cryptocurrency trading

How to survive in crypto market?

Daksh Murkute | | |

Are you making or losing money?

 

In trading, there is only one unit of measure. Either you win or you lose. There is no other way.

 

Making money is right. Losing money is wrong, and if you're losing money and still telling yourself you're a good trader, you're lying to yourself.

 

But what caused it to happen in the first place? Why do people lose money?

 

There are several reasons for it. And in this blog, I'll share some of them with solutions that will help you survive in this vast crypto ocean.

Contents

Secret 1

Secret 2

Secret 3

Secret 4

Secret 5

 

Many people have entered the crypto ocean before you and me. Some of them have had a very good experience, while others have had a terrible experience.

 

The main reason for this was volatility. In terms of assets, the crypto market is still relatively new and one of the most volatile markets on the planet.

 

So, before embarking on this risky trading journey, it is critical to plan ahead of time, take precautionary measures, and be prepared for turbulence. I have already written some blogs about trading strategies and tips and today, in this blog, I will tell you about such secrets that will assist you in sailing your ship into this vast crypto ocean.

 

but before that, tell me,

 

What’s your plan?

 

What’s your plan?

 

If you are new to trading, your ultimate goal should be to learn how to consistently profit in the market.

 

To do that, a proper trading plan is an essential tool in your toolbox.

 

You must create such a well-researched plan, and you must approach it as if it is your business, regardless of your trading routine or frequency. After all, you are investing your time and money into trading. And also a well-thought-out plan has a better chance of success than no plan.

 

So, you should make your trading plan in such a way that your trading plan will function similarly to a business plan. It will help you to make proper decisions, and it will assist you in trading logically. It also helps you to understand how to deal with both positive and negative outcomes.

 

Divide your portfolio

 

Divide your portfolio

 

 

Put all your eggs in one basket, the handle’s going to break, then all you have got is scrambled eggs.

 

Now, diversification is a very important and principle practice to do investing that helps to reduce the risk of your crypto portfolio.

 

If you want to be a part of the crypto industry's innovation, trading or investing in a single cryptocurrency, such as Bitcoin or Ethereum, may not be enough. Instead of that, you should diversify your holdings in crypto.

 

This will allow you to profit from the overall growth of the crypto market instead of focusing on only one or two. Such portfolio strategies will not only protect your money from getting snatched but will also expose you to more crypto in the long run.

 

Focus on your goal

 

Focus on your goal

 

You have noticed that the trading chart moves in a zigzag pattern. And this goes even when the price is in an uptrend or downtrend. Whether the market is going up or down it frequently makes a series of small back-and-forth movements every time.

 

And such price movements in any crypto chart are unavoidable when large positions are opened and closed.

 

So what happens when you open a trade you want to get the advantage of the ideal situation to make your position to get profit quickly. But in reality, random price fluctuations, or we call it 'noise’, can cause a drawdown on your position and even prematurely trigger your Stop Loss.

 

In short, what I want to say to you is, market noise can provide false trade signals all the time.

 

So you should follow a proper trading strategy to cut down those noises and always strives to make the most precise entry into the market, and to do that you should follow the principle of "buy low, sell high".

 

Fund your dream team

 

Fund your dream team

 

Invest in projects. Let me explain why. Right now, the blockchain economy is approaching $3 trillion, it is becoming more mainstream, and it is unsurprising that the future of its adoption is being championed by people all over the world, as well as many large corporations.

 

As a result, you should look for undervalued projects and invest in them to maximize your return on investment.

 

Choose the correct tools

 

Choose the correct tools

 

Anywho trades in the market or requires a wide range of tools to support their active trading lifestyle.

 

This includes the fundamentals of hardware, software, copy, pencils, charts, and other more common physical desk items.

 

Now the first tool you should be aware of tradingview.

TradingView is a very good platform for almost everything crypto-related. This will take you to a higher level in trading. And one of the best features of this is The split-screen functionality which means in any given window, this can display up to four separate and fully interactive graphs, and also you will have complete control over every screen, indicator, and time frame in those graphs.

 

The next one on my list is trading simulators,

 

For those who are starting out in the trading market, the trading simulator is the best free resource and is the best way to learn. It will let you know whether your trading methods are working or not. Simulations allow you to test your knowledge and strategies without involving any risks in the trade.

 

like this, there are many trading software that will help you to get a clearer picture of the crypto.

 

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