I use the dumbest method of speculating in cryptocurrencies, which is often the most effective.
I have seen too many people blow up their positions, leave the market, and leave in disgrace. 90% of people can't stick to it. They all make three fatal mistakes:
The first is to buy on the rise.
When the currency rises, they get jealous, thinking "this wave can fly", but as soon as they buy, they smash it.
On the contrary, no one dares to buy when there is a real panic.
Those who can make "buy on the decline" a habit are really reaping the dividends of the cycle.
The second is to suppress orders.
I thought I could make a fortune if the direction was right, but the main force shook it, smashed a few needles, and directly cleared the market.
The third is to be overwhelmed with full positions.
As soon as the emotions come up, you go all in. Even if you guess the trend correctly,
you can't change or adjust your positions flexibly. You can only watch when you miss the real opportunity.
In the final analysis, you don't lose in the market, but lose to your own habits.
Must-read and write down the super useful six-word formula!
1. If the high-level consolidation is not over, the new high is often still behind; if the low-level sideways trading has no bottom, it is easy to create a new low. Don't take action before the market changes.
2. If the market does not move sideways, never leave. Most people lose their patience in the shock.
3. Buy when the daily line closes negative, and sell when the daily line closes positive. Going with your emotions is much better than making a whim.
4. If the decline is slow, it will not rebound high; if the decline is fast, there will be a sharp rebound. Only when the market rhythm is clear can opportunities be seen.
5. Use pyramid-style positions, enter the market in batches, and always keep bullets.
6. After a big rise or fall, there must be consolidation, and after consolidation, there will be a change in the market. Don't bet at a high point, and don't go all in at a low point. Wait for the signal to come out before deciding life and death.
Investors should continue to learn and practice, integrate these secrets, form an investment system that suits them, and at the same time maintain a good mentality. Steady progress in the ups and downs of the currency circle can increase the probability of profit in the currency circle and achieve steady growth of assets.