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    Blocktoq»Crypto News»TOP 5 tips on how not to lose crypto during a crisis
    Crypto News

    TOP 5 tips on how not to lose crypto during a crisis

    Blocktoq TeamBy Blocktoq Team14 April 2020Updated:12 March 2021No Comments3 Mins Read
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    советы смягчить кризис|eth цена график|объяснённый порядок остановки|5 лучших советов во время кризиса
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    Dennis Hartman holds out a helping hand for us — He is a well-known and experienced entrepreneur, starting to invest in the 70s, having a lot of experience in trading treasuries, stocks, commodities, derivatives and Forex. What can we learn from him?

    Great teacher

    Known for his sceptical approach and pragmatism, Dennis had a great eye to make the right decisions in difficult times to take advantage of the prevailing situation. He eventually wrote down “rules of trading” which were revised and honed over time.
    Today you will learn the most important rules tailored specifically for cryptocurrency investors, so that your portfolio does not suffer during the crisis and even benefits from it.

    1. When the bull market prevails, be stable

    You will find out if the price was high or low a couple months after the fact. Don’t fight the trend. Too many traders went bankrupt trying to guess the bottom.
    eth price chart Ethereum prices (January-February 2020).

    Source: tradingview.com

    The chart above is a great example of a bull market when an investor should look at the investment in the long-term perspective. It is quite the opposite during the bear market, because investors should then avoid long-term investments and focus on the short-time frame. Wait for a clear trend before investing.

    2. Reduce your losses often and early

    Risk management is one of the key elements of success in financial markets. One of the basic principles of risk management is limiting losses. No matter how attached you are to your investment. If the price of the cryptocurrency value keeps falling, close the position and sell.

    3. Be patient when you win and get out quickly when you lose

    An investor can be very profitable, even if he receives only 30% profit from all his investments. Set your “stop loss” within roughly 7-10%, while constantly increasing the rate on winning trades. If the position increases and the trend is positive, buy more.
    stop order explained

    Source: ig.com

    4. Respect market trends more than your own and others’ opinions

    You were sure that the price would change but eventually nothing really happend? Don’t argue with market sentiment. Don’t expect the market to adapt to your vision. Watch out for online confirmation of your sentence. Set aside your emotions and ego to make decisions more efficiently.

    5. Financial loss is terrible, but stress is even worse

    When a cryptocurrency loses its value and you lose money, it’s definitely not good, but the stress caused by it can be even worse. After losing money, devote time and attention to something else. Every trader makes bad bets from time to time, it is important to avoid emotional attachment to the position. Part of the game is the possibility of losing.

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