Useful Rules for Crypto Investing
First of all, and probably the most important rule to crypto-investing (in fact, at any kind of risk investment — however small it is), Invest only what you can throw away. Having followed this rule, you can follow the others rules that I’ll list in any order — at your own pleasure.
Rule #2 — Always do your own research. Always know where you put your money. Have a reason — or several — to do it.
Rule #3 — Never panic. Never panic sell — or panic buy! Hold. Or in technical language — HODL. If you follow first rule, this should be easy. That being said, take notice that HODLing is an overestimated strategy — the secret is to learn when to HODL an when not to HODL.
Rule #4 — Buy on Low/Sell on High — Buy on High/Sell on Low. If you can’t handle with the emotion of surfing the waves — follow rule number #3 — HODL.
Rule #5 — Learn the basics of Math. Know the difference between nominal and percentage — know the difference between nominal value and percentage value.
Rule #6 — Learn at least the basics of Technical Analysis (TA). If you wanna do daily trades learn as much as you can, and don’t do it until you learn all. If you are investing in a long term perspective, in projects that you believe and have done your own research, basics should be enough.
Rule #7— Either learn to use social media in your favor — or just ignore it. Don’t panic with the crowd, don’t rejoice with the crowd, don’t follow the crowd — buy when everyone is selling — sell when everybody is buying.
Rule #8 — If you can’t ignore social media — don’t believe in everything that you read: 99,9% is either a lie, or it is not true, or it is inaccurate. Most of the time it serves someone’s purposes. After all, we all shill our favorite projects.
Rule #9— Confirm every information that you get with several sources — the good and the bad. If you fail to do so, you will be euphoric about what makes you happy, and in panic with that goes against your expectations. Control your emotions.
Rule #10 — Learn from mistakes — and with what went well.
Rule #11 — Don’t get excited whit the gains — nor be depressed by the losses.
Rule #12 — It is better to miss the opportunity of the day than the opportunity of a lifetime. Be patient, not emotional. It is better to miss the train than to be smashed by it. After all, after a train, another train comes.
Rule #13 — Thirteen is a great number. I love Thirteen.
If you want to go to the Moon — send your application to NASA — or any other space agency. Maybe you can even go to Mars!
P.S. — Don’t put all your eggs in one basket! And don’t be greedy — take your profits!