Sharing my tips with everyone here especially to those who are new to crypto

Hi all, I work in the Finance industry and have been trading stocks and crypto for years now. I would like to share some of my tips and knowledge here, hope you like them!Guides:Stick to your personal trading rules and ignore noise/hype.Don't FOMO into a coin. Price always pulls back so never chase the pump and never buy at the top. If there's nothing to buy. Wait for a good entry. Let the pump come back to you.Expectation: you won't get rich overnight. After buying a coin, don't expect it to double overnight. Just be very patient with a coin before considering selling it. Just remind yourself why you bought the coin in the first place!The crypto market is unpredictable, anything could happen.I wouldn't recommend leverage trade/ shorting now - We're in a bull market now so it's not wise to take extra risk to leverage trade or short the market.Remember: most traders lose money, and the richest people in the world you know are long term investors, not traders.I have made much more money by investing mid-long term than going 20x on trades thinking I'll get rich overnight.We're in the middle of a bull market now and I don't think we're at the top yet. There's still money to be made but don't expect you can 100x your money, though I believe 10x is still quite possible.On that note, just focus on finding your 10x coins rather than aiming for a 100x moon coin, it's just unrealistic now. The time to make 100x is gone. Prepare to buy in the next bear market to prepare for the next bull cycle, that's how people make 100x.Exit strategy:While it's fun and exciting when we're in the middle of a bull run. But remember, this bull market won't last forever. While it's good to take advantage of this opportunity to make life changing money, don't forget to plan your exit strategy. Always remember to take profits.For example: if you're lucky enough to make 10x. Take some out and put it in Btc/ Eth for long term investments. Take some out to tether so you can rotate the profits into another 10x coin. Take some out to fiat so you can enjoy your money. Leave 5-10% in the original coin in case it will still moon. Have a plan!Know when to sell:Write down your price target when you buy a coin so you can ignore noise, FOMO and emotions down the track. When the coin is approaching your price target then start shaving off the profits. Remember: you don't have to sell the whole thing, you can always sell 10%—20% to take some profit out.You can dollar cost average in, and you can always dollar cost average out.Thanks guys for reading. Hope the above helps and hope we all get rich. Above is not financial advice.PS: It's my birthday today so please upvote this post if it offers some value to you. 😊😊

Submitted February 28, 2021 at 03:45AM