In our previous article, we outlined proper risk management for your crypto trading. We want you to not focus on the bitcoin price for the long-term, but only for the day. We aren’t concerned about what it could be a month from now, because we are trading for now. We want you to make a profit now. So, with that being said, we will talk about how to increase your bitcoin wallet on a falling price.
Don’t FOMO into the market when the price drops. Why? Because that would mean you’re entering into a trade based on emotion. Emotional trading always leads to a bitcoin wallet reduction. You will give the non-emotional market your money, and the market will laugh all the way to the bank and wallet address at your demise.
Trading strategies help you have a consistent, and non-emotional, way to make money. You will need to set-up the following: a calculated stop-loss, a take-profit level, and only use a small portion of your portfolio in a trade. We use only 3% for most of our trades. A stop-loss prevents liquidation, and a take-profit gaurantees you will have a profit once that level is hit. Without a take-profit, will you know when to trade?
What is shorting? Shorting means you are betting that the price will go down, and you will make money once the price drops. This is how so many are able to make money no matter the bitcoin price. Everyone knows how to long, that’s easy. Shorting sounds couterintuitive, but it makes sense. If you can buy something, you can also sell something to make a profit.
When you short with leverage, say…25X leverage, you can make massive 40%+ gains in a very short period of time. We suggest you join our free group to see how we are doing just that for our members on a daily and weekly basis. We aren’t a get rich quick group. No, we don’t care about constant 100%+ profit gains. Those will come when they come, but a consistent 30%+ in gains while limiting the losses will allow you to gain profits beyond waiting and holding for a single 100% gain.
Join BitSeven (the best bitcoin trading exchange on the market right now): here
Join ByBit (the hottest crypto trading exchange of the moment): here
Join Bitmex (the only thing here is to jump in and out of trades quickly): here