How to enter the cryptocurrency circle? Read this article, full of dry goods
1. Fund management:
If the funds are less than 100,000, it is recommended to concentrate on investing in a single currency; when the funds are 200,000-300,000, they can be dispersed to two currencies; when the funds reach 500,000, a maximum of 3-4 currencies can be held. Even if the fund scale is larger, the position should not exceed 5. Concentrate funds in a bull market, and reduce positions when the market is not good, so as to stop losses in time.
2. Information and technical analysis:
The core purpose of paying attention to news and learning technology is to improve the winning rate of transactions. Trend is the decisive factor: rebounds in a downward trend are often a lure to buy more, and declines in an upward trend are mostly digging pits. Avoid fantasy bottom-fishing, and don't try to guess the main intentions.
3. Operation timing:
Operate only when the market is active, and maintain flexibility to respond to market changes.
Stop loss and stop profit: Strictly implement fixed stop loss when losing money, and do not easily move down the stop loss point. Gradually increase the stop profit point when making a profit to prevent profit taking.
4. Buy and sell decisions: Be decisive when buying and firm when selling. Indecision often leads to missed opportunities.
5. Position increase strategy:
Before considering adding positions, ask yourself: If you don’t hold a position now, would you still buy? If the answer is yes, you can add positions.
6. Trading frequency:
Avoid indulging in intraday short-term trading. Frequent small fluctuations can easily disturb your mentality. Large profits depend on following the general trend.
7. Bottom-fishing risk:
Don’t blindly bottom-fish because of a large drop. Only 20% of people in the market can make a profit.
Through the above strategies, you can operate more steadily in the cryptocurrency market, reduce risks, and increase the probability of profit.
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