Masterning Trading Psychology With Cryptocurrency: A guide to the use of protocol near (near)
Cryptocurrencies have revolutionized How Among the many cryptocurrencies there, one that stands out is near the protocol (almost), a popular platform for creating decentralized applications (DApps) that uses blockchain technology. Portfolio, helping to make the knowledge and maximize your yield.
What is trading psychology?
Trading Psychology Refers to the Set of Mental and Behavioral Factors It includes various aspects, including:
- Risk Management : The Way You Manage Potential Losses and Set Stop-Loss Levels.
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- Information Gathering
: Remain Informed About Market Trends, News and Analysis.
- Decision Making Criteria : Establishing Clear Rules for Evaluating Opportunities and Risks.
Near Protocol (Almost) General Presentation
Before we dive into commercial psychology, let’s review quickly near the protocol
* Blockchain Platform
: Built on the consensus algorithm (puzzle), nearby offers a safe, scalable and energy efficient experience.
* Ecosystem Dapps : It has a wide range of decentralized applications, including games, social media and entertainment platforms.
* The functionality of the intelligent contract :
Commercial Psychology for Almost
Now that we have covered the basic elements, to apply some principles of commercial psychology in the near portfolio:
- For example,
- Position size : determine the optimum size for each trade to make sure you are not excessive or sub-pivol. Report as a guide.
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- Emotional Control : Avoid impulsive decisions based on emotions such as fear or emotion. Take time to evaluate the situation before making a trade.
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Example of Trading Strategy: Almost Vs. Other Assets
The application for the Cryptocurrencies:
* Strategy: Buy 10% From Close When Its Price is Below $ 5.00, sell it when it reaches $ 7.50 (aimed at 20% profit) and rebalancing at market prices.
* Risk Management : Set and 30% Stop-Loss Level ($ 1.50) to limit potential losses.
Conclusion
Trading psychology is an essential aspect of successful investments in cryptocurrency. Principles presented above Remember to remain adaptable, continue to learn and adjust your strategy as the market conditions evolve.
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