First point: You must understand how to stop losses and take profits.
We trade cryptocurrencies for trading and speculation, not to hold onto them forever! When you are making money, you think about making more; when you are losing, you are unwilling to sell. This mindset is definitely undesirable. When the position's trend is wrong, it is necessary to decisively sell.
Second point: Don't always think about buying at the low and selling at the high.
Because the market will only have lower points and higher points. We ordinary people cannot achieve this mechanism, so do not pursue so-called highs and lows. What we truly need to do is buy and sell in the bottom and top areas.
Third point: Volume and price must perfectly match.
For those positions that are rising without volume or are reaching new highs without volume, we must be vigilant. It could very well be a signal of the main force being unable to sell off, leading to a rise that is exhausting. Never chase; it is better to miss out than to make a mistake.
Fourth point: Reactions must be quick.
When information arises, we must immediately identify which beneficial sectors and companies are involved. If you cannot keep up with the first tier, then we must promptly act; the second tier will also yield considerable gains.
Fifth point: Learn to rest.
As the saying goes, it takes three months to see the bottom and three days to see the top. This means that there is only a short period of time known for the main rising wave of the cryptocurrency price cycle. Therefore, we must learn to seize this main wave; usually, we rest during other times.
Sixth point: The biggest benefit in the market is a crash, as it often brings many greater opportunities afterward.
When others are greedy, you must learn to be fearful; when others are fearful, we must be greedy. So when the market experiences a crash, do not be afraid. At this time, we should choose quality positions and enter them promptly.
These six points are relatively simple to say, but few can truly achieve them. Why? If you cannot overcome the weaknesses of human nature, you will never earn your first five million in your life.
