My friends who have been trading cryptocurrencies for many years but have not made a million dollars,
1. Don't mess around when you have little money! It's enough to seize one opportunity for significant growth per year. Don't invest all your money. Keep some cash to protect yourself so you can cover your position in case of a downturn.
2. The more you know, the more you'll earn! Don't touch coins you don't understand. It's okay to practice on a demo account, but your mindset is completely different when you're trading with real money. Learn them first, then take action.
3. Don't be greedy for good news! If you don't sell it that same day, sell it quickly if the stock opens higher the next day. Everyone is waiting for good news to sell, and a high opening is an opportunity to escape. If you delay, you may lose money.
4. Reduce your holdings one week before the holidays! During the holidays, no one trades in the market, and prices are subject to sharp rises or falls. Don't take risks. It's better to spend the holiday in peace.
5. For medium- and long-term transactions, remember to "buy low and sell high"! Buy in batches when the price is low, and sell in batches when the price is high. This way, you can reduce costs, have flexible funds on hand, and avoid worrying about market fluctuations.
6. Choose only popular currencies for short-term trading! Don't touch currencies with small daily trading volume. If no one is taking over, you'll fall into the trap once you buy. Follow products with large capital flows. Only with good liquidity can you make money.
7. Remember this rule: Coins that fall slowly are likely to rise slowly later; but if they fall suddenly, they will rise quickly. You can seize this opportunity, but don't be greedy.
8. Be decisive when stopping your loss! If you buy the wrong stock, don't hold on to it. Admit your mistake and sell at a loss when the time comes. Only by protecting your capital can you have a chance to turn things around. If you just wait to get out of the trap, you could get into deeper trouble.
9. For short-term charts, look at the 15-minute K-line chart! Focus on the KDJ indicator. Sell when it reaches the top (overbought) and buy when it reaches the bottom (oversold). Combine it with the MACD and RSI to provide helpful guidance. Don't just look at one indicator.
10. Don't learn too many skills! Mastering two or three indicators, such as KDJ and MACD, is enough. Learning too many indicators will only confuse you. It's better to study one indicator carefully than all the others.
It's that simple, the essence is just two words: "self-restraint" - curb greed, curb repetitive processes, protect principles, seize big opportunities, which is more practical than anything else!
