Important Money Management Tips
Managing your funds wisely in the volatile crypto market is essential to avoid significant losses. Here’s how we recommend allocating your trading capital effectively using the BingX Exchange:
Capital Allocation Plan
Imagine starting with $1,000 in your BingX account. Here’s a simple breakdown:
- $500 for Spot HODL
- $300 for Copytrading
- $200 for Trading/Signals
1. Spot HODL (Long-Term Investments)
- Use $500 to buy and hold solid projects with strong teams and long-term potential.
- Plan to hold these investments through 2024 and possibly into 2025.
- Key Tips for Spot Buys:some text
- Patience is critical.
- If the market drops, consider buying more instead of panicking.
- If the market rises by 50%, take some profits by selling a small portion, but don’t sell everything until Bitcoin’s Parabolic Bull-Run.
2. Copytrading
- Allocate $300 for Copytrading.
- How to Start:some text
- Find three reliable traders based on specific criteria (explained in our video or eBook).
- Copy each trader with at least $100.
- Sit back and let their expertise work for you.
3. Perpetual Futures Trading (Using Signals)
- Set aside $200 for Perpetual Futures trading.
- Use only 5%-10% of this amount ($10-$20) per trade to manage your risk effectively.
- Always trade with Isolated Margin to limit potential losses.
- Follow our detailed instructions in the provided resources for better results.
Additional Resources
- Watch the Video or Read the eBook for step-by-step guidance on Copytrading.
- Full instructions for Perpetual Futures Trading are also available here.
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