As a novice, rushing into the cryptocurrency market, chasing highs and cutting losses, the result is relying on courage and luck, ultimately losing the principal.
So how can one achieve stable returns in the cryptocurrency market?
First, after reaching a profit peak, appropriately take a break from trading, learn to temporarily leave the market, because there are trading days for 365 days a year; don’t push yourself too hard.
Second, if there are three consecutive days of losses, immediately stop trading, reflect deeply on the source of the losses, to prevent falling into the same trap again.
Third, it is not advisable to trade when there is significant market divergence; during this time, market fluctuations are large, making it easy to incur losses.
Fourth, if the cryptocurrency price opens more than five points higher, it should be treated with caution; this may be a trap, don’t rush to jump in.
Fifth, when the cryptocurrency price is at a high volume, it is not advisable to chase the price up; this is likely a bait, don’t become the one left holding the bag.
Sixth, buy low when the market is weak, and buy in when it is strong, flexibly respond to market changes.
Seventh, if you don't have full confidence, don’t blindly increase your position; building a position in batches is the prudent way.
Eighth, only act within familiar operating modes, earn profits within your cognitive range, don’t be greedy and attempt to swallow an elephant with a snake.
Ninth, avoid left-side trading; don’t enter the market too early, wait for the best timing to act.
Tenth, do not participate in a downward trend; follow the market trend, and avoid going against the trend.
Today, in a conversation with fans, it was noted that most people in the cryptocurrency market are still incurring losses overall, many of whom initially were in a profitable state.
Many people like to hold positions every day, unable to control their hands; this may be the biggest reason for your losses. Additionally, some people have already incurred losses, and there are many who are trading cryptocurrencies while borrowing money; in fact, at this point, it has completely affected their mindset, and losses will only increase.
If you are also in this state, you can communicate and learn with other fans.