Crypto and Chill Tips: Part 1 – How to invest after a massacre?
In the following days we will publish a series of articles that will help you plan your crypto investments in the long term while positively changing the way you trade.
Part 1: The fundamentals of a Crypto Investment Strategy
In the past week the crypto market endured what many have described as the biggest crash after 2014. For months the crypto market was slowly getting attention from the normies, the biggest news outlets in the world started making stories like “How to buy BitCoin, how to buy ripple”. The market has been flowed by newbies, who just felt the golden rush and wanted a “piece of the pie”, going all in on anything with low nominal value. This all had led to the adjustment we experienced and now the FUD is taking the lead while nobody knows where the market will settle.
The biggest question everyone is asking is what should I do now?
The positive news is that we are getting closer to our long term moving average which is much more robust for entrants. In other words, now is the time that we should stop chasing the short term hype and pumps and create meaningful trades where we invest in crypto currencies that actually prove themselves as useful.
The first thing everyone should realise is that they control their own money, so instead of listening to famous pump and dump virtuosos like John McAfee, Teeka Tiwari etc. they should make their own research and strategies…
The following list of basic but yet vital principles should be regarded as a starting point for creating an investment strategy:
- Slow down your trading. Before buying any crypto, research it for at least a week.
- Always think about your strategies for enter and exit in advance.
- Consider the past movement of the chosen crypto, never buy it just because it has risen.
- When you exit a position don’t do it from FUD, trust yourselves and your trades and never sell, just because it has declined.
- Always invest only as much as you are willing to lose. It’s the wild west in here, don’t make yourselves vulnerable.