After 10 years of cryptocurrency trading, from 100,000 to 10 million, I have summarized 8 practical principles.
1. Don’t fall in love with hot coins. When the profit of the altcoins reaches a certain level, you should change them. If you want to eat from beginning to end, it will be a waste of time. The reason is simple. The altcoins cannot rise forever. You should change them after you have speculated too much, otherwise they will fall back to the starting point and you will be busy in vain, such as FIL LUNA
2. When the high position is sideways and then rises, seize the opportunity to sell; when the low position is sideways and reaches a new low, there is a high probability of a good opportunity. When the coin price hits a new high after sideways at a high level, be alert to the main force to lure more, and don’t hesitate when you should reduce your position or leave the market; and when the coin price hits a new low after sideways at a low level, and it is quickly recovered, it is likely that it is the last wash of the main force, and you should be firm in your heart and not waver.
3. When the market environment is not good, the coin price will rise against the trend, and a small rise against the trend will rise sharply. When the market environment is good, the coin price will fall slightly against the trend, and a small fall against the trend will fall sharply.
4. Only increase the position when making money, and do not spread the loss evenly. This may break the cognition of many old friends. Our position should be increased when the currency price breaks through the previous high, rather than covering the position when it keeps falling. In this way, the more you cover, the more you lose, and finally you can't move. You must cut off the loss and let the profit run.
5. As long as you identify the bottom price, it will generally rise by two steps forward and one step back. Don't doubt it at this time. Generally, there will be a big surprise behind it, especially when the trend is rising, it will be pulled up and washed at the same time. Don't get off the bus easily
6. First-class players look at the sector first, second-class players only look at single coins, third-class players look at indicators, and the last-class players only gamble. This means that when we want to buy a certain coin, we must first look at the sector. Only when we do hot sectors, the popularity will be high and the winning rate will be high. Secondly, look at the token. Those who only look at the indicators are novices, and those who look at everything are gamblers
7. The indicator changes with the volume and price, so the volume and price are the root of the indicator. If you don't look at the volume and price, you will frown when speculating in coins. The batches are calculated based on the price and trading volume, so the real technical analysis needs to look at the volume and price, and the price increase requires a lot of capital to push it.
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