Risks are inherent or always there whenever we talked about investment especially Bitcoin and the whole cryptocurrency community. But how do you deal with these risks? What are your experiences or even techniques in managing risks? In minimizing risks or even eliminating it?
There is no way you can eliminate risk for good, this is investment and there will always be risk in it. It’s then left for you to avoid it completely or maybe minimize the loss. If you talk about minimizing risks, then how you do that is by cutting your loss when the price is down and investing back when there are signs it will go up again. And by doing that (cutting loss) you’re going back into it when the price is low, which means that there are chances of making huge profit when it goes up.
You can eliminate risks, but you can take steps to lower the risks you confronting. I think that everything is in the head! When you know that everything
is in your head, only with control over your mind you can deal with it. My technique with crypto-currencies is the same like with my job. I plan something,
I plan it the best I can, I execute it and I hope for the best. There is no stepping back, or withdrawing.
The biggest problems comes in hard times. In tough times, people panic, people do crazy thing. I`m trying to be calm and do nothing that can hurt my plan.
I try to improve my plan if I can, to add something more, never to cut loses and quit!