Set of guidelines to consider when trading in cryptocurrencies;
a) Never put all your eggs in one basket. Your capital should be broken into smaller lots for multiple positions at different price levels.
b) Do not invest your life savings or money that may change your life drastically in the event of a loss. This rule is important mainly due to the existing level of uncertainty that still exists within the Bitcoin market.
c) Take full advantage of available technology in order to gain maximum profit
d) Understanding the market is a continuous process and requires a lot of time, concentration and effort. It is very crucial to do research and be up to date with current trends.
e) Know when to cash in. It is important to stay focused, unemotional and professional.
f) Traders should keep in mind that losing, just as much as winning, is an integral part of trading. It is the cumulative gains that count.
