After 6 years of trading cryptocurrencies, I've summarized it into 16 sentences to share with everyone. Forward this to your friends who trade cryptocurrencies; it will definitely benefit them for life!
1. Buy altcoins in a bull market, buy BTC in a bear market.
2. Pay special attention to coins that show increased volume at the bottom; this is often a signal to start.
3. When a coin in an upward trend retraces to important moving averages, it is a buying opportunity.
4. Do not trade frequently; making a few correct large trades a year is enough.
5. Manage your position well; never go all in, always leave yourself some room.
6. Do not average down on losing junk coins; cutting losses in time is the wise choice.
7. News can only serve as a reference; do not go all in based on news.
8. Do not touch unfamiliar coins; focus on the sectors you know well.
9. Do not be swayed by market emotions; maintain calmness and rationality.
10. If altcoins have risen too much, they will definitely fall; if they have fallen too much, they may not necessarily rise; selection is very important.
11. When most people are optimistic, it is often when risks arise.
12. Learn to stay out of the market; wait for clear signals before entering.
13. Do not follow the hype; trends often come quickly and leave just as fast.
14. Have your own trading system and execute it strictly.
15. Investing is a long-distance race; maintaining a good mindset is essential to winning in the end.
16. Investing does not guarantee profits; there is a high probability of losing money, so try to invest with spare cash. Investing with spare cash will lead to a better mindset, which will increase your chances of winning.
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