Try to choose mainstream coins, Bitcoin and Ethereum, with low volatility that can be held long-term and low risk. Many newly launched altcoins can easily surge or plummet, and beginners without insider knowledge are likely to get cut. It is recommended to allocate 80% to mainstream coins and 20% to speculative altcoins.
Seize the right moment, don't buy all at once! Split purchases into 2-3 times: buy once when it drops by 10%, to lower your cost. Remember to keep some cash as a reserve.
Set a goal; consider selling a portion when you make a 10%-20% profit, don’t be greedy! Secure your gains first.
Trading cryptocurrencies shouldn't be so rigid; 99% of people have made these mistakes. Correcting these bad habits can help you make consistent profits! Read carefully! It will help you avoid detours!
1. When you encounter a good coin but clearly have no buying point, yet you really want to buy, fearing it might soar without you, even chasing it at a high price to enter, at this moment your eyes are solely focused on it, this is obsession!!
2. When doing value investing, you only pay attention to the price. When the price rises, it’s good and meets expectations, but if the coin price falls, you selectively ignore that the coin price is at the end of a large cycle's upward momentum exhaustion structure and has already realized its valuation, desperately finding various fundamental supports to bolster your viewpoint, this is obsession.
3. When your trade is stuck, you suddenly become a very determined bull, you can’t tolerate anyone singing bearish about it, you are controlled by emotions, having lost your rational judgment ability; you only want to listen to bullish analyses, this is obsession.
4. You obviously judged incorrectly; you could take a short-term stop-loss and exit here, but you keep staring at the account because you only allow yourself to exit when in profit and do not allow yourself to close losses, resulting in increasing losses, turning a short position into a long one. This is obsession.
5. A coin once hurt you, and you will despise it for a lifetime; when a great opportunity arises, you won't buy it again, this is obsession.
6. When you sold a coin short and, based on your judgment, this coin still has a lot of upside potential, even if you go back now, it would only increase the cost by two points, yet you absolutely refuse to chase, this is obsession.
7. You want to buy every day, even if there’s no buying point, you have to buy, buying randomly, even using the last penny in your account, this is obsession.
8. Lacking patience, unable to hold onto coins, and cannot stand not moving on a short position, this is obsession.
9. When you've been following a certain pattern for a long time and have been losing for a long time, yet you still refuse to change your mindset, this is obsession.
11. When you have made an 18% profit, there are actually signs of a short-term upward exhaustion, but you insist on waiting for 20% to take profit, this is obsession.
12. When you are stuck with a 5% loss on a 10% position, but you don’t understand the structural trend, you refuse to cut losses and insist on continuously averaging down, determined to make money on this trade, resulting in a heavy position being stuck until it becomes irreversible, this is obsession.
13. When you have one success due to survivor bias and persistently believe this method is feasible, but subsequent practice repeatedly proves you were wrong, yet you refuse to admit it and stubbornly stick to your ways, this is obsession.
14. When a trade deviates from your expectations, you will regret and stew over it for a long time, repeatedly reflecting and chewing on it, this is obsession!!
Lastly, both entering and withdrawing funds have risks of frozen accounts, especially withdrawals, as it's easy to receive dirty money. Be sure to be aware of prevention and never be greedy for high prices.
Follow Sister Wan, avoid detours, and simplify complex problems.
