Trading cryptocurrencies is not as simple as you think; it's not just about buying and selling for endless profits. A qualified cryptocurrency trader must understand economics, follow news trends, be aware of national policies, care about international situations, research the fundamentals and technicals of virtual currencies, and continually battle their own fears and greed. One must have a strong heart to withstand significant ups and downs, going from nothing to something and back again, resisting temptation and enduring hardship. Those who survive in the crypto world are generally resilient, immune to negativity, and have been tempered by experience.
Three Principles of Investing: Principle One: Strictly control the position at 50% when entering, allowing for retreat and attack. Never go all in; if the market crashes, even the best cannot save you. Principle Two: Once the price rises by 2-3 times, be sure to sell half first. After recovering the initial investment, we can use profits to slowly engage with the market until we reach our desired price, then we can gradually sell. We keep 10% as a base position to avoid missing out on benefits from strong market movements. Principle Three: When the market is crazy and everyone is chasing after rising prices, you must gradually sell off your chips in stages. Don't be deceived by the numbers in your account; only the money in your pocket is truly yours, and the account balance is just a string of numbers.
Three Secrets of Trading Cryptocurrencies! Secret One: Avoid small, unregulated trading websites for large investments; choose reputable platforms like Huobi or Bit Times. Secret Two: There are many recent crowdfunding cryptocurrencies; be cautious. Not all are bad investments, but many are traps. Don't rely on luck; understand thoroughly before investing. Crowdfunding opportunities should not be approached like gambling. Secret Three: The crypto market is currently sluggish, and the big trends are cooling down. Focus on short-term observation and act decisively when the time is right. For long-term investments, consider top 20 global quality cryptocurrencies and build positions gradually at lower prices. (Remember, do not go all in; that is, don't buy too many coins at once. Start with half your intended investment, controlling risks and funds. If the price rises or falls, you can adjust your positions accordingly. This will be more beneficial for making profits. If you don't adjust in time, minimize losses. Trading cryptocurrencies is ultimately for profit, so be prepared to avoid unnecessary losses.)
Finally: An essential point, do not follow the crowd. Many newcomers start trading cryptocurrencies and see discussions in groups where people say to sell or there will be a crash. This is often the most foolish advice because many people either have no holdings or are trying to scare beginners into panic selling, causing you to sell at a low price. Some cannot withstand the fear and quickly dump everything they have. After you sell, those who scared you will buy your holdings at a low price, leading to your losses while they profit. Trading cryptocurrencies is always about your own judgment; others can only offer suggestions.