After seven years of trading cryptocurrencies, I have summarized 16 key experiences.
Using a few of these, you can become a money printing machine in the crypto space!
1. Choose altcoins during a bull market, and hold BTC, ETH, and several mainstream coins during a bear market. This is my unique secret!
2. Pay close attention to coins that are seeing increased volume at the bottom; this is a signal for a potential rally, don't miss it!
3. For coins in an upward trend, the best buying opportunity is when they pull back to important moving averages, make sure to seize the chance!
4. Avoid frequent trading; making a few correct calls on major trends in a year is enough. Greed can lead to significant losses!
5. Always control your position size; never go all in. Leave yourself some room to adapt to market changes!
6. Don't average down on losing garbage coins; cutting your losses in time is the wise choice. Don't let yourself sink deeper!
7. News can only serve as a reference; don't blindly follow the crowd, or you'll bear the consequences yourself!
8. Avoid unfamiliar coins; focus on the areas you are knowledgeable about to ensure a higher chance of success!
9. Don't let market emotions sway you; stay calm and rational to make the right decisions!
10. When altcoins rise too much, they will definitely fall; if they fall too much, it doesn't mean they will rise. Choosing wisely is crucial—keep your eyes open!
11. When most people are optimistic, it's often a sign that a risk is approaching. Remember this and don't become the one left holding the bag!
12. Learn to stay in cash and wait for clear signals from the market before entering. This helps avoid unnecessary losses!
13. Don't chase hot trends; they often come quickly and disappear just as fast. Don't let yourself get trapped!
14. Have your own trading system and strictly adhere to it to maintain stable returns!
15. Investing is a marathon; maintaining a good mindset will help you win in the end. Don't let yourself give up halfway!
16. Investing doesn't guarantee profit; it often leads to losses. Therefore, try to use spare money for investments. When you use spare money, your mindset improves, increasing your chances of winning. Remember this and don't let investment lead you into difficulties!