Don't lose all your money! 🛑 3 golden rules for managing risks in crypto!
In the fast-paced world of crypto, risk management is not an option, but a necessity! Most traders lose not because they choose the wrong coins, but because they lack a clear strategy to protect their capital.
Here are 3 basic rules to protect your portfolio:
1️⃣ Don't invest more than you can afford to lose: this is a golden rule! Crypto is a high-risk market, don't put in money you need for your life's essentials. 💰
2️⃣ Diversification: Don't put all your eggs in one basket! Spread your investments across several different coins and projects to minimize risks. 🧩
3️⃣ Setting exit points (Stop-Loss & Take-Profit): Before buying any coin, determine the price at which you will sell to realize a profit (Take-Profit) and the price at which you will sell to stop losses (Stop-Loss). Sticking to the plan helps you avoid emotional decisions. 📉📈
Always remember: your primary goal is to protect your capital, then comes profit. Be smart and plan ahead!
Question for followers:
What is the most important rule you personally follow to protect your investments in crypto? Share your wisdom! 👇
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