Summary of 10 years of cryptocurrency trading: 7 successful experiences!
I am a person who has decided to trade in cryptocurrency for life! The following are 7 pieces of advice I have summarized, hoping to help those friends who are determined to fight in the cryptocurrency circle.
1. Stable rising channel is an opportunity
When the price of a currency enters a stable rising channel, each callback is just a short rest, and it is a good opportunity for you to get on the train again. Remember, there is no currency that will rise forever. The callback is like the compression of a spring, and the higher it is compressed, the higher it will be.
2. Decisive exit from the descending channel
Once the price of a currency enters a descending channel, each rebound is just a temporary dead cat jump, which is a signal to get off the train. After the trend goes bad, it may take a long time to resume the rise. Don't blindly resist the order and waste time and energy.
3. Short-term fluctuations depend on emotions, and long-term fundamentals depend on fundamentals
Short-term ups and downs are mainly affected by market sentiment and fundamentals. Short-term operations can follow emotional fluctuations, but long-term investment should depend on changes in fundamentals, which determine the magnitude and sustainability of price fluctuations.
4. The bottom may not be the bottom you think
The "bottom" judged by humans in the market is mostly just halfway up the mountain. The real bottom is often a comprehensive reflection of emotions and funds. Therefore, don't blindly buy the bottom. Many times, 9 out of 10 times you buy the bottom will be trapped.
5. Good news does not always bring about an increase
Most news is not as real and valuable as you think. Behind the market is often an expected game. Many retail investors like to speculate on news, but many times what you hear is just what others want you to hear, and the real opportunity has long passed.
6. Avoid high leverage operations
High leverage does not mean a higher winning rate, but it will magnify the risk of loss. The market fluctuates, and excessive leverage may quickly double your losses. Maintain moderate risks and don't ask for trouble.
7. Stop loss and stop profit, maintain discipline
Set stop loss and stop profit points, and don't stare at the rise for too long. Many people make money in the bull market but lose money in the end because they don't know how to stop profit in time. Set a goal and stay calm when the market fluctuates.
Finally, let me share a potential coin I've recently noticed, ρꪊρρⅈꫀડ, which is on the Ethereum chain. I think it will increase by 2-10 times in the short term and 10 times in the long term.
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