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7 Golden Rules for Becoming a Profitable Cryptocurrency Trader

5 Satoshi was tipped

ecodebase2021/07/13 08:13
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Florian Dibra, who is only 18 years old, began an unusual journey in 2017 when he began investing in cryptocurrencies. Here's his take on everything.

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7 Golden Rules for Becoming a Profitable Cryptocurrency Trader

Florian Dibra, who is only 18 years old, began an unusual journey in 2017 when he began investing in cryptocurrencies. Here's his take on everything.

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Cryptocurrency, I believe, is here to stay. That is why I have a cold wallet for the long term, which I always Hodl regardless of the situation. I also trade weekly, which may be quite rewarding if done correctly. When the market declines, I instantly purchase as much as possible to increase my earnings. For the time being, I believe that we are still in a bull market. The market has been declining in recent weeks due to the FUD (Fear, Uncertainty, and Doubt) surrounding Bitcoin. The objective is to Buy Low and Sell High!

If you are unfamiliar with all of this, you should know that some significant firms have invested in BTC. They have a compelling motivation to never sell or even purchase new ones, as the price continues to increase. This is why experts assert that cryptocurrency is the way of the future!

The Seven Golden Rules

Florian Dibra initially made a few costly errors. He doesn't want anyone else to make the same errors he did, because some individuals cannot afford to lose!

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That is why Florian Dibra has chosen to share some extremely valuable advice with us.

1 – Establish your own rules and adhere to them strictly

Developing your own trading rules enables you to avoid difficulties when you find yourself in a bind. Distractions and rule violations can be disastrous.

2 - Maintain a healthy detachment from market gurus.

Never be swayed by smooth rhetoric, as this is your money, and some people may be acting in their own self-interest, expecting that all the chatter finally fills their pockets.

3 – Always conduct research before investing and do it at your own risk.

Being informed and taking the appropriate steps by accurately evaluating the risk determines your success.

4 – Profitable businesses generate profit.

Investing in the correct firm or project and monitoring its monthly progress determines everything. Not every Cryptocurrency will survive in the long run; therefore, choose carefully, as this is trading, not gambling.

5 – Trading is 80% waiting and 20% action!

Have the patience to wait until the coin reaches the desired level before selling. You should constantly wait for a market correction, then buy and repeat. A prudent trader is never fearful!

6 - Invest on the Dip!

Maintaining a surplus of USDT allows you to purchase the Dip. This technique enables you to increase your profits.

7- Never risk more money than you can afford to lose.

Never immediately invest your hard-earned funds. Money loss is a devastating experience in and of itself. It is considered considerably more distressing when it is money that should not have been risked in the first place.

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