To be honest, if I had known that the cryptocurrency market was this "risky", I probably wouldn't have jumped in headfirst back then โ
But now I can rely on trading cryptocurrencies to supplement my household expenses, and even occasionally make some extra money, all thanks to the countless lessons learned from falling down multiple times.
In the first two years, I chased a certain leading coin and lost half a year's salary in just one day; I also tried holding onto a stagnant coin and waiting, only to miss several opportunities for it to double... So the words I share today are not some theories from big shots; they are all lessons learned from my own hard-earned money. If you want to stay in the cryptocurrency market for the long term, or even rely on it to support your family, I suggest you take note of each point.
Don't panic when strong coins correct. As long as it's a leading coin in the sector, if it drops for 8 or 9 consecutive days, it often represents a good buying opportunity. Don't be scared off by short-term declines.
Remember to take profits after two consecutive days of gains. Regardless of the coin, if it has risen for two consecutive days, it's time to reduce your position and secure your profits. Don't keep fantasizing that it will continue to rise; greed can easily lead to losses.
Don't rush to sell after a daily increase of over 7%. After a big rise on the same day, there is a high probability that there will be further upward space the next day. Observe for one day first, and don't leave too early and miss out on profits.
Wait for corrections to buy big coins. When you encounter a strong coin with good momentum, don't blindly chase the price. Wait until it finishes correcting; that's the real "golden opportunity".
Change coins when they have been stagnant for too long. If a coin has been inactive for three consecutive days, you might as well give it three more days for observation. If there are still no signs of a breakout, decisively switch coins; don't waste time.
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