After many years in the crypto space, Xiao Mei has summarized a few trading insights to share with everyone, helping to navigate your trading journey with fewer pitfalls and steady profits!
1. Don't hesitate on stop-loss and take-profit; we trade cryptocurrencies to make money, not to be 'long-term shareholders.' When you make a profit, you always think about making a bit more, and when you incur a loss, you hesitate to sell. This mindset will lead to losses! As soon as the market moves against you, don't hesitate, sell quickly.
2. Don't get fixated on 'highs and lows'; there are no absolute lows and highs in the market, only lower and higher. Ordinary people can hardly pinpoint these, so there's no need to waste effort on that. Just recognize the 'bottom area' to buy and the 'top area' to sell.
3. Be cautious of mismatched volume and price; if you encounter a price increase without trading volume, or if it hits a new high but still lacks volume, be very careful! This could likely be a signal that the main players cannot offload their holdings and that the market may be about to pause. It's better to miss out than to buy incorrectly.
4. React quickly to news; whenever there is new information, first clarify which sector and which cryptocurrencies it benefits. If you miss the first wave, quickly focus on the second tier, as you can still make a decent profit.
5. Learn to rest to earn; as the old saying goes, 'three months to see the bottom, three days to see the top.' The real surge in cryptocurrency prices, the 'main upward wave,' lasts only a short time. Seize this opportunity, and don't waste time fidgeting during other times; just take it easy.
6. A sharp drop is a great opportunity; the biggest advantage in the market is a sharp drop, as everything after the drop is an opportunity. Remember, 'When others are greedy, be fearful; when others are fearful, be greedy.' Don't panic during a sharp drop, quickly build positions in quality cryptocurrencies.
