8 years of ups and downs, advice for beginners: never be too greedy❗
Dear family, I have been in the cryptocurrency world for 8 years, and I've seen too many people's rises and falls. Today, I want to chat with everyone about the importance of not being too greedy in the crypto space!
💸 The mentality of sudden wealth is a no-go: As soon as you enter the crypto world, thinking about going all in for financial freedom is a huge taboo! In the crypto world, a day is equivalent to a year in the real world; prices rise quickly but can also drop just as fast. This mentality can easily leave you unprepared for sudden price fluctuations.
📉 Chasing highs and panicking on lows is not advisable: Impulsively chasing after a price increase or selling in a panic when prices drop is one of the main reasons retail investors incur losses. You must remain calm and rational, judging the timing of buying and selling based on long-term market trends.
📢 Don't blindly trust rumors: In the crypto world, many “rumors” are manipulated by market makers to deceive retail investors into taking the bait. You must establish your own information assessment system and not be easily swayed by such news.
💰 Reasonably control your positions: Never go all in; divide your principal into several parts, using only one part for each trade, while keeping the remaining funds as a backup. For example, if you have 30,000 USDT, split it into three parts and use 10,000 USDT for each trade. This way, even if you incur losses, it won’t affect all your funds.
💡 Set profit targets and stop-loss points: Before entering a trade, set a profit target and stick to it; once reached, decisively take your profits. At the same time, set a stop-loss point — if losses reach a certain level, exit immediately to protect your principal.
In the crypto world, if you can control your greed, you've already won half the battle. I hope everyone can invest rationally and steadily make money in the crypto space~