If you're in the crypto space and haven't made 3 million yet, your friends and family won't look up to you, then it's time to prove yourself. Here are ten key points to remember that will change everything for you 🛫
1. Don't mess around with little money! Just catch one big rise opportunity a year, don't invest all your money, keep some cash for safety, in case it drops you can average down.
2. Earn as much as you understand! Don't touch coins you don't understand, practicing on a simulation is fine, but buying with real money feels completely different, learn to understand before you act.
3. Don't be greedy with good news! If you haven't sold on the same day, sell quickly the next day if it opens high, everyone is waiting to sell off after good news, a high opening is an exit opportunity, if you wait too long it might drop on you.
4. Reduce your position a week before holidays! During holidays, the market has no trading, prices can easily spike or drop, don't take this risk, enjoying the holiday is more important than anything else.
5. For medium to long term operations, remember "buy low, sell high"! Buy in batches when it drops, sell in batches when it rises, this way you can lower your cost and have flexible funds, not afraid of market fluctuations.
6. For short-term, only pick popular coins! Don't touch coins with low trading volume, if no one is there to take your buy, you'll get stuck, follow the varieties with big capital flow, good liquidity means good profits.
7. Remember this rule: coins that decline slowly are likely to rise back slowly; but if there's a sudden drop, the rebound will be quick, these opportunities can be seized but don't be greedy.
8. Be decisive with stop losses! If you buy the wrong coin, don't hold on, recognize your mistake and cut losses promptly, preserving your principal gives you a chance to recover, waiting too long may lead to deeper losses.
9. For short-term, watch the 15-minute K-line chart! Focus on the KDJ indicator, sell when it hits the top (overbought), buy when it hits the bottom (oversold), and combine with MACD and RSI for auxiliary judgment, don't just look at one indicator.
10. Don't learn too many techniques! Master two or three indicators is enough, for example, KDJ and MACD are sufficient, learning too many will confuse you, understanding one indicator thoroughly is better than anything else.
It's that simple, the core is two words: "Restraint" - restrain greed, restrain frequent operations, preserve your principal, and seize big opportunities, that's more practical than anything else!
The crypto market is full of uncertainties and challenges, but it also contains potential opportunities.