When it comes to trading and investing everyone has their own set of rules they obey. I made a list with my rules and that made me curious, what set of rules do you use?
My own rules:
- Never invest in a program that "makes money for you."
I think you are talking about cloud mining, bitcoin doubler, HYiP and others which is pure scam.
- Never buy at a sudden rise in value but wait untill the market is stabilized.
Of course, never buy at top price. You should always buy when the price is cheap and hold in long term.
- Never have more than 20% of portfolio in one coin.
Not sure about this advise though. I assumed that there are a lot of members who hold bitcoins at 50%++ and the rest altcoins.
- Don't trust anyone!
Yes. No brainer here.
- Check the sources of news.
- Know the coin! Active team? Goals? Coin supply - market cap? exchanges? ...
Yes, we need to do our own homework. Check the team behind, whitepaper, road maps. Search the web for anything about the coin that you are going to invest and weight the risk.
And the golden rule: "
Invest what you can afford to lose. Don't put your life savings on crypto. At least give yourself some buffer in case something went wrong with your investment.