(A cryptocurrency video course for beginners from an ex-Agora guru now publishing independently.https://bit.ly/3Avjupf )
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The cryptocurrency market is incredibly volatile and prone to quick price fluctuations that can lead to huge gains or enormous losses in just a few days’ time. Trading cryptocurrencies like Bitcoin, Ethereum, and Litecoin can be extremely lucrative when you know what you’re doing and are equipped with the right information and strategy. Here are three tips that will help you increase your profits (and avoid losses) in the cryptocurrency market.
- Calculate Your Profitability Before You Start Trading
It's important to calculate your profitability before you start trading in the cryptocurrency market. This will help you save money and make profits. To do this, you need to find out your break-even point. This is the point at which your losses equal your gains. Once you know your break-even point, you can start making money!
(A cryptocurrency video course for beginners from an ex-Agora guru now publishing independently.https://bit.ly/3Avjupf )
Use Stop-Loss Orders
One way to save money and make profits in the cryptocurrency market is to use stop-loss orders. A stop-loss order is an order placed with a broker to buy or sell a security when it reaches a certain price. This can help you limit your losses if the price of a coin falls sharply.Manage Risks Wisely
The first and most important step to making profits in the cryptocurrency market is to manage risks wisely. You can do this by understanding the market and investing only what you can afford to lose.
(A cryptocurrency video course for beginners from an ex-Agora guru now publishing independently.https://bit.ly/3Avjupf )
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