Street Smarts For Trading Cryptocurrency

in cryptocurrency •  7 years ago 

I think after December and January, it would be wise to add a great deal of street smarts to the cryptocurrency game... and I do mean game.

Govts manipulating, scams, weak business leaders, weak tech, crap coins, really does make this feel like what I saw an article refer to as the "Wild West".

So here are a couple street smart tips:

  • Never trust anyone with your money. That goes for exchanges as well as other people. So keep it as secure as you can.

  • Diversify. I keep preaching this. You need other streams of income. Diversifying is NOT you own more than 1 coin. Or you do lending within crypto. It means you have some other means of income OUTSIDE of crypto.

  • Find a trustworthy, smart, level-headed "partner in crime". I was going to try and make this sound professional but forget it... This person will be able to keep a high level of secrecy about you and your dealings. They have good ideas and you can rely on them to offer advice without emotion. They trust their gut/intuition. They're tough and strong-willed. These people are hard to come by, but they're out there.

  • Be open to change. Sometimes things just don't go the way you thought they would. Keep a cool head, believe you're smart and know things will work out. You just have to move with the tides sometimes. Swimming against the current is futile.

  • Don't be greedy. Look, greed is the main cause for losing money when investing. Be wise, set goals, and get out when you meet them! Furthermore, don't look back at how much you "could've" made. Think about what you could've lost too. Set goals, be happy, be stress-free.

That's all for now.

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