10 Rules for Survival in the Cryptocurrency Circle (Must-Read for Newbies)
1. Don’t be easily cheated of low-priced chips, be firm in your faith, and prevent the dealer from knocking and smashing the market
2. Chasing up and killing down, entering and exiting with full positions are always taboos. The general trend is favorable. Building positions in batches when the market falls has lower risks, lower costs, and greater profits than chasing up
3. Reasonably distribute profits and maximize the release of funds, rather than constantly adding positions;
4. If the market rises sharply, sell the capital, and if the market falls sharply, keep the currency. At any time, you must have a positive mentality, do not speculate, do not be impetuous, do not be greedy, do not be afraid, and do not fight unprepared battles
5. Ambush or The private placement of low-priced coins is to bet on the future of this coin by experience and the dealer. The subsequent secondary market game is a process of following the dealer by relying on technical aspects and news. Don't put the cart before the horse and end up in a mess.
6. When building a position and shipping, it must be divided into layers and segments, and the price gradually opens up the segments to effectively control the ratio of risk and profit.
7. Be familiar with the linkage effect. When buying coins, look at the market. At the same time, pay attention to the trends of other coins. Each coin is not isolated in the market transaction. It seems that there is no connection. In fact, it is intricate. The linkage effect requires understanding of the coin and making full use of the consulting tool APP.
8. Reasonable warehouse allocation, the configuration of hot coins and value coins should be reasonable. Pay attention to the ratio of stress resistance and profit intake. Being too conservative will miss opportunities, and being too aggressive may face high risks! The biggest feature of value coins is stability, while the biggest feature of hot coins is volatility. They may rise to the sky or return to zero in one battle.
9. Having coins on the board, money in the account, and cash in the pocket is the safest and most secure standard. You cannot go all-in. If you go all-in, you will die. The grasp of risk control and the reasonable allocation of funds are the key to your mentality and success or failure. Investing with idle money is the foundation.
10. Master the basic operations, learn to draw inferences from one example, master the basic ideas of trading, observation is the premise, remember the highs and lows of each time as reference data, learn to record, learn to summarize materials by yourself, develop the habit of reading, and cultivate the ability to screen and filter information.