Becoming a Successful Trader is one of the best skills you can acquire! I have document some tips for you.
Tips for Cryptocurrency Trading
Tip#1. Have a motive for entering each trade
Tip#2. Set profit targets and make use of stop losses
Tip#3. Welcome to FOMO!
Tip#4. Manage Your Risks
Tip#5. Underlying Assets Create Volatile Market Conditions
Tip#6. Don’t Buy Simply Because the Price is Low
Tip#7. A Tip About Crowd-Sales/ICOs
Tip#8. Diversify, Diversify, and Diversify!
Make use of the goal setting feature by placing sell orders: Make sure that you set your revenue targets by placing sell orders in the order books. You never know when your order price will be met, earning you exactly what you needed. Besides, sell orders attract fewer transaction fees since they are the market “makers”.
Take it easy while trading: They say the best traders mastered the art of maintaining their cool even when things seem to be out of hand.
These tips are more of safety rules; and as the soldiers would have it, such rules are written in blood.
Even though we’re not talking about risking human lives here, losing your coins due to trading without a proper guideline isn’t a fun moment.
So, how can we avoid making costly mistakes?
How can we ensure that we always remain on the green side?