The iron rules of cryptocurrency trading are very practical:

1. Don't blindly follow the trend

Many novices rush into the market when they see others making profits in cryptocurrency trading, which is very dangerous. Before entering the field of cryptocurrency trading, you must first understand the basic concepts, market rules and other basic knowledge, such as the significance of blockchain technology for different cryptocurrencies.

2. Avoid chasing ups and downs

The price of the cryptocurrency circle fluctuates frequently. If you blindly follow the buying and selling behavior of others, you are likely to buy at high prices (chasing up) and sell at low prices (chasing down). You must have your own judgment and wait for the right time, such as analyzing technical indicators of price trends.

3. Diversify your investment

Like the classic theory in investment, diversification can reduce risks. Different cryptocurrencies have different characteristics, risks and profit potential. For example, Bitcoin is relatively stable, while some small-cap altcoins may fluctuate greatly.

4. Set a stop loss bottom line

It is crucial to clarify the maximum loss you can bear. For example, set a loss of 20% to stop investing, so as to protect the principal. Once the stop loss point is reached, it must be implemented resolutely to avoid further losses.

5. Strengthen learning

The knowledge of the cryptocurrency circle is rich and complex. You should learn from formal channels and understand the white papers, teams behind various cryptocurrencies. The analysis and experience of professionals can also provide a lot of help.

6. Overcome greed

After making money, take out part of the profit in time, for example, take out a part after making a profit of 30%. If you keep greedily pursuing higher returns, you may miss the best time to sell.

7. Don't be swayed by emotions

When the market fluctuates, stay calm. For example, when the price of cryptocurrencies plummeted in 2017-2018, many people sold at low prices because of panic.

8. Patient investment

Coin speculation is not a way to get rich overnight, it takes time to accumulate wealth. Long-term and stable investment strategies are often more reliable than short-term speculation. $BTC #美国二季度核心PCE符合预期