Six key points to earn U by trading coins, have you heard of them? Practical sharing!
An old hand in the coin circle once said that if retail investors master these six points, turning a capital of 100,000 into 5 million is not a dream. What are the six points?
First point, you must know how to set stop-loss and take-profit.
When we trade coins, the goal is to make money, not to pass down as family heirlooms. Being greedy when making profits and unwilling to cut losses when losing is not acceptable. If the position trend is not right, you must act immediately.
Second point, don’t always think about bottom-fishing and top-selling.
There are no absolute lows and highs in the market; we ordinary people can't play that game. What we can do is buy and sell in the bottom and top areas, making steady profits.
Third point, volume and price must cooperate harmoniously.
Those positions that rise without volume and set new highs also without volume should be treated with caution. They are likely false signals of price increase where the main force is unloading, so don't chase; it's better to miss out than to make a mistake.
Fourth point, reactions must be quick.
As soon as there’s any movement, you need to quickly identify the favorable sectors and companies. If you can't catch the first-tier, don't miss the second-tier; you can still reap good benefits.
Fifth point, you must learn to rest.
As the saying goes, it takes three months to see the bottom and three days to see the top. When the coin price rises, the main upward wave is just a small segment, so seize the opportunity. At other times, just rest well and recharge.
Sixth point, a sharp decline is a big opportunity.
After a sharp decline, there are often greater opportunities hidden. When others are greedy, you need to be vigilant; when others are afraid, you need to be brave. During market crashes, don’t be afraid; pick some good positions and build your positions boldly.
These six points sound simple, but it’s not easy to truly implement them. Why? Because the weaknesses of human nature are too difficult to overcome. If you can't get over this hurdle, then the dream of 5 million will be hard to realize.
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