( if you can't sleep at night- your positions are too Big)
2. Always pay attention to Bitcoin.
(The best times for Altcoin growth is when Bitcoin shows organic growth or decline, or remains stagnant in price).
3. Diversify- meaning " Never put all your eggs in one basket.
(The best way to safely capture the overall growth of cryptocurrency is to diversify and reap the benefits of growth from multiple coins).
4. Don’t be greedy.
- No one ever lost money taking a profit. As a coin begins to grow, the greed inside us grows along with it. If a coin increases by 30%, why not consider taking profit? Even if goals are set to 40% or 50%, you should at least pull out some of the profit on the way up in case a coin doesn’t reach the goal. If you wait too long or try to get out at a higher point, you risk losing profit you already earned or even turning that profit into a loss. Get into the habit of taking profits and scouting for re-entries... if you want to continue reaping potential profits.
5. Don’t Invest Blindy.
DYOR (Do Your Own Reasearch)
when making an Investment.
There are people in this world who would sell a blind person a pair of glasses if they could make money.
6. Don’t FOMO. This is a spot that people most frequently lose money on.
A dash of manipulation, two tablespoons of media hype, a cup of CME and CBOE announcements, and here comes the pump n dump....
... or the dump n pump.
7. Categorize your investments and look at the long picture. In the process of your research, you’ll eventually realize you’re coming across a few different categories of coins. Some you believe have good teams, great visions, amazing publicity and a track record for successful execution. ( ie, a "working coin")
Put these into youe medium or long-term investment plan.
8. Always learn from your mistakes.
Never accept a total loss. Always evaluate the situation and try to figure out why it happened. Take that experience as an asset for your next move, which will be better because you are know more now than you knew before. Don’t let the losses discourage you, because the reality is they’re making you better trader if you choose to learn from it.
9. Always Use Stoploss.
For any coins not in your medium or long-term holds, always set stop losses.
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