Cryptocurrency investment skills
1. Be good at waiting for opportunities. Investors do not need to enter the market every day. Beginners are often eager to trade, but successful investors wait for opportunities. When they enter the market and feel uncertain or confused, they will also leave the market first and adopt a wait-and-see attitude.
2. Do not overtrade. To become a successful investor, one principle is to always maintain more than 2-3 times your capital to cope with price fluctuations. If your funds are insufficient, you should reduce the trading contracts you hold; otherwise, you may be forced to 'liquidate' due to lack of funds, and even if your foresight proves correct afterward, it won't help.
3. Do not let a few points affect your decisions. In cryptocurrency trading, when making a profit, do not blindly pursue whole numbers. In practice, some people set a profit target after establishing a position, waiting for the target points to be reached before exiting, always anticipating that moment's arrival.
After making a profit, sometimes the price is close to the target. At this point, the opportunity for a profitable flat position is very good, but if it is just a few points short of the target, one might miss the best price waiting for the original target. Remember, it is not worth it to let a few points affect your decisions; do not expect to get the lowest price.
4. Pay attention to opportunities in the market. The market refers to a situation where price fluctuations are narrow, and buying and selling forces are evenly matched, temporarily in a tug-of-war state. Whether in a rising market or a falling market, once the market ends and breaks through resistance or support levels, prices will break out and advance.
5. Strictly implement stop-loss points. Set a stop-loss point, and once the market reverses and the exchange rate falls to the stop-loss point, be decisive in cutting losses. This is a very important investment skill. Due to the high risks in the cryptocurrency market, in order to avoid losses from potential investment mistakes, we should set a stop-loss point every time we enter the market, meaning that when the exchange rate falls to a predetermined level and may continue to drop, we should immediately close the position.
A person's potential distance depends on who accompanies him; a person's excellence depends on who guides him; a person's success depends on who stands by him. There are no incurable pains, no endless downfalls; everything lost will return in another form. But if you have never walked hand in hand with me, how can you know that I cannot bring you the future you desire?
Thank you for reading, I am Awen! If you like my articles, you can click to follow me for daily updates on my trading ideas and techniques! If you are confused about market trends and cannot make accurate judgments, feel free to reach out to Awen for discussions on cryptocurrency trends.
