed is even worse. Towards the end of 2017, lots of investors became greedy and felt they were rich because they caught a bull run which they thought would last forever. Unfortunately, they overheld their positions straight into the “land of bear markets” and now waiting for arrival of their express train to take them back to the “jolly bull era”.
Conclusion? You profit only when you realize your gains by selling at the right time.
Vise Versa, if you no longer believe in your investment or swore to cut losses at 20% then do it! Believe in yourself and your system, you’ll earn more money some other time on another coin!
Rule #6: DIVERSIFY
And I don’t mean your CRYPTOCURRENCIES PORTFOLIO but your whole INVESTMENT PORTFOLIO. Putting all your hard earned cash in a volatile market as CRYPTOCURRENCIES is a huge mistake! Investing up to 10%-15% of your portfolio in CRYPTO considered safe! The other 85%-90% consider to invest in more tangible assets like GOLD, REAL-ESTATE and the STOCK/BOND MARKET.
If you feel confused and don’t know how to invest in the exciting market of cryptocurrencies, just subscribe to our FREE WHALETANK CHANNEL and give it a try, I’m sure you won’t be disappointed 😊