Nine Major Survival Guides in the Crypto World, Your Directional Sign
1. First, adjust your mindset. Treat trading cryptocurrencies as a game; winning or losing doesn't matter. Only then can you trade cryptocurrencies easily.
2. Use spare money for trading. The funds used for trading cryptocurrencies must be spare money that won’t affect your life if lost. Using spare money allows you to take risks and let go easily.
3. Seize the time to learn. If you want to trade well, quickly understand practical technical indicators and strategies, engage in more practice, and summarize your experiences.
4. Be cautious in your first trade. Retail investors generally have limited funds, so it is crucial to focus on effectiveness. Especially for your first trade, meticulous preparation is necessary to strive for a successful debut. Before operating, make use of simulation systems for practice, and only take action after gaining sufficient experience. Otherwise, entering the market could result in trapped funds or losses, which can significantly damage your confidence.
5. Protect your principal. Trading with your earnings will make you feel more relaxed and allow for more flexible operations.
6. Develop your own set of methods. To transform from a retail investor to a savvy trader, avoid chasing highs and the mentality of going all in. Always remember that as long as you don’t chase high prices, you can become a savvy trader. Be good at learning and summarize a set of operational skills that suit you through practical trading; this is the foundation for becoming a savvy trader.
7. Only trade strong leading coins and concentrate your funds. When trading cryptocurrencies, focus on the leading coins. Diversifying funds not only increases trading costs but also leads to missing out on opportunities, making it difficult to accurately analyze and grasp the characteristics of each coin's market.
8. Acknowledge mistakes in buying. Cut losses in time to protect your principal; this is fundamental for survival in the market.
9. Always look at the 15-minute K-line chart for short-term trades. Based on the KDJ indicator, you can find better buy and sell points.
