My years of experience in cryptocurrency trading tells me that if you haven’t yet broken through 1 million in wealth, try the following ten suggestions. If the results are not obvious, feel free to come to me!
1. Plan your funds rationally and avoid full positions
Even if you have limited funds, you should be careful with your spending. Seize important opportunities in the market, don't blindly fill your position, and keep some cash for emergencies.
2. Cognition determines profit, keep learning
It's difficult to profit from a field you don't understand. While simulated trading is suitable for practice, the psychological pressure of actual trading is different, so be sure to be mentally prepared in advance.
3. Exit decisively after good news
If you don't sell in time when the market is favorable, it is recommended to exit when the market opens higher the next day. After all the good news is released, there will usually be selling pressure, causing prices to fall.
4. Reduce your holdings during holidays to protect yourself
When holidays are approaching, reduce your positions or choose to liquidate them a week in advance to avoid drastic fluctuations caused by decreased market activity.
5. Medium- to long-term investment, flexible adjustment of strategy
When investing in the medium to long term, ensure you have sufficient funds available. Sell when prices are rising and buy when prices are falling, making flexible adjustments to reduce your holding costs.
6. Choose a currency with good liquidity
When operating in the short term, choose currencies with active trading. Currencies with poor liquidity are prone to being trapped and missing out on selling opportunities.
7. Understand market trends and follow them
Currencies that fall slowly tend to recover more gradually; currencies that fall sharply tend to rebound faster. Mastering the market rhythm can help you make accurate judgments.
8. Stop loss decisively
If you discover you made a mistake, stop your losses immediately. Don't be tempted to wait for a price rebound. Preserving your principal is your top priority.
9. For short-term trading, focus on the 15-minute candlestick chart
When trading in the short term, pay more attention to the 15-minute K-line chart and use technical indicators such as KDJ to determine buying and selling points. Especially when KDJ shows overbought or oversold signals, you need to refer to other indicators such as MACD and RSI.
10. Simplify technical analysis and master just a few techniques
You don't have to learn all the technical indicators. Just master a few practical and effective methods to deal with various market situations.
Today's Focus: POND BIO LINK EPIC ARB
