This is part of our crypto trading series. Check out part 1 here, where we give you an indepth roundup of every subject, including forex. It’s very easy to get rekt in bitcoin trading because people FOMO invest and “buy the dip”. That’s the bitcoin trading strategy that many investors apply.
This article is going to cover the reasons you get rekt, and then the best crypto trading strategies 2019.
Trading is about holding an asset for a very short period of time, usually less than a day. We’d prefer that a trade only take somewhere aroud 35 to 120 minutes, but sometimes trades take a little longer. Buying the dip doesn’t work for traders, because with this strategy, you don’t operate with a stop-loss. A stop-loss is the best crypto trading method to protect your capital.
These traders also don’t use small parts of their portfolio. They instead go all in on a trade with no crypto calls and the afforementioned technique. The result is the market moves against you and you get rekt because you become an investor. An investor is someone holding (holding) for months or years. Don’t be that trader. We need our capital to keep flowing and building up our bitcoin wallet.
Investors also get rekt in buying the dip, but they only find out years or months later instead of instantly. Why? They don’t practice proper bitcoin wallet management and do the same thoughtless trading. Imagine being in the internet boom or automotive boom era. There are so many companies, and great projects that ultimately failed and we don’t even know the name of. Some we do, like Netscape, Yahoo! (they failed, let’s just face it), AOL, Maxwell Car Company (Plymouth), Saturn, etc. The same COULD happen to bitcoin, although it doesn’t seem likely. While MySpace is still around, it ain’t what it used to be, so bitcoin could bite the dust.
If you bought the dip in the early crypto market, you would have lost your money to nearly all but 7 of the 50 cryptocurrency projects that existed in 2013. That’s crazy, right? We need to take the FOMO glasses off and instead look at this with a level head.
We have the best crypto trading signals group for telegram in 2019, and we are going to prove it with this series. Join our group for free to test the waters a bit.
Bitcoin trading is a simple but difficult thing to do successfully. Over 90% of all traders lose money. They practice the fine art of FOMO Investing with their Crypto Trading. We will help you safely trade crypto without having to worry about liquidation, or emptying your portfolio. It’s all about risk management and not getting too greedy or too fearful.
The best crypto trading signals on telegram are the folks here at altsignals. Join the free group option from the paid form, here.
We will cover the following topics:
Bitcoin Wallet Management
Take Profit Levels
Bitcoin Wallets Management
The goal of your bitcoin wallet is to have more bitcoin in your wallet than you started with after closing a trade. You shouldn’t have less in there. When you trade on BitSeven (join here), no matter what, you take your profits off of the exchange every night or morning when you’re not trading. You need to protect your crypto wallet.
A stop-loss is a MUST when it comes to crypto investing. In our crypto calls within our bitmex trading signals group, we ALWAYS have a stop-loss set. A stop-loss means you will never be liquidated. Liquidation means you will lose ALL of your trading money. It’s better to take a calculated loss than to lose your entire position.
Take Profit Levels
A take-profit means you will exit your position at a profit. It doesn’t matter if the price of an asset goes up over 30%, you can still LOSE money if you don’t take profit. Because what goes up, will go down. Most traders and investors don’t have a price level where they will take a profit at. And if you add leverage, then you MUST take profits or you are gauranteed to be rekt!
You can join us and start safely trading crypto with our top crypto calls. We want you to make money so that you make us money. The better you do, the longer you will stay in our telegram signals groups. We want you to succeed because it’s a win-win scenario.
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