Please Read it completely guys.Its going to be very helpful for u :)
According to my Research and my experience in cryptocurrency,I have worked out the following mistakes u must avoid if u want to earn profits while trading. And the points that u will read here wont be the same typical types like others, I will try to give u guys the genuine points.
Don't be so greedy guys as u may find the crypto-assest u are trading is at a nice level of profit.Just book your profits and stay in the safe zone because the market is so unstable don't know what's gonna happen next.It is always good to have something than nothing after all Its your hard earned money and if u are in loss no one's going to pay you back.After u sold,if the price further Increases than do not feel guilty after all u already booked your profits.As,the law of nature "Things that goes up must come down" same thing here goes with Cryptocurrency. So,guys please be careful and trade with your head not with your Heart.
Never buy altcoins in FOMO(fear of missing out) when the altcoins suddenly starts to pump up due to some reasons its very common human nature that we think its the time to earn money and we invest in it and when the whales take out their profits then the coin will dump badly.Always make habit of using stop-loss while trading.
If u love one coin then don't invest all of your money in that divide your money and invest in some of the best high potential cryprocurrency.
If you are surrounded by the hype of some coins all around in social media then never buy in such case first do your own research from your side,Know the projects in what you are investing it and why so much hype around it ? And after all the things done if you find the project worth of investing in it then only you invest.
In my belief, Among more than 1500 crypto's listed on coinmarketcap only the crypto assests that have real life case scenario will exist in future because cryptocurrencies are here to make it easier for people via blockchain technology.In present case, it may be only tradings things and making profits out of it but In future, it must have real life usecase. People must be able to use it for certain purposes . Many of them have very nice roadmaps and all other stuff's but the one's which will really implement it and bring in real usecase will only survive in future and will 100% give much more profits.
Long term investment is a great thing to do which will surely give you loads of profits but before that do research, and think what it can really do in future,is their project solid??, Know about their project teams,project advisors and investors.Always try to draw conclusion out of it.
I hope it may help u guys.Please keep supporting :)
Disclaimer: I am not a financial advisor. Do your own research before Investing.
Regards,
Congratulations @biman2064! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPinvest in crypto earn your profit and exit and do it again and again with all coins