Everybody wants to be successful off Crypto. Everybody wants to live the fast life, wants to make a ton of money and get the lambo we see on YouTube. And then you get in and you realize it's not that easy. Its require strategy and dedication and a whole lot of sense. But then it's still fun anyways. Today we'll be talking about 4 tips for you to earn profits from your trading. These tips are not from me (hell no), they are from someone who has made a shit ton of money from Crypto. He is he who will not be named, but let's get right into his tips.
Start small: I've heard many people say they want to wait till they have $1,000 or $5,000 before they start trading, well I advise against that. I wouldn't say start with $10 or $5 small, but don't start with very large positions or you will REKT yourself faster than I will say Jack Robinson. You won't be able to keep track of your wins and loses and you will basically be giving out your money. I would advise that you start with between $200 and $700.
Learn to cut your losers quick: Even the most expert of traders still lose some trades, so you should learn how to cut loses when a coin is falling faster than usual. Learning how to immediately get out of a loss will save you a lot of money and give you less heartache, so try and master the art.
Avoid trading the major coins: This is highly debatable because some people make money off trading Bitcoin, Ethereum and some major coins alone. But one thing I can guarantee you is that as much I would like to tell you that these coins run on supply and demand, if doesn't and the major coins are heavily manipulated by Whales, miners, exchanges and others. Volatility and big moves is what you are looking for, and many times these major coins don't make big moves. As much as I said don't trade major coins, also never trade shit coins they are just for pump and dump. Trade proper altcoins that have a high trading volume of maybe 100BTC and above or 800ETH and above.
Learn to contain your risk: Losing money is far more easier than making money and so always look to safeguard the one you already have. Don't blindly throw all of your money into one coin. Risking just 1% of your portfolio might be too small for your type of account size to see profit, but there is no universally accepted percent. Trade with any percent that you wouldn't be too hurt if you end up losing it. Just avoid putting all your eggs in one basket, because it might get squashed and you will be left with nothing.