Veteran trader explains when it’s the best time to cash out of the market

The cryptocurrency market has had a wild ride in 2021. Bitcoin set a new record at $64,863, shocking its critics, and NFT and DeFi made headlines all over the globe.

Because the cryptocurrency market is notoriously volatile, traders should be cautious in times like these. Large fortunes can be lost in just a few hours or days if the trend changes.

Charlie Burton, a veteran trader and co-founder of Ezeetrader says this is the time when traders need to establish a set of rules to follow when emotions start to boil. “We are all flawed, fallible human beings, especially when it comes to the markets,” he said.

Burton stated,

“We are naturally affected by fear or greed to one degree or another.” We need some rules but I also believe that visualization is a good thing.

These rules could include things such as the percentage loss investors can place a stop loss at, the maximum amount of portfolio one can allow to trade and the setting of sell orders for investments.

Burton stated,

It is essential to have a lot of self talk. “If I take this trade and it fails, will I be upset about myself?” This is a good line to stop me jumping into trades I shouldn’t. You should do your research before making any investment or trading decision.

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Jason Basler

Jason Basler– Financial Updates My Name is Jason Basler and I am also the main source from the ‘Topnewsscoop.com’ of all the exclusive and most delicate visualization of the activities in the business sector. My first step towards this journey was taken in the very early years of my life. I started with an independent financial consultant. However, I only had almost 4 years of skills and experience in this market. I have always been a free personality and like to fly one place to another, to explore more and more. Moreover, this passion and craze of traveling gave me a chance to report a section for best news associations. Last but not least, I am presently working full-time as an editor. Address: 4830 Crim Lane Dayton, OH 45402, United States of America Phone Number:  +1 937 727 7917 Email: [email protected]

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