After years of trading in the cryptocurrency industry, I have experienced many ups and downs. I know that this is a field where opportunities and risks coexist.
Master the basic knowledge: Have an in-depth understanding of blockchain technology, digital currency characteristics, wallet and trading platform operations, etc. This is the basis for understanding the cryptocurrency industry.
Only invest 20%-30% of idle funds, and diversify investments in multiple digital currencies to reduce the risk of fluctuations in a single currency.
·Stop loss and stop profit: Stop loss to prevent losses from expanding, such as stop loss when the price drops by 10%, stop profit to lock in profits, and stop profit when the price rises by about 20%, depending on the market and personal preferences.
Stay calm: The price of the cryptocurrency industry fluctuates violently, so avoid being swayed by the rise and fall. Don't chase high when the price rises, don't panic sell when the price falls, and calmly analyze the reasons.
Prevent traps: Insufficient supervision in the cryptocurrency industry, be wary of market manipulation. Don't believe in "insider information", study the white paper, team and technology of new projects, and avoid air coins and pyramid scheme coins.
Focus on dynamics: Policies, technological innovations, etc. affect the cryptocurrency industry. Pay attention to industry news every day, grasp trends, and make arrangements or hedge risks in advance.
Cryptocurrency trading requires continuous learning and accumulation, strict risk control, cautious progress, and finding opportunities
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