1. Don’t let unrealized gains turn into losses. Once you have more than three points of unrealized gains, set a protective stop-loss near the opening price, never lose your principal. In the crypto market, it’s easy to rise more than three points, especially in small altcoins. At this time, you can slightly enlarge your take-profit point and adopt a trailing stop-loss approach, especially in a bull market. Frequent taking of profits is a must to protect your gains from being taken away. Normally, people can’t stand going from a state of unrealized gains, initially happy and already thinking about what to do with the profits, to suddenly turning those gains into losses. It feels like going from heaven to hell. Those without strong mental resilience cannot bear it; emotions can easily be influenced, affecting your decision-making ability and leading to foolish decisions. By the time you come to your senses, you’ll find your account balance has mostly come to its senses too, and it’s too late for regrets.
2. Don’t make small profits and big losses! It's like playing poker; today I played and won 500 bucks with a hundred or two hundred chips, I was satisfied and retreated. The next day, I won another 500 and retreated again, feeling happy. But by the third day, it wasn't so smooth; I played and lost 500. Unwilling to accept it, I continued to gamble, wanting to recover, so I bet 500, but made a mistake and lost 1000. All the profits from the previous two days were gone, and still unwilling, I kept gambling with 500 and 1000 chips at random, ending up losing a lot. This is a typical case of winning a little and losing a lot. 2. Embrace the trend, go with the flow; the buying price is not better when lower, but when it's more suitable. You won't gain an advantage just because the buying price is cheap, as falling prices do not signal a bottom. Abandon junk coins; trend is king.
3. In fact, in the speculative market, being adaptable is the most wrong approach. Use your fixed trading system + the unchanging trading system to deal with change. It’s not that you can’t use ten thousand methods, but you shouldn’t use one method repeatedly ten thousand times. Staying still is the best defense; often, the times you are most reluctant to let go are when you make the most mistakes. Understand this clearly!
4. Patience is the foundation of making money. You may need to learn for a long time and be deceived countless times to understand the situation in the crypto world. No worries, cherish every experience of being deceived; these are lessons to be learned on the investment journey.
5. When the price enters a stable upward channel, every pullback is a temporary stop, a good opportunity for us to get on board. There are no coins that keep rising; a pullback is like a compressed spring, preparing to jump higher. 6. Artificially judged bottoms are basically never the bottom but rather halfway up the mountain. The formation of a true bottom depends on emotions and funds, so never blindly buy the bottom; often, 9 out of 10 times you will get caught.
7. When holding a position in profit, close the position once you reach your psychological point, don't aim to take it all. Also, pay attention to the control of position and leverage; you must learn to strictly control your position based on the leverage of the products you are dealing with and your own funds.
8. Use moving averages: Short-term operations generally refer to the five-day, ten-day, and twenty-day moving averages. When the five-day moving average crosses above the ten-day and twenty-day moving averages, and the ten-day moving average crosses above the twenty-day moving average, this is called a golden cross, which is a buying opportunity. Conversely, it's called a death cross, which is a selling opportunity.
9. If your mindset in trading is not good, even if you have millions, you can lose it all. Trading is all about mindset, and trading in circles is a psychological game, a contest of intelligence among millions of people, a fierce psychological battle.
10. Finally, of course, learn more about investment knowledge in the market, enrich yourself, summarize every day. As the saying goes, practice is the only criterion for testing truth. Only through a lot of real trading can you truly enter the world of cryptocurrency trading.
If you are blindly guessing trends in the market alone, but always end up going against the trend!
If you lack support from technical and news aspects, just look at the drop list and heat list to make trades!
Then it definitely won't last long. Follow me, screen 55. One or two trades a day, take the profit when it's good.
Impermanence brings!!! Those with strong execution come!
