BTC Trader｜Insights
#Bitcoin #InvestingRequiresCaution It's been half a year since I entered the crypto world. In fact, trading is about trading oneself. Being able to see oneself clearly is more like a form of cultivation.
1️⃣ Positioning: Newcomers in the crypto world must determine which field they want to make money in, what their personality is like, and in which field they are suited to make money. Those who can remain stable should focus on spot trading, while those who are flexible are suited for contracts. Don't be greedy with little funds and want everything.
2️⃣ Continuous Learning: Don't just say you want to make money without understanding basic knowledge and operations, such as what candlesticks are, what moving averages are, and how to enter and exit trades. Also, learn from those in the community who have practical experience and have been around for a long time.
3️⃣ After understanding operations and basics clearly, don't invest too much in trial trades. Learning to manage risk is very important.
4️⃣ Control the desire to make trades every day; opportunities do not come every day. You must be calm, patient, and observe and wait, like watching prey, and strike when the moment is right.
5️⃣ Risk Management: Don't chase after rising prices or panic sell when emotions run high. Avoid blindly following trends. Know how much money you have and learn to manage your position sizes in battle since what really matters is who can last longer.
6️⃣ Daily review of your thoughts and actions before, during, and after opening trades is particularly important. Understand why you made mistakes, why you made money on certain trades, until you find a trading method that suits you.
