Crypto Trading Loss Rescue: Friends Cryptocurrency market is a very sensitive market. Here, when the price will go up and when it will go down, no one can predict in a set way. But no problem in the world arises without a solution. And You Can Rescue Heavy Loss Happening In Cryptocurrency.
Today, I will tell you three important tips to avoid losses in cryptocurrency trading. If you follow them properly, then your chances of loss will be reduced by 70 percent.
4 Tips For Crypto Trading Loss Rescue
Friends, in the early days of my career, I have also seen huge losses. My first $1000 investment was just $17. But instead of blaming the system, I recognized my shortcomings.
After that, I started implementing the methods I learned. And since I started working on the basis of my own research, I started getting good results, and today I can trade successfully.
1. Don’t Depend on Others.
My first mistake in crypto and stock trading was to believe in others. Actually, Psychology says no one shares their own secrets with others. No one, no matter how close he is to you, will not share the finer secrets of his success with you.
This is the reason that when others leave us on our own, we automatically take the wrong decision and have to compensate for the loss. If you want to do successful trading and earn profit then first of all learn to depend on yourself.
Start with as much money as you can afford to lose. This will give you confidence and develop the ability to make decisions on your own because it is very important.
2. Learn Before Trading.
My second-biggest mistake was that I started crypto trading and stock market trading after seeing others. I had learned to buy and sell cryptocurrency but didn’t learn how cryptocurrency man stock market works.
In my initial phase, I made some money because of cryptocurrency trends but that was a matter of luck. Then when I started to lose I figured things out, and then I figured out what we need to learn how crypto or the stock market works.
After that, I learned how the cryptocurrency market and stock market work for almost 2 years. And since I learned to trade, I make a profit in almost 70% of deals. And all this has been possible only because of my ability to learn.
3. Don’t Listen to Your Soul Figure out Facts.
In trading the stock market and trading in the cryptocurrency market, sometimes we leave the facts and listen to our minds. We look at the graph of Crypto coins and infer from it that now it is just going to go up.
Sometimes we fall into the trap of too much greed and do our harm. I remember the day when I bought such a cryptocurrency for 300% interest, which became completely zero in the next 2 months.
4. Book Less Loss in Instead of Profit.
Initially, when I was learning currency trading, I focused more on booking profits. I remember when I sent Ethereum coin to ₹80000 and saw it grow to ₹300000 in a half.
Here I only took care that I am in profit of ₹ 30000 whereas I never think of loss like this. When the market crashes and losses start, I wait for it to come up sometime or the other.
That’s why I have made very big losses, but from this, I have learned one thing, it is better to take a little less than to take a big loss.
How much have you seen the fluctuation of the market, if we talk about cryptocurrency, it is a common thing to increase or decrease 10 to 20% here. If the cryptocurrency you bought goes down by more than 15%, sold it and get out quickly.
Because by doing this you can save your cryptocurrency losses or loss of principal to zero, and you also have funds available to buy again when the price goes too low.
Conclusion
if you want to do crypto trading loss rescue then you have to follow the following things:
Learn properly about the crypto project before investing. Never believe in untrained people. Always learn from people who are experts in that work and have achieved some success from it.
You should keep your distance from people who do not pay attention to basic things, only talk in the air. You should not trust anyone else, learn to analyze things on your own and implement them in your life.
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