In the cryptocurrency world over the years, from initially losing everything to having ups and downs in the middle, now I can finally make a living off this.
I'm not here to flaunt wealth; I just want to share some practical experience to help everyone—if you grasp these, it will be hard to lose money!
1. When the market plummets, if the coins you hold don't drop much, that means there's a market maker supporting the price. Hold onto such coins, and you will definitely reap rewards later!
2. Beginners should not overthink buying and selling; pay more attention to macro news. For short-term trading, watch the 5-day moving average: if the price is above it, hold on; if it breaks below, run quickly. For mid-term, focus on the 20-day moving average, the same rules apply. Don’t get caught up in fancy tricks; be decisive when you see the right opportunity!
3. For coins held short-term, if there's no activity for three days, change them quickly; if you buy and the price drops, cut losses directly after losing 5%, don’t hesitate!
4. If a coin drops to half of its highest point and continues to drop for nine days, it has bottomed out, and a rebound is imminent—get in quickly!
5. To play the coin market, you must follow the leader; the one that rises the fastest is it, and the one that resists declines is also it. Don’t hesitate to buy just because the price seems high, and don’t blindly catch falling knives when the price drops; you must chase the leading coin's upward movements and take profits!
6. Stop trying to catch the bottom; falling coins are like jumping off a building without a safety net. If you need to cut losses, do so; following the trend is the only reliable approach. Buying coins is not about getting them cheaper, timing is what matters most!
7. Don’t get carried away with making small profits; making money once is easy, but making money every day is hard. After each profit, reflect: is it because of your skill, or just plain luck? Having your own trading strategy is the key!
8. If you’re unsure, stay in cash; being in cash is not embarrassing, losing money is! Remember, you are here to preserve your capital, not to be a gambling god! Trading is not about speed, but about success rates and profit-loss ratios!
The cryptocurrency market is highly volatile, challenging yet full of opportunities. Investors must thoroughly understand the risks before entering, remain calm and rational, and use a stable strategy to deal with market changes!
