I haven't updated for many days recently. I had a lot of offline chats with an old rookie in the circle. I haven't slept much recently and I feel sleepy all over.
background:
This newbie, let's call him Ahong for the time being, entered the cryptocurrency circle at the end of last year. He had more than 10,000 U when he entered the circle. He lost 1,400 U on the first day (why 1,400 U? Because the exchange limits the maximum loss for novices). After that, he used a leverage of 20 times to fully invest, and luckily he reached 30,000 U by trading all the way before Grayscale's selling in January.
After that, I chose to open long at 2500 and encountered Grayscale selling and fell all the way to around 2200, and my position was liquidated. Not long after, in February, I recharged 10,000u again to enter the cryptocurrency circle. This time, when the price doubled to 20,000u, I shorted at 2500 points and encountered the crazy Spring Festival bull market, and my position was liquidated again. A total of 50,000U was liquidated, and I have not recovered until today.
From the beginning of trading to today, I have been placing orders based entirely on my feelings and large positions following other people's orders. In fact, I have found that this is something that 90% of the newbies who enter the cryptocurrency circle to play contracts will encounter. They lose money by placing orders based entirely on their feelings, and then enter the drowning stage and blindly try to grab a life-saving straw.
The correct approach to entering the circle should be to learn first and then trade
After a few days of conversation, Ahong has decided to learn first and then trade. This post is written specifically for him. It will record his learning process in the future, and will also update his learning notes and trading records from time to time to record his growth.
Learning route preview:
First period, learn basic K-line knowledge and K-line patterns. If necessary, watch (Japanese candlestick chart) (naked K trading method)
The first step in learning is to teach novices to recognize K-line and some of its basic structures.
This content will be updated long term to record Xiaobai's growth
I am a know-it-all in the cryptocurrency world, and I hope to grow with you.