Trading cryptocurrencies for seven years to support my family! I started with an initial investment of 50,000 yuan, and now I can basically support my family through this field.
During this process, I have accumulated some personal insights that I would like to share with everyone.
First of all, I believe that the timing of selling is not about how long you have held the asset, but whether you can accurately gauge the market. It doesn't matter if you have held a coin for a day or a year; as long as the market price reaches its peak, you need to consider selling.
Secondly, when the price of coins is rising, retail investors like us are particularly prone to greed, always thinking the price can go even higher. However, this mindset often leads to missing the best selling opportunities. In fact, taking profit when it's good is more reliable and practical than trying to sell at the highest point; it's better to secure profits than to risk losing them.
Third, understanding when to stop is very important. When you see your gains increasing, you need to have the patience to wait for the right opportunity to cash in. This tests our judgment and our ability to stick to our principles in the face of temptation.
Fourth, when the people around you are passionately discussing blockchain technology and various investment opportunities, this may be a signal that the market is nearing its peak. At this time, you should consider selling some coins or even exiting entirely; don't become the last person holding the bag. Because we ordinary investors, lacking a powerful information network, need to be cautious of traps when we receive favorable news!
Finally, those who have experienced a bull market often feel regret for not buying more when prices were low. However, skilled traders will take advantage of the collective mindset of chasing prices and sell their coins when the prices are high. Therefore, we must manage our emotions and not let the market's frenzy cloud our judgment, leading to irrational decisions.
The cryptocurrency market is highly volatile, with many opportunities and also significant risks. By learning more and summarizing experiences, we can better grasp when to invest and reduce unnecessary losses. I hope every investor in this market can find a way to make money that suits them.
TRUMP/PEPE/ADA
