One: Do not trade with debt; trading with debt is overextending yourself, and this is the most important.
Two: Those who play contracts will eventually lose everything.
Newcomers should never touch high-leverage contracts. Human desire is infinite; if you make money, you want to make more, and if you lose, you want to make it back. After trading a hundred times, even if you lose control just once, all previous gains and principal will disappear.
Three: Make more acquaintances with veterans in the crypto space.
Four: You can spend a little money to join some paid groups; who to choose is up to you, as long as you think this blogger is reliable and can truly teach you something, learning their trading ideas.
Five: Do not buy hot coins.
When a coin is at its hottest, or when the market is crazy about a certain coin, it is basically approaching its end. At this point, if you were already holding this coin, you might consider selling. If you do not hold this coin, it is best not to enter the market anymore, as there is a 90% probability that you will just be taking over someone else's losses.
Six: Do not trade on small exchanges; small exchanges always carry the risk of going offline or pulling the plug, and all money inside will become inaccessible.
Seven: Understand what a 'shitcoin' and mainstream coins are.
Shitcoins are bets made on-chain. Due to their low market value, they can fluctuate greatly, easily multiplying by dozens or even hundreds of times, but the risks are also high, with a significant risk of losing everything.
Altcoins are similar to Bitcoin and Ethereum derivative coins, with different backgrounds and trends!
Mainstream coins refer to cryptocurrencies like Bitcoin, Ethereum, and Solana.
Eight: Understand what primary and secondary markets mean.
Coins that you can buy on all exchanges are secondary trading.
Primary refers to on-chain trading, which is buying on decentralized exchanges or Web3 wallets. It is not recommended for newcomers to engage in the primary market, as it is very easy to be scammed by playing with PiXiu coins.
Nine: Understand what left-side trading and right-side trading are.
Left-side trading: This is when the market has not yet become clear, meaning buying below the price/selling above it, mainly operating with limit orders. For example, trying to catch the bottom during a decline, believing that this position will stop the drop. This approach involves relatively high risks.
Right-side trading: This means waiting for the market to show its direction, such as when the price starts to rebound or breaks through/breaks down critical positions, then entering the market. This means chasing up or down; it is safer but may not capture the initial profits.
Ten: Continuous learning is essential; one cannot earn money outside their understanding. Even if you make a lot at first, if your understanding does not match, you will quickly lose it back, and it could lead to serious debts. Always keep learning to improve your understanding!
I hope every newcomer who just joined the cryptocurrency market can avoid unnecessary detours. Although you will encounter various setbacks and losses, these are challenges you need to face to grow quickly!
Keep up with Jidong, use precise strategy analysis, and select with millions in AI big data to secure your position? The market has never lacked opportunities; the question is whether you can seize them and follow experienced and right people to earn more!
Keep an eye on: SXT PEPE MOODENG.
