According to Coingape,in the crypto trading industry, profits and losses are part of the investment process,and every losing process can generate millions of dollars in revenue and vice versa. However,despite the potential for profit,crypto trading is not easy;Because various factors affect the value of tokens.For this reason,developing a risk management strategy and technical analysis is necessary to maintain profitability. For example,a trader with an investment of $1.8 thousand in the Ban token made a profit of $873 thousand in 48 hours.
A user named Lookonchain took note of this incident and revealed the trading record that he had made a huge profit in 48 hours. According to this post, this trader spent $10.2 SOL equal to $1795. With this, he bought 36.27 million BAN and when the token multiplied,the investment turned into $873,000 in just 2 days.This is very impressive, as the crypto market has struggled over the past few days despite the hype around October. Earlier, buyers dominated the market,but with the impact of macroeconomic events,the situation is not entirely.
A crypto trader made huge profits with a simple trick?!!
Although the crypto market is challenging, investment strategies don't have to be as challenging.This is what this crypto trader showed and he just followed a simple stop loss strategy.In crypto trading,people often make the common mistake of emotional selling,where they sell their assets out of fear when their prices start to fall. And to save any part of their investment, they suffer heavy losses.
However, this trader was smart and continued to hold until the price started to rise again.He sold his BAN tokens incrementally instead of selling impulsively. First,a small part of it so that he can use the rest in case of a possible rally. Lookonchain's post also revealed that when the price rose, he first sold 12 million BANs for $56.9K.When the price dropped by 90%, he did not move and waited for the next rally.Most importantly,he only sold 6.13 million BANs at $80.7K and held another 18.13 million BANs ($734K) while waiting for the next rally.
What can I learn from this?
The crypto trading industry is worth $2.27 trillion today and has reached even higher heights when the market was favorable. This confirms how the value of the token rises and falls with various external factors, which can take an investor from poverty to wealth and vice versa.However,timing is everything here.Starting or ending a trade at the wrong time can cause heavy losses, and many people have made this mistake, including an investor who lost $454,000 after selling on impulse within 40 minutes of buying.This is a prime example of how emotional selling costs you more than sitting through tough conditions and selling when profitable conditions return,as this crypto trader did.
The sun comes from the east. . . .
