You might have already noticed that whenever I talk about the crypto market I often suggest to stay on the safe side and not chase big profits.
My philosophy is quite simple:
It’s better to under profit than overshoot! (just getting less profit instead of dumping all money into the drain and undergoing extra loss!
As they say it’s better to make 1%, than to lose 10%.
This is what my risk management system is built on.
Wholesome habits of “not giving a damn” come with experience, unless you are a hardcore phlegmatic and have nerves of steel.
But what should one do if they have smidgens of experience and it’s hard to get by without a composed judgment?
How to implant yourself a zen-chip so that you don’t have to sit and watch while money is flowing into other people’s wallets?
And this is one of the reasons why beginners are often disappointed in trading on the stock exchange. There is no set of rules in the market. The same trading strategy under the same conditions may or may not work.
How to trade cryptocurrency if the market is unpredictable?
What to rely on?
The answer is that you better rely on unpredictability, my friend. And risk management.
Today I want to play smart but don’t worry I won’t let you get lost in an unfamiliar vocab. I’ll do my best to break it down into simple terms and literally draw you a map to stay tuned.
Let’s talk about cognitive distortions
If you entered the market for the first time and luck is magically on your side, that ain’t a good sign at all. Do you wanna know why?
First things first, a little scam alert for ya: nothing stays buried forever. But mostly, anything ditched, eventually comes out. And when it does, you won’t be pleased with a manipulation that directly affects your deposit.
how these things work, and how to avoid them from happening to you.