First steps in trading are pretty though.

You are required to have a sound and rehearsed method. Every made mistake is very painful. To make your entering crypto market trading as easier as possible we gathered 7 main guideline you have unconditionally follow.

Play with the funds that you are willing to lose

How many stories have you read on Bitcointalk or Reddit that a man is complaining about losing all his funds for living after unsuccessful trading day? But there are even more accidents when one borrow his friend’s money. Don’t take out a loan to play on an exchange. Don’t fall for the temptations - only play with the amount of money that you are eventually willing to lose.

Gather knowledge and information

Knowledge is your weapon on crypto market field. Internet is a huge resource where you have free access to the millions of articles, useful books and tutorials. By educating yourself, reading a lot, gathering knowledge about the functioning of an exchange and how to invest on it you produce your own strategy of successful trading. Don’t leave your money to chance.

Don’t act in panic or in a hurry

Remember that panic is your enemy. Fear, rush and succumbing to impulses are a good way to lose money when it comes to playing on an exchange. Panic can occur after unanticipated news or unexpected rises and falls of cryptocurrencies. Always stay calm and analyze the situation .

Be patient

Cryptocurrency is about patience. Patience is a quality of many great investors. Just remember those brave guys who invested in Bitcoin 10 years ago and waited for its growth. Yes, it may takes years. Wait out the crises, don’t give up after the first losses. Wait and follow your strategy and it’s probable that you will profit.

Follow a long-term strategy

Trading without strategy is a waste of time and money. Determine your investing strategy before you buy anything on the exchange. The best investing strategies cover a long time and are based on data and analyses rather than just a stroke of luck.

Be flexible

Don’t attach yourself too much to your investments. If you see that the situation on the market is changing and you will not be able to profit then rethink your strategy. Sell what you’ve bought without remorse, even at a loss, and choose a new course of action.

Set limits

The ability to stop yourself in a right time is a skill you have to obtain. Decide on the limit of your investment funds and never cross that barrier!