Sponsored Post
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[3] 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!
Whenever you are trading, there’s no 100% guarantee that you’ll get your money back. Loses don’t just come from other investors’ better strategies but can also be caused by extraordinary factors, such as hacks, bugs, or even government regulations.
So, before every investment you make, take a step back, and re-evaluate your current financial situation. If you can’t afford to invest at all, don’t take any desperate decision such as using a credit card, taking out a mortgage, or applying for loans. Simply wait for the
