Lessons Learned: My journey in the world of trading since 2015 has taught me some valuable lessons:
Never trade with money you can't afford to lose. This includes essentials such as rent, food, and family expenses.
Diversify your portfolio by never putting more than 5% of your investments into one single trade.
Focus on steady gains, not big wins. Small profits can add up over time to make a huge difference.
Emotional control is key. The biggest hindrance in trading is often ourselves, so it's crucial to stay level-headed and trade without bias or emotional attachment. Keep in mind that 40-60% drawdowns are normal in a bull market.
Last but not least, Diversify your portfolio by only filtering and selecting tokens or stocks with great foundation and long-term value. Focus on these trades and make them 80% of your portfolio, but never put more than 5% of your investments into one single trade. The remaining 20% will be allocated to high-risk, high-return investments.
Stay safe and wise in your trading endeavors!
Ryan Holmes
Cryptocurrency Investment Diary, 12th Mar 2022.