For anyone who is new to #crypto:
That shakeout/correction/retracement we just had, is a normal part of the market. Despite what influencers on CT might say, no one can predict exactly when it will happen. We will resume #uponly again. But the dump might not even be over.
That shakeout/correction/retracement we just had, is a normal part of the market. Despite what influencers on CT might say, no one can predict exactly when it will happen. We will resume #uponly again. But the dump might not even be over.
This is why risk management is so important. If you're using a trading platform, set Stop Losses. Make sure your Margin Fraction isn't too close to your Maintenance Margin Requirement. Don't use leverage if you don't know how to protect yourself.
Also emotional management is super important. Maybe more important. It's your emotions that will get you, making you buy in as something is crashing, hoping to catch the bottom. Or refusing to sell at the top because you want it to go up more.
The winning traders in this space aren't affected emotionally when a dump like this happens. How did you feel just then, watching your portfolio diminish? #Crypto markets are volatile. That means you can make a lot of money. And you can lose a lot of money.
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