Investing guide for beginners. Is difficult to stick to below points; but if you can you will be more successful than 90% of investors.

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I wanted to write down a short guide to help new investors (for crypto but can apply to stocks as well). this is the kind of advice I never had and to learn with experience cost me lot of money and stress. Is a bullet guide, point by point.

work on your psychology. If you manage to control your greed you will be successful. Don’t underestimate this point, may be the most important. do not fall to FOMO (fear of missing out). jumping on the train that already left is most of times a bad decision do your research. Do not blindly invest following other advices (just take info from others as a starting point) remember to take some profit when markets are emerald green and secure them. Buy and Average down when markets are bloody red. It seem easy to say but is extremely difficult to do; psychology under control will help you. Never buy when markets are near previous ATH (all time high) and always green. learn to take a loss. accept that is part of the game. take a break from investing if you see gambling dynamics kicking in (example: you lose and you invest more in same position to try to recover… well, that more likely will increase your losses) do not YOLO (you only live once). Going yolo don’t make you an hero. Most of times you risk to lose everything. Ok you will have a nice story for Reddit but you will find yourself flipping burgers for long time invest only your money. Do not invest other people money or borrowed money. Debt is the start of financial ruin do not make trading with leverage. As per personal experience gambling kick in and you will lose high (-20k$ for me…. I quit trading) if you are in a good project think long term. Keep psycho calm during market waves. Historically markets always shot higher after every crisis. HODL is the key. learn how to read charts. Is not difficult and can help making your decisions to open or close a position capital rule: put your eggs in different baskets (who went all in in luna is in ruin now) always split your investment in solid projects (BTC, ETH) and keep a minor part for risky coins. High risk high reward, but in a bear market you risk losses >90% read news, stay informed. Is best way to be an early investor in new projects when you read about a project in social media is already too late pay attention to DEFI. Seem like there are high rewards but risk of losses is massive invest in crypto only part of your savings. If things go wrong you need a way out set up your own strategy and goals. Try to stick to it and don’t be much emotional.

Hope this is helpful to someone. Enjoy crypto and best of luck

submitted by /u/Elleucas
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