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On this page
  • A Little Goes a Long Way
  • Missed Opportunities Are Better Than Losses
  • Use Reliable Tools
  • Monitor Transaction Counts
  • Regularly Refresh Your Portfolio
  • Use a Separate Wallet for High-Risk Tokens
  1. TRADING GUIDES
  2. Getting Started

Additional Tips for Beginners

A Little Goes a Long Way

In high-risk markets, even a small investment can yield large returns if you choose wisely. Instead of putting large amounts into every token, invest modestly and spread your bets.

Missed Opportunities Are Better Than Losses

Take profits early and avoid waiting for a β€œmoon” scenario. Aim to secure gains, even if small, rather than risking a total loss.

  • One common strategy to take intial investment after token doubles in price. This way you take profit but you still have more tokens if the token will increase in price later.

Use Reliable Tools

Check token safety on platforms like TokenSniffer or Honeypot.is to confirm whether a token is verified, has locked liquidity, and is free of suspicious functions. These tools help assess potential risks, but don’t rely on them entirely.

Monitor Transaction Counts

For newer tokens, look at the number of buys and sells. Healthy tokens tend to have a high number of transactions shortly after launch. Low transaction activity, especially if there are few sells, can be a red flag.

Regularly Refresh Your Portfolio

Many tokens, especially smaller ones, have short lifecycles. Every few days, assess your holdings and consider β€œresetting” by selling off less promising tokens. This keeps your portfolio lean and allows you to hunt for new opportunities.

Use a Separate Wallet for High-Risk Tokens

For security and better organization, use a fresh wallet specifically for speculative or high-risk tokens. This keeps your primary wallet safe from potential exploits.

Last updated 6 months ago

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