The most important rule in crypto

As in the last bullrun I see more and more people are starting to be happy that they made xxxx$ in crypto... but 99% of them will never get to use that money.

So, in crypto, without an exit plan, you're just living a dream.
Yes Right We Should Plan Every thing and then Work on
 
The best thing I did was get away from that world, it is complicated and you can lose everything in minutes
 
Before I buy any crypto I already know where I want to sell it.
but if you don't know when you get out of the market and with what % of the capital... it's still useless

I'm talking about turning crypto into real money.
 
I do trading using the order book to find some info where I can get some % . So when I make a trade I already knew how much will be my % of profit
 
but if you don't know when you get out of the market and with what % of the capital... it's still useless

I'm talking about turning crypto into real money.

I guess that applies most if you are a trader. But do you not think crypto will ever be considered “real money” in its own right?
 
It definitely will since the world is going through a digitalisation process.

I agree with you 100% and I’m glad you said it. I also believe that every industry is going through digital transformation and that crypto is exactly that, concerning the financial sector.

I also believe that Bitcoin is an absolutely revolutionary system - one that truly solves problems that have never been solved before (not only in a mathematical sense) in that it is truely autonomous, truely decentralized but at the same time can be updated where it is found to fall short and also provide zero trust exchange of information and be immune to corruption.

What has ever been capable of that in our entire history?

And to top it all of, it is extremely secure (dare I say impossible to hack), have we seen anything like that before? Not to mention that it is the most sound form of money we’ve ever seen.

I believe these concepts could revolutionise not only the financial sector but many other sectors including government and anything that requires large scale collaboration and immunity from the corruption that comes with centralisation and the inefficiency that comes with scale.

I believe that’s why there are so many people that seem crazy for having no exit strategy. But it of course depends on whether you see crypto as a money making venture or a long term investment.
 
I guess that applies most if you are a trader. But do you not think crypto will ever be considered “real money” in its own right?
not necessarily if you are a trader... a simple example a friend in the past bullrun from 10k he managed to make 700k in 4-5 months when he found it very easy :D he wanted to make more, in the next 4-5 months he reached 0, he also lost that 10k he started with.

if you don't have a concrete plan, like I start with 10k, make 50k, 25k I take out buy something, or invest it in something else(not crypto)... the chances of losing everything along the way are extremely high
 
not necessarily if you are a trader... a simple example a friend in the past bullrun from 10k he managed to make 700k in 4-5 months when he found it very easy :D he wanted to make more, in the next 4-5 months he reached 0, he also lost that 10k he started with.

if you don't have a concrete plan, like I start with 10k, make 50k, 25k I take out buy something, or invest it in something else(not crypto)... the chances of losing everything along the way are extremely high
I guess @davids355 didn't mean "investing" in shitcoins or playing with leverage. If you just hold BTC it's very very unlikely to just lose everything.
 
I guess @davids355 didn't mean "investing" in shitcoins or playing with leverage. If you just hold BTC it's very very unlikely to just lose everything.
Yes, but in a bull run, almost any coin you invest in will be profitable short-term... and that's why I said without a plan it's just a dream
 
Yes, but in a bull run, almost any coin you invest in will be profitable short-term... and that's why I said without a plan it's just a dream
I see, I guess my POV is quite different, I personally don't consider short term 'investments" in random coins actual investments. It's a gamble.

Where as BTC seems a good long term strategy.
 
Literally my last bullrun mistake, I would never wish someone to feel that :D
 
My Exit Plan is you take your funds back after 200% and than I put them on BTC or USDT.
 
but if you don't know when you get out of the market and with what % of the capital... it's still useless

I'm talking about turning crypto into real money.
Interesting. Crypto and real money being differentiated.
 
With Crypto Trading or even more so Stock Trading a major fundamental you want to stick to is Buy on Rumors and Sell on News.
This means that, you buy in before the news hits, whenever people aren’t talking about it. And you sell when the news comes out, or something gets confirmed, because then that’s when the hype comes and by then it’s too late.

Furthermore, buy on the dips, watch the trends. If you watch it long enough you will see a clear pattern. The crypto I watch fluctuates between 5-8% a day. So I know if I buy on a dip when it’s down 8% I’ll sell when it recovers and is back up 5%. Doing this not necessarily everyday but it may be every other day. This is very profitable way of trading.
 
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