I used the dumbest method to trade cryptocurrencies, and my win rate is close to 100%! (A must-read for all cryptocurrency traders)
1. Don’t be greedy, start with one or two coins
The cryptocurrency market has as many virtual currencies as stars, with dozens or even hundreds available. However, we small retail investors have limited energy and money, so don’t think you can trade everything. It's best to focus on 1 to 2 coins, with a maximum of 3. If you have more, you won’t be able to keep up; when the market fluctuates, whether to buy or sell will be based on feelings, leaving no time for judgment, which can easily lead to mistakes. It's better to focus on mastering one or two, taking your time to understand them well.
$ETH 2. When prices are skyrocketing or plummeting, don’t act rashly
When the market is surging, do you think, "This coin is going to double, wealth is just around the corner"? Your mind is racing with one thought: "Quick, invest money, buy, buy, buy!" Conversely, when the market crashes, you feel like "It’s over, it’s going to drop to nothing, hurry and sell!" At such times, your heart races and you get flustered, making it easy to do something foolish. My advice is: when prices are too volatile, just don’t act, calm down and reassess, don’t let emotions lead you astray.
$BTC 3. Don’t invest all your money, maintain a steady mindset
#币圈 When trading cryptocurrencies, don’t go all-in (invest all your capital), it’s best to keep half or one-third of your money on hand. This way, if the price drops, you can average down, and if it rises, you can invest a bit more. If you invest too much, you'll be happy when it goes up, but panicking when it drops. When your mindset collapses, all your decisions get distorted. Leave yourself some room; don’t push yourself into a corner.
#比特币 4. Take your profits when you’ve made enough, don’t be greedy, and accept losses
#币圈暴富 When trading cryptocurrencies, set a target for yourself, such as selling when you've made a 20% profit, regardless of whether the price continues to rise. Many people want to make just a little more, but end up getting trapped; greed is human nature, and you must control yourself. The same applies when you’re losing; set a bottom line, for example, sell if you lose 10%, and don’t stubbornly hold on. Many trading platforms allow for automated buying and selling; set the price and let the computer handle it, instead of relying on your shaky hands to make decisions at that moment.
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