We’ve repeatedly raised an extremely important topic – that of your security. How can you ensure reliable protection against fraud? What password should you come up with? How often should you change it? These are important questions that you really need to be asking yourself. However, psychological security is the most important kind.
The cryptomarket is full of threats, and not just financial ones. Your psychological condition is the most important of all. In order to avoid moral upheaval and shocks, remember the typical mistakes that novice crypto traders make:
1. The 20% rule. You can buy cheap coins with a weak capitalization and believe in miracles. That’s your right. But it shouldn’t take up more than a 50% share of your assets. It is dangerous, unreasonable, and promises financial and nervous turmoil.
2. You heard about some “hot” coin from your friend, acquaintance or relative. But how do they know about it? Yes, you trust them. No, they are not deceiving you. But perhaps they are the ones being deceived. Remember: if you are not a brilliant cryptomarket analyst, then you have most likely missed the moment.
3. Coins are not enough. If you decide to invest, do not limit yourself to currency. Study the market. Invest finances in different startups.
4. Do not gamble. The cryptomarket is not a game, it’s a business. Thought and analysis are your path to success.
5. Don’t sell coins on a downward trend. But don’t hold on to them until the last second either, it’s not worth it. Once again – analyze.
6. Exchange transactions are always associated with risks. If you don’t want to take a risk – don’t start. Take care of your nervous system.
7. Develop a strategy - you will not succeed without it. Think your plan through several moves ahead.
8. Came up with a strategy? Don’t change it. Stick to it. Life can make its own adjustments, but it’s your business plan. Hold on to it.
9. Pay attention to the little things, like passwords, dates, statistics.
10. Don’t expect to become a millionaire instantly. Cryptobusiness is a strategy. See paragraph 7.
11. Emotions are unnecessary. It’s a market. It's nobody's fault.