đ± 8 Essential Tips for Trading Meme On-Chain Tokens
FOLLOW TRADER Janeth_Vaslyko in InslagrammđŻ TO EARN PASSIVE INCOME FROM TRADING
Over these days, I have compiled a short list of basic recommendations based on my own experience trading meme tokens on-chain. I hope this helps you better navigate the trading landscape and sheds light on strategies to maximize profits and minimize risks.
1. Capital Rotation: Allocate your capital wisely between meme tokens, avoiding the temptation to chase every new trend and concentrate your risk in a single token.
2. Speed ââPriority: Use sniper bots to quickly open trades on newly created pairs and gain an advantage ahead of the conventional market. Use trading bots on Telegram to execute trades faster.
3. Follow Insiders/Influencers: Watch the actions of insiders who quickly find and invest in promising meme tokens, potentially uncovering hidden gems.
4. Do Your Own Research (DYOR): Conduct your own extensive research before investing, considering factors such as team authority and experience, tokenomics, smart contract code, social engagement, etc.
5. Identify Narratives: Anticipate events by identifying new narratives at early stages and take advantage of emerging trends for maximum profits.
6. Risk Management: Allocate only a small portion of your portfolio to meme tokens and invest only what you can afford to lose.
7. Stay Firm in Your Strategy: Maintain discipline and consistency in your trading approach, avoiding emotional decisions.
8. Cut Losses and Let Winners Run: Maintain successful positions and cut losses on tokens that consistently underperform, reallocating capital to promising opportunities.
