Crypto How to stop losing money in crypto market

[kirillshift]

If you are a spot hodler
1) find great entry point
2) DCA if price goes down
3) take profits on the way up
4) buy dips
5) don't FOMO on pumps


If you are a trader
Don’t FOMO on pumps, always buy short time frame dips
Stochastic RSI 1H and 4H a great tool to help you

What else can you add according to your experience?

 

[Wisdom01]

The trader should always have knowledge on what he or she is trading on , because of the fact that most times if you don't have idea of what you are trading you wont know how to carry on your trade , and also the trader should learn how to set all the necessary stop loss , because it's very important to take note as stop loss could help lower the amount of loss you might likely make in trading

 

[NXTGChain]

Be patient, patience is key. Only if you are in spot, margin trading you don't have that luxury.
At least for BTC, easier said than done but if you check the Bitcoin Rainbow chart, buying in the blue zone can be a good call based on historical market data. That is a super long play though which comes back to patience.

 

[Chibson]

Fear of missing out really dealt with me when I ventured into cryptocurrency trading Newly. Whenever I see a coin that is pumping I will always jump on it and along the way it will dump heavily on me. But after some time I started making a lot of research about how to trade crypto-currencies properly and I realized I was making a hell of mistake. I always buy dips and make some profit.

 

[sincerem]

One needs knowledge about trading and not just rushing on, to play without knowledge or experience prior to succeeding. Such kind of persons are making things difficult for themselves by investing without seeking experience first. We should be cautioned enough when going into crypto investing even if we are experienced cos the market is risky.

 

[Josemendez]

In addition to what you said about having a good entry point , I think it is right that we invest in project with good use cases that will help it survive in the crypto world . Secondly , we should be greed when our investment gives us reasonable amount of profit. We should collect profit mid way in the bull run .

 

[Wisdom01]

Fear of missing out really dealt with me when I ventured into cryptocurrency trading Newly. Whenever I see a coin that is pumping I will always jump on it and along the way it will dump heavily on me. But after some time I started making a lot of research about how to trade crypto-currencies properly and I realized I was making a hell of mistake. I always buy dips and make some profit.

This affected me too , because some time I will want to pick a great entry point but just because a coin is pumping i will just invest and then i was a newbie that was why , but now that I am beginning to learn how the market works , am looking at great entry point before making decision , so many people needs guidance tho because of how risky the crypto market could be

 

[Good-Guy]

I am extremely new to crypto trading and I would really appreciate if someone could please explain me what does the terms like "FOMO" and "DCA" mean that were mentioned by the OP? I really do not like it when people mention short forms when it comes to such technical stuff because it makes newbies confused a lot.