Why do many people invest and are destined not to make big money?
It's simple: most people are driven by emotions in investing and making money, rather than focusing on profit.
Trading cryptocurrencies is essentially the same; once you understand it, the next step is execution. If you diligently follow these six points, your wealth will continue to grow!
1. Trend is King
The trend is the core of profit; without a trend, there is no profit effect. Large capital often only participates in trending markets; if there is no suitable trend, it is better to stay in cash and observe or only test with small amounts.
2. Carefully Choose Strong Coins
Choosing coins directly relates to success or failure. Strong coins typically exhibit a one-sided upward trend, characterized by significant gains and small retracements. Choosing the right coins can grasp the opportunity for profit.
3. Patiently Wait in Cash
Do not blindly chase high prices; patiently wait for the bottom or a temporary bottom opportunity. Conduct thorough research before entering, selectively choosing coins with strong trends and good technical patterns, and avoid weak coins.
4. Firmly Hold Positions Until Prices Rise
After buying, hold firmly until a peak formation appears; do not be swayed by short-term fluctuations, and only consider exiting when a clear peak signal appears.
5. Give Up Tail Risk
When prices rise to relatively high levels, decisively take profits. Tail-end market risks increase, and timely profit-taking can lock in profits.
6. Timely Cash Out
Quickly exchange profitable portions of stablecoins into fiat currency to ensure sufficient cash flow to support life, achieving a balance between investment and living.
The cryptocurrency market is full of uncertainty and challenges, but it also contains potential opportunities. Investors should fully understand the related risks when participating in cryptocurrency investments, remain calm and rational, and respond to market changes with a prudent strategy!
