Don't be greedy when speculating in cryptocurrencies. Remember these tips to ensure that you can handle the cryptocurrencies with ease:
First: The purpose of covering a position is not to make a lot of money, but to reduce losses. If you are trapped, don't think about making money back by rebounding, that's asking for trouble. The purpose of covering a position is to reduce losses, don't be confused by temporary entrapment.
Second: Calm markets often hide big fluctuations, don't be confused by short-term stability. The market is fickle, and it may suddenly change one day. Remember, there must be a callback after a big rise. Be vigilant when the K-line draws a triangle. If it rises too much, it will definitely callback. Be careful not to be trapped at a high position.
Third: The timing of buying and selling is critical. Remember: buy on the Yin line and sell on the Yang line. You have to buy bravely when others are panicking, and you have to sell decisively when others are crazy. Experts all operate against the market. Don't sell unless it goes up, don't buy unless it dives, and never take action when it goes sideways. Pay attention to the resistance level in the rise and the support level in the fall, so as not to panic.
Article 4: Full warehouse is a taboo, flexibility is the key. The currency market is unpredictable, position management is the king, and flexible response can be at ease.
Article 5: Mentality is very important, greed and fear are the biggest enemies. Chasing the rise and selling the fall will only lose more. Keep a calm mind to gain a foothold in the market.
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