If you want to be on the market and take profits from crypto you should be always prepared. It is a common mistake that people are doing all the time and always gonna do. How many people are making money with the market? Why the most popular is to buy high then sell low? Because of misunderstanding basics. When someone is taking, someone is giving.

With that small portion of knowledge, you should start thinking. How I can be in this % of people on the market who receive money? Clue, have a plan, always. If the market goes down, ok you exactly know what you are gonna do, same if it goes up or sideways. If you are a long-term investor you should have DCA your buys in a similar amount week by week, month by month, etc. all considered to you, make your plan step by step, and you must feel it fits you 100%.

So for example I am making plan to buy Bitcoin long-term. I have a monthly salary, and for investing I can sacrifice 20% of it. The word "sacrifice" here is key. Why? I can't afford more loss than 20% of my salary, so I treat that amount that I am just giving for BTC every month like an already loss. To have in my mind that I don't need that money so I can have a clear mind and not get any mental breaks because of the price dropping.

for visualization and a better point of view, I have made a simulation of investing in the last 12 months to show you exactly what I have meant by that.

In 2020 December, you are waking up and heard of BTC pumping and hitting ATH from the last cycle, you remember that a few years ago people were talking that's the end of crypto, that was a speculation, bitcoin is dead and it will never come back again. But now 3 years later again price is the same, you are interested but skeptical so you start to watch it, then one month later bitcoin is making 100% in just 30-40days, you are getting in FOMO, and you think you must buy now before another 100% in next month. So you bought BTC for 40k in January 2021 then you are watching correct to 30k you are scared because you invested too much more than you can afford. But you are strong you didn't sell but you can't buy more because you go all in you can for 40k. So you are waiting you got your paycheck Bitcoin is back to 40k even more is pumping hard now for 50k in February you think you are already rich if you are gonna do the same in the next few months. March you are buying another portion for 50k. Same in April you are preparing for 100k to make double your investment like it was with the bitcoin price at the start of the year but bitcoin is dumping in May by a huge 50% and it is back to 30k, for now, you are a giver to the takers. But what do you think, being in that FOMO and that thought process? That you are gonna make another buy because with that correction you gonna make not x2 like before now you can make x3 to 100k! So you put even more to make a huge return. But next June and July are still dumping, and people are scared, in tv, and radio people are talking about the same situation as before, bitcoin is dead, and the bubble is gone again that was only speculation and greed. You are scared and because of investing more than you can afford you decide to get your money back and sells finally 30k takes a 50% loss and leave the market. Then 2 months later end of September price back to 50k and you are pissed off that you sell for 30k.

Probably that was the biggest % of market "givers" in that specific moment I described. I was one of them.

Now a little different simulation.

In 2020 December, you are waking up you heard on the radio in the taxi that Bitcoin hits new ATH it is higher than the last time in 2017 you didn't invest but you are skeptical so you start digging. You find out a post on the crypto blog about FOMO, about people losing their money and why it is happening. So you don't want to be one of them you want to make money on it. You want to start immediately with investing but what kind of plan do you have? Oh, you have to make a plan first. You read about plans that can minimize risk, especially for the newbie. Dollar-Cost Averaging in short DCA. What is it? Simple buying an asset with a similar amount in a similar time period. That's brilliant, isn't it? You can still learn about everything around you, being in and don't have to worry about you must make a profit immediately. So you decide to take 20% of every salary and buy BTC every month for that and wait until the price is gonna be satisfying for you to sell it to others.

Two different people, two different ways to enter the market but what a huge difference in the end. Now if you are new and you want to make money which way do you want to go?

Nothing I say is financial advice. The golden rule - do your own research.

thanks for all the tips you left here, hope you will be earning in the market.