I have summarized ten experiences to share with everyone. I hope it will be helpful to you. As long as you can do it, it will be difficult to lose money.
1. If the market crashes and your coins don't drop much, it means there are market makers behind them protecting them. Hold onto these coins, there will definitely be profits to be made!
2. Novice buyers and sellers, please remember to learn more about macro information. For short-term trades, look at the 15-minute daily chart. If the price is above the line, hold it. If it breaks, run quickly; for medium-term trades, look at the 1-day chart, the same principle. Don't do those fancy things, identify it and act decisively!
3. If you buy a short-term coin and it doesn't move for three days, quickly switch to the next one. If it drops after you buy it, cut your losses directly if you lose 5 points!
4. If a coin has been cut in half from the top and has been falling for nine consecutive days, it's completely bottomed out. A rebound is imminent, so get in the car decisively!
5. When playing with coins, follow the leader. It rises the most sharply and is also relatively resistant to price drops. Don't be afraid to buy because the price is high, and don't catch falling knives because the price drops a lot. Follow the leader by buying high and selling low!
6. Don't always think about bottoming out. Falling coins are like jumping off a building, there is no bottom line. Cut your losses when you should, and follow the trend is the right way. When buying, it's not about the cheaper the better, but the more opportune the better!
7. Don't get cocky just because you made some money. Making money once is easy, but making money every day is difficult. Every time you make money, look back and see if it was because you were awesome or just lucky. Developing your own trading strategy is the key!
8. When you are not sure, stay in cash. Staying in cash is not shameful, losing money is. Remember that you are here to preserve capital, not to be a gambling god! Trading is not about speed, but about success rate and profit/loss ratio! 9. New coins are initially favored, and investors entering bring a lot of funds, which increases demand and pushes prices up. But this influx of funds may lack solid fundamental support, and once market sentiment changes, rapid outflow of funds will lead to a sharp price drop. 10. Which coin is not pushed out by a group of like-minded people through a consensus mechanism? As a result? These people have also obtained countless wealth! Ten years in the coin circle is like a day in the human world.
