Analyst reveals 16 Crypto trading tips to maximize returns

Technical analyst Miles Docher has unveiled 16 trading tips aimed at guiding investors through the volatile crypto bull market.

His recommendations provide a roadmap for navigating emotions in the psychological market cycle, which crypto enthusiasts can maximize their potential.

Marketing tips to maximize returns

The main principle of Deutscher's philosophy is simplicity. He emphasized the need for straightforward investment strategies, warning against complex moves that promise quick returns. Deutscher encouraged traders to persevere, stressing that a strong thesis must be supported by conviction.

This approach aims to instill confidence and fortify the investor in the face of market volatility.

He also advised them to choose new coins over the old ones. The predecessors often pointed out that untapped opportunities could yield huge profits. Well-known analyst Alex Kruger echoed this sentiment, stating that Ethereum, once a dominant force, is facing intense competition from many new blockchains.

“Ethereum is a second or third generation asset that everyone in the West owns. We have already made our money, so we are attached to it, we protect it, we protect it, we protect it. But the new people don't want to buy our bag, they want a new bag,” explained Kruger.

Read more: 13 Best Altcoins to Invest in February 2024

Deutscher also warned against fearing corrections. Traders are reminded that these temporary baits provide valuable opportunities to buy at low prices. He urged investors to take a broader view of their investment journey by focusing on long-term growth rather than short-term fluctuations.

Price fluctuations in Bitcoin often include corrections followed by growth periods of 20% to 30%, a pattern analyst Michael van de Pop says is common in the cryptocurrency market. These adjustments serve as an important reset, setting the stage for the next stages of development.

“General advice for people who feel rushed to get into Bitcoin or the markets: Don't. Don't just listen to the feelings. It's a recipe for disaster. How should you log in? There will be 20-30% corrections. Always. Whatever the narrative. Use those as opportunities,” Van de Pop said.

Be smart, avoid emotional trading

Moreover, Deutscher explained the common experience of fear of missing out (FOMO) by understanding the psychological aspects of business. If FOMO strikes, he recommends starting with a small initial position, about 20% of the ideal amount, to reduce risk while still participating in potential benefits.

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

Leadership in the market is another area where Deutscher excels, and advises traders to be “long leaders, not laggards.” Investing in cryptocurrencies that show promise and leadership in the market can be a safer strategy than betting on underperformers hoping for a turnaround. Additionally, he stressed the importance of patience and strategic exits, suggesting that investors should “slowly ladder” to achieve higher returns.

Read more: 9 Best Crypto Day Trading Courses for Aspiring Traders

Deutscher's final piece of advice involves lowering one's IQ, suggesting that overthinking can sometimes be detrimental to making effective business decisions. He also emphasized the importance of refining data sources to ensure that investment decisions are based on reliable and accurate information.

Finally, the favorable conditions of the bull market will not last forever, he urged traders to “make hay while the sun shines”.