How can one make money in cryptocurrency trading?
1. The fluctuations in price along the investment road are like the ups and downs in life. When the price of a coin enters a stable upward trend, each pullback is like a rest stop on the journey, and this is our perfect opportunity to enter the market. It's important to understand that there is no coin price that rises indefinitely; pullbacks are like a compressed spring, preparing for a stronger leap later.
2. If you find yourself in a clear downward channel, any rebound should be a signal for us to exit. Once the trend deteriorates, returning to an upward path may require a long wait. Do not blindly hold on; do not waste time unnecessarily.
3. The short-term fluctuations in coin prices are mainly influenced by emotions and fundamentals. However, in the long run, do not be misled by small, immediate profits. Just like the current market situation, while the influence of emotions is certainly important, the fundamentals determine the magnitude and duration of the rise.
4. Artificially determined bottoms are mostly not true bottoms; they may only be halfway up the hill. The formation of a real bottom depends on market sentiment and capital flow. Therefore, do not blindly attempt to catch the bottom; often, nine out of ten attempts to catch the bottom lead to being trapped.
5. Do not overly rely on positive news; the key to a real market lies in expectations. Many retail investors prefer to trade based on news, but what they hear is mostly what others want them to know. Even if the news is true, by the time it reaches your ears, the market may be nearing its end.
6. Avoid casually increasing leverage; this does not increase the probability of winning. Once losses occur, the figures will be magnified infinitely. Do not add unnecessary risks to yourself.
7. Try to go against the trend; you might achieve unexpected gains.
8. In cryptocurrency investing, maintaining calm is key. In the face of market noise and temptation, do not let emotions dictate your decisions; make rational choices. Remember, impulsiveness is often the enemy of investment.
9. Continuously learning and summarizing experiences is crucial. The market is ever-changing, and only by continually improving your understanding can you better seize investment opportunities and avoid making the same mistakes repeatedly.
10. Have a firm belief and patience. Investing is not a quick success; you may encounter setbacks along the way, but as long as you firmly believe in your judgment and wait patiently, the moment of harvest will eventually arrive.