Do you also want to get rich in the cryptocurrency world? First safeguard your principal before talking about profits! These eight painful experiences will help you understand and avoid three years of detours!
1. Buy the dip to preserve your capital; seeking profits is greed.
When trading cryptocurrencies, it is inevitable that some coins will be trapped. At this time, remember not to fantasize about turning losses into profits instantly; a hasty pursuit of quick gains will only trap you deeper in a quagmire. You should honestly perform averaging down operations to protect your capital; only then can you maintain a steady cash flow like a gentle stream.
2. A calm surface hides a high wave; beware of the upcoming turbulence.
The cryptocurrency market may seem calm on the surface, but in reality, there are undercurrents. Do not be deceived by the insignificant small gains in front of you; always maintain high vigilance and be on guard against the potential for severe volatility that may follow.
3. After a big rise, there must be a correction; the K-line sketches a triangle over several days.
When the price of a coin is soaring, don't get carried away and lose your composure. Because after this frenzy, a correction will inevitably come. Operators need to watch the K-line trend; isn't it just an equilateral triangle formed over several days?
4. Buy on the dip, sell on the rise; act against the market to be a hero.
When buying coins, decisively enter during a downtrend; when selling, act decisively during an uptrend. Going against the trend can lead to unexpected victories, allowing you to become a hero in the cryptocurrency world.
5. Don't sell on highs, don't buy on dips, don't trade in a sideways market.
When the price of a coin is high, do not rush to sell, and when it dips, do not hastily try to buy the bottom. When in a sideways market, keep your hands firmly controlled, observe calmly, and respond to changes with invariability.
6. Look for support in an uptrend, look for resistance in a downtrend.
When the price is in an uptrend, closely monitor the support levels to prevent sudden falls; when the price is in a downtrend, pay attention to resistance levels to decisively buy the bottom at the right moment.
7. Full position trading is a big taboo; stubbornness is unwise. Know when to stop in the face of constant changes; be flexible in entering and exiting while observing the market conditions.
Do not engage in full position trading; going all-in is a poor strategy. The cryptocurrency market is unpredictable, so understand when to take profits and be able to enter and exit freely. Only by calmly observing the changes can you grasp the best timing.
8. Trading cryptocurrencies is about mindset; greed and fear are great harms. Be cautious of fluctuations; maintain a calm and relaxed state.
Sister only engages in real trading, does not boast, does not make empty promises. For brothers who want to turn their fortunes around, getting on board is the right move.