Please listen to my advice. Remember the following ten tips, and if you don't succeed, come to me!
My friends who have been trading cryptocurrencies for many years but have not made a million dollars,
1. Don't mess around when you have little money! It's enough to seize one opportunity for significant growth annually. Don't invest all your money. Keep some cash to protect yourself so you can cover your position in case of a decline.
2. The more knowledge you have, the more profits you will gain! Don't touch coins you don't understand. It's okay to practice on a demo account, but your mindset is completely different when buying real money. Learn them first and then take action.
3. Don't be greedy for good news! If you don't sell it on the same day, sell quickly if the stock opens high the next day. Everyone is waiting for good news to sell, and a high opening is an opportunity to escape. If you delay, you might lose money.
4. Reduce your holdings one week before holidays! During holidays, no one trades in the market, and prices are prone to extreme rises or falls. Don't take risks. It's better to spend the holiday in peace.
5. For medium and long-term operations, remember "buy low and sell high"! Buy in batches when the price drops, and sell in batches when the price rises. This way, you can lower costs, have flexible cash on hand, and not worry about market fluctuations.
6. Only choose popular coins for short-term trading! Don't touch coins with small daily trading volumes. If no one takes charge, you will fall into a trap as soon as you buy. Follow products with large capital flows. Only with good liquidity can you make money.
7. Remember this rule: coins that decline slowly are likely to rise slowly later; but if they drop suddenly, they will rise quickly. You can seize this opportunity, but don't be greedy.
8. Be decisive when stopping losses! If you buy the wrong stock, don't hold onto it. Admit your mistake and sell at a loss in time. Only by protecting your capital can you get a chance to turn things around. If you just wait to escape the trap, you may fall into deeper trouble.
9. For the short-term chart, look at the K line chart for 15 minutes! Focus on the KDJ indicator. Sell when it reaches the peak (overbought) and buy when it drops to the bottom (oversold). Combine it with MACD and RSI for additional judgment. Don't just look at one indicator.
10. Don't learn too many skills! It is enough to master one or three indicators, such as KDJ and MACD. Learning too many indicators will only confuse you. It is better to study one indicator carefully than anything else$XRP
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It's that simple, the essence is just two words: "Self-Control" - curb greed, curb repetitive operations, protect principles, and seize big opportunities; it is more practical than anything else.