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16 Important Tips Before Trading Cryptocurrencies

Technical analyst Miles Deutscher presented 16 trading tips aimed at helping investors in the volatile cryptocurrency bull market.

His advice provides a roadmap for managing emotions in the psychological market cycle, ensuring crypto enthusiasts optimize their potential.

Trading Tips to Maximize Profits

Deutscher's philosophy is based on the principle of simplicity. ANDStress He stressed the importance of private equity strategies, warning against the temptation of complex maneuvers that promise quick profits. Deutscher urged traders to remain resilient, emphasizing that a strong thesis must be backed by conviction.

This approach aims to build confidence and strengthen the investor's position in the face of market unpredictability.

He also advised to give preference to new coins over old ones. He noted that the former often opens up untapped opportunities that can lead to significant benefits. Well-known analyst Alex Kruger supported this opinion, emphasizing that... Ethereumonce a dominant force, faces significant competition from many new blockchains.

"Ethereum is a second or third generation asset that everyone in the West already has. We've already made money, so we need to hold on to it, protect it, protect it and promote it," Kruger explained. “But the new guys don’t want to buy our bags, they want our bags.” New."

Moreover, Deutscher warned against fear of corrections. Remind traders that this temporary decline provides valuable buying opportunities at lower prices. “Zoom out,” he said, urging investors to maintain a broader view of their investment journey, focusing on long-term growth rather than short-term volatility.

This is often due to fluctuations in currency prices. Bitcoin Corrections follow periods of gains, typically in the 20% to 30% range that analyst Michael van de Poppe considers typical for the cryptocurrency market. These adjustments act as a beneficial reset, setting the stage for subsequent stages of development.

General advice for people who feel rushed to get into Bitcoin or the markets: don't do it. Just don't listen to emotions. This is a recipe for disaster. How should you log in? Corrections will be 20-30%. Always. Regardless of the narrative. “Use this as an opportunity,” Van de Poppe said.

Be smart... and avoid emotional trading

In addition, Deutscher talked about the common experience of fear of missing out (FOMO) and understanding the psychological aspects of trading. He recommended starting with a small initial position in case of FOMO, about 20% of the ideal size, to reduce risk while still sharing in potential profits.

This conservative approach allows for gradual participation, reducing the likelihood of rash decisions caused by market noise.

Market leadership is another area that Deutscher highlighted, advising traders to be “long-term leaders, not laggards.” Investing in cryptocurrencies that show promise and leadership in the market may be a safer strategy than betting on poor performance in hopes of an improvement. Additionally, he stressed the importance of patience and a strategic exit, noting that investors are “exiting slowly” to maximize profits.


Deutscher's final tip involves lowering your IQ, which humorously suggests that overthinking can sometimes be detrimental to making effective trading decisions. He stressed the importance of improving information sources so that investment decisions are based on reliable and accurate data.

Finally, he reminded traders to "make hay while the sun shines," acknowledging that favorable bull market conditions won't last forever.

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