A couple tips for those who consider investing in cryptocurrencies

MiroslavBulldosex

MiroslavBulldosex

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I'm seeing more and more threads about cryptos everyday and I can't help but think about what happened in 2017-2018. Some guys made a shit ton of money but many more lost everything. Here are a couple of rules you need to follow in order to maximize your gains and make sure you don't lose your mind.

1) Never invest more than what you can afford to

By far the most important.
You shouldn't understand it in the sense of "oh no problem, I still have some savings so I won't be completely broke if I lose everything". What it really means is "only invest an amount of money that wouldn't alter your living standards at all if you lost it".


2) Don't do day trading

Over 90% of day traders lose money.
The ones who manage to make a living out of it are either aspies (like people who actually have aspergers) or psycopaths (people who don't have any emotions). If you don't fall within one of these two categories then day trading isn't for you.
You'll make money just buying and holding, especially in cryptos.


3) Only invest when it's the moment to do so

Do your own research.
Don't invest when everybody is talking about it.
Spoiler: right now is NOT a good moment to buy BTC
Dontbuynow


4) Never go all in

Missing trains can be frustrating but going all-in everytime simply fucks with your head and makes you miserable when it dumps.
Ideally you should only buy/sell a percentage of your bag.
A coin you invested in did a x5 over the last months and now everybody wants to invest? Maybe it's time to take profit and sell 25 or 50% of your bag.
 
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Take this free bump bhai
 
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“Right now is not a good time to invest in brc” then it rises 5k in a few days
 
“Right now is not a good time to invest in brc” then it rises 5k in a few days
Well go ahead then, but don't cry when a 20k red candle obliterates your ass.
Investing now at 38k+ when it was under 4k less than a year ago is idiotic.
 
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“Right now is not a good time to invest in brc” then it rises 5k in a few days
invest at an all time high theory
 
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S

Seriously though I really wanna see if these comments age well.
JP Morgan predicted 146k BTC.
They said not this year though.
It's gonna dip.
Why is it even going so high though? No one can give me an answer.
 
S

Seriously though I really wanna see if these comments age well.
Even if it goes to 50k by the end of the week it's still not a good time to invest.
 
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What website, program or app u recommend for monitoring ?
 
I bought 500$ worth of btc 2 days ago and have made profit. Should I cash now? It is almost touching 40k or should I wait?
 
I bought 500$ worth of btc 2 days ago and have made profit. Should I cash now? It is almost touching 40k or should I wait?
Bro, I'm no expert.
Just take profit progressively. 25% at 40k, 25% at 45k or whatever you feel like. It's really up to you.
I only invest when I see big opportunities and when it hasn't already pumped a lot.
 
What website, program or app u recommend for monitoring ?
I use Binance. They're alright.
Besides that I track my portfolio with blockfolio on my phone.
 
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40k now cheers
 
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Even though it’s simple, this thread should be added to best of the best tbh. Thanks for the tips. I was gonna go the daytrading route but tbh I’m gonna avoid it.
 
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the most important thing for crypto is to get into good groups and learn from people as well as get in on easy pump and dumps
 
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Hope you listened and didn't buy at 38k+
 
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I would add here a few more ideas:
5) Nothing is more important than your health… except for your money.
6) Once you have their money, you never give it back.
7) Never underestimate the other guy's greed.
8) Never allow family to stand in the way of opportunity.
9) Nature decays, but money lasts forever.
10) A man is only worth the sum of his possessions.
 
Hope you listened, now pay attention to what's happening over the next days/weeks
 
A couple of interesting indicators for BTC and crypto in general :
 
C R Y P T O
 
Water thread
 

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