When I first entered the cryptocurrency world, I was also hoping to "make money quickly," but after a few losses, I almost gave up. Later, I gradually realized that making money here depends on practical methods and a disciplined approach, not luck.
The first rule to remember: Don't blindly follow the ups and downs of the market. When I was a beginner, I was always staring at the numbers on the screen. I often rushed in when the market was at its peak, and then quickly sold when it plummeted, resulting in significant losses. Later, I figured out the art of "following the trend"—following the market when it's rising, and holding back when it's fluctuating. This helped stabilize my profits.
Then there's position management, which is the bottom line. I once made the mistake of investing all my money at once, only to be devastated by unexpected events. Now, I stick to the rule: never invest more than 5% of my total capital at any one time. Even if you do lose money, you still have your capital, so there's always a chance to recoup it.
And there's the stop-loss, the shield that protects your principal. How can you avoid losses in this business? But stubbornly holding onto your stop-loss is pushing yourself into a dead end. I now set a stop-loss before every trade, and when it hits, I sell immediately without hesitation. This way, I protect my principal and have a chance to make it back later.
Finally, you have to keep learning and persist. The cryptocurrency world moves so fast that relying solely on intuition and guessing won't work. I now carve out some time every day to check the market, learn, and accumulate practical experience. Gradually, I've discovered that making money often comes naturally when you're well prepared.
The cryptocurrency world isn't a casino, but more like a competition where you must slowly grow. Whether you invest 10, 100, or 1,000 units, with the right method, adherence to the rules, and a bit of patience, you can always accumulate money.
