The most important point in trading cryptocurrencies is capital management; don't invest all your money at once. I habitually divide my funds into five parts, using only one part for each operation. This way, even if I lose, I won't be overwhelmed.
Moreover, I have set a rule for myself: withdraw immediately if I lose 10%, regardless of the market conditions. If I lose 10% five times in a row, I have only lost 50%, but if I earn, the profits will be much more. Even if I get stuck in a position, I can maintain my mindset.
Going with the market trend is always the most reliable strategy. When the market is falling, don't think about bottom fishing; that's simply unrealistic. During an uptrend, a pullback is the golden opportunity; buying low is much safer than trying to catch the bottom.
When it comes to selecting coins, you need to have a sharp eye. Those coins that surge dramatically, whether mainstream coins or altcoins, should be avoided as much as possible. Coins that rise too quickly will also have significant pullbacks afterwards, making them easier to get stuck in. In terms of technical indicators, I use MACD++ the most. The DIF line+ and DEA line+ crossing below the O axis and breaking through the zero axis is a buy signal.
On the contrary, if they cross below the zero axis, then it's time to reduce your position.
Never try to average down lightly! If you lose, don't average down; the more you average down, the more you lose, and in the end, you might end up with nothing. Remember, cut losses when you're losing, and only add to your position when you're in profit.
Trading volume is also very crucial. When the price of a coin breaks out at a low level, if the trading volume increases, it is usually a great opportunity.
The most critical point is to go with the trend and seize the opportunity! Combine the daily line, 30-day line, 84-day line, and 120-day line; when one of those lines starts to turn upward, you'll know how to act.
Investing is just like any other industry; you need to accumulate a certain amount of knowledge and experience. You need to keep striving and some diligence. Achieving top-tier status in any industry is quite difficult; often, it requires some talent and a bit of luck.
However, investing is different from other industries; even if you work hard, even if you are diligent, and even if you have accumulated enough experience and knowledge, you can still fail miserably in the contract market. In most industries, you don't need to be at the top to make a decent living and have a stable income, but investing is not like that. If you can't reach the top, you won't be able to eat.
The contract market is a risky market, a place where smart people gather, specifically to eliminate all the self-righteous so-called smart people.
Strictly speaking, this industry is not one where you are guaranteed returns for your efforts. This is something many newcomers to the crypto space do not realize before entering. Although everyone comes to the contract market with the mindset of making money, the harsh reality is different. In the contract market, losing money is the norm. There are people smarter than you, more hardworking than you, and more talented than you who are also losing money.
Pierce through the fog of information to discover the real market. Grasp more opportunities for wealth creation; find truly valuable opportunities and don't miss out and regret it! The road of cryptocurrency is long and slow. If you're also on this journey, you need to leverage resources to learn methods and techniques. Comment '1' for free guidance!
