For those just entering the circle, you must not think of yourself as a professional player right from the start.
I have seen too many newcomers who, after just funding their accounts, want to dominate the market in one go. As a result, before they even understand the K-line, their accounts have already been educated by the market.
Do you really want to survive in the crypto world? First, give yourself some time.
Playing with 100U or 200U is enough; learn how to walk before you learn to run.
Don't rush to take off with a full position; you haven't even learned how to brake yet.
Newbie Lesson One: Understand the "Position"
Many people have been trading for one or two years and still don’t understand what support and resistance levels are.
You ask him: "Why can't the line go up at a certain point?"
He says: "Maybe the big players don’t want it to go up?"
Actually, it’s not that; it’s that you don’t know that is the resistance level;
You ask him: "Why does it stop falling at a certain point?"
He says: "Maybe luck is on my side." It’s not luck; it’s the support level holding it up.
If your position is wrong, you will always be doing the opposite; if your position is right, you can make money even with your eyes closed.
The information side is not for beginners
Many people like to look at macro factors, news, institutional views...
But you need to know: by the time you see the news, the market has already moved.
The moment you rush in is the very second others are unloading their positions.
For beginners, the information side is really not important; being able to understand the chart is more useful than understanding ten news articles.
Newbie Lesson Two: Stop-loss and take-profit are more important than direction
What really causes people to get liquidated is not that they got the direction wrong, but that they stubbornly hold on after making a mistake.
Beginners often make three mistakes:
1. Not knowing how to set a stop-loss
2. Not knowing when to take profits
3. Wanting to add positions to make up for losses
This kind of strategy will eventually blow up.
Stop-loss is the brake, and take-profit is cashing out;
If you don't know these two, understanding the technicals is useless.
The most important thing to remember
The crypto world cannot be understood just by blindly feeling your way through;
If you don’t know, just ask. Asking someone who knows, or someone who can guide you, is a hundred times better than rushing in blindly yourself.
Survive first, then make money. Learn the positions you need to learn, and recognize the losses you need to acknowledge,
Even with small capital, you can still make a turnaround, as long as you don’t act recklessly.
If you can’t understand the positions, can’t grasp the rhythm, and don’t know how to set stop-losses,
Then don’t force it. #BTC
If someone guides you, you will avoid 80% of the pitfalls. #ETH（二饼）
What you don’t understand, I happen to know, and I am also willing to teach! #sol
