Hello Steemit comunity!
First of all,if you have never invested in forex, comodities or other curiosities, do not start investing mindlessly to crypto with huge pack of money. You can loose everithing. Trust me, I know, what I am writing. In my begginings, I know only forex. Cryptocurrencies was for me one big unknown shrouded in mystery. I began without sufficient information investing to crypto currencies like on forex. FAULT! My big fault, crypto currencies has much bigger volatality as forex. One big trabe on bitcoin with laverage 1:100 and money was LOST.
Here is the sad moment:
Then came the moment when I said that I had to take it from another point of view.
Since then I have been watching all the important information, waiting for a suitable opportunity, and investing only in the right moments. It is true that strategies can be applied to forex and I do.
The main rule of success in investing, which can also be called a publicly known secret, is DISCIPLINE, DETERMINING STRATEGY AND TRADING WITHOUT EMOTIONAL !
The biggest problem is emotion! Emotions often force you to close position sooner or close position later, even though you are aware that you are making a mistake. That are just emotions...are fascinating they works :(... you have to sa NO! You have to say: I hate emotions and I want to trade as a professional!
Okay, when I sum up it, BASIC RULES when you wanna trade cryptocurrencies:
- Discipline
- Good strategy
- Trading without emotions
- Informations
Next time something about strategy and the first question you have to ask before start trading.
I'm learning from my own mistakes, do not do them too.
Have a nice day :)