During recent months to a year or so, everyone is struggling on all fields to keep up with the rising prices, economy crisis or better said stagnation.
Riding this rollercoaster is a challenge for everyone. Referring to crypto trading, it became more challenging than ever to keep things going.
MArket volatility, psychological pressure, shifting market dynamics and economic uncertainty are just few of the major factors that put pressure on the trading activity.
Referring strictly to crypto trading - this is or maybe was an activity made available to people from various backgrounds, walks of life. The simple people, like me, who could just trade minimal amounts, not large sums as it is on the great exchanges of stocks. It gave an opportunity to start with as little as 5 USD. Something like that is not possible on the traditional stocks, where minimum is in the ammounts of thousands - or so (maybe even 5k USDT from what I remember).
But what is now happening?
Not much. The stillness continues. Markets lack volume. They just sit. My assumption is there are out there a lot if not the majority of keepers - HODLERs for the long run.
For a beginner day trader, what do to in such times?
Assuming the funds from crypto trading still exist.
Because if they were absorbed by the market, then a new start is the next step.
Well, I think is not much to be done. But, as I am still part of this game, I plan to keep my activities - just in slower motion.
What I do for now is to go with the flow and at least be happy that I did not loose anything.
Is just that things are going slowly. Not at the speed needed by actual life expense nowdays.
I mean for the average person, not a wealthy investor.
. I am trying to use these ways to navigate this circus and keep the portfolio from turning into a clown car:
* Diversification: Spread assets like at an all-you-can-eat buffet. No pulling all eggs in one volatile basket.
* Risk Management: Set some boundaries, like implementing stop-loss orders and limit even more than before the position sizes.
* Staying Informed: I do my best to stay updated, but don't obsess over the news like it's the latest celebrity gossip. I have here on Publish0x my favourite sources and best writers that give me the overviews I need.
* Long-Term Perspective: I try to remember that this crisis, too, shall pass. Tip: Don't let short-term market madness drive you to madness.
* Seek Professional Advice: Since last month, I started to consult with experts. Asking for help is not a weakness, on the contrary.
Conclusion
Keeping your trading portfolio steady during an economic crisis is like comedy of errors or a carnival ride. But with diversification, risk management, staying informed, a long-term perspective, and a little expert help, maybe we you can turn this situation into a better scenario. So, the economic rollercoaster never stops, and the only way out is through!