A mentor with 5 years of experience in the cryptocurrency world summarizes eight essential tips that beginners must learn to help themselves!
1. Skillfully use morning market trends: In the morning, the emotions in the cryptocurrency market are very pure. If the price drops sharply, don't panic; this may be a good opportunity to buy the dip. If the price is surging high in the morning, don't get greedy; take the opportunity to lock in profits.
2. Master afternoon strategies: If there is a sudden spike in the afternoon, don't get swept away by the excitement and follow the trend; most of the time, it's just a false rally, and buying at high prices may leave you stuck. Conversely, if there's a downturn in the afternoon, it's wise to remain calm, observe the situation, and look for a good entry point the next day, which often leads to profits.
3. Maintain a stable mindset during downtrends: If you wake up in the morning to see prices dropping, don't rush to sell at a loss; the market changes rapidly, and morning fluctuations can often mislead you. If the market is stagnant with no movements, don’t worry; take a break, conserve your energy, and wait for opportunities.
4. Strictly adhere to buy and sell rules: If the cryptocurrencies you hold haven't reached your expected highs, don't sell them off easily; making a small profit is still a loss. If prices haven't reached your psychological price point, keep your hands steady and avoid rash purchases to prevent buying in the middle of a downturn. During sideways trading phases, when trends are chaotic and direction is unclear, trading is undoubtedly like a blind man feeling an elephant; it's better to observe from the sidelines.
5. Operate based on candlesticks: Buy on bearish candles and sell on bullish candles; this is a classic strategy. A bearish candle indicates a price correction and a good buying opportunity; a bullish candle signifies a short-term upward trend, and selling at a high to secure profits is wise.
6. Use contrarian thinking to break through: To stand out in the cryptocurrency world, sometimes you have to go against the grain. When everyone is fervently buying, keep your cool; when panic selling ensues, be bold and dare to act contrarily to find niche opportunities for wealth outside the mainstream trends.
7. Endure the pain of consolidation: When prices are consolidating at high or low levels for an extended period, it can be torturous. During this time, don't let anxiety drive you to act impulsively; maintain your patience and calmness, and wait for the trend to clarify whether it will go up or down before making a decisive move.
8. Seize the tail end of a rally: After a prolonged period of consolidation at high levels, once there is a renewed surge, don't hesitate; this is likely the final frenzy. Sell promptly to secure your profits firmly in hand.