A guide for newbies in the cryptocurrency circle: avoid traps and move forward in a straight line!
Newbies in the cryptocurrency circle, do you want to avoid pitfalls and detours? Listen to my advice, remember these rules!
First, don't touch small currencies! Those small currencies are basically sharp weapons for cutting leeks. Once they fall, they will directly return to zero or fall by more than 99%, which will scare you to death. It is better to choose mainstream currencies, which are safe and secure.
Second, don't think about pie in the sky. The good days of ten-fold and hundred-fold returns in the cryptocurrency circle are over. Now that institutions and bigwigs have come, the bonuses are gone. If a novice can keep the principal without loss, he is already an expert among experts.
Third, you have to choose the right wallet. If you have a lot of funds, you still have to use a wallet to store them. The risk of the exchange is too high. But, you have to be careful with those small wallets, because they may run away one day.
Fourth, don't do ultra-short-term trading. The price of the cryptocurrency market goes up and down like a roller coaster. It is not uncommon for Bitcoin to fall by 20% in a day, and the price of altcoins is often cut in half. It is better to hold the coins in your hands firmly and don't always think about making quick money.
Article 5. Stop loss and stop profit must be set well. Set a rule for yourself. Stop loss decisively when the price drops to a certain level, and sell immediately when the price rises to a certain level. Don't be greedy. In the bull market, many people just don't know how to stop profit in time, and end up losing a lot of money.
Article 6. Don't go all in. The cryptocurrency market is risky, and even deposits and withdrawals are not safe. It is better to use your own spare money and small funds to test the water first, and don't invest all in it.
Article 7. Learning cannot stop. People can only make money within their own cognitive range. Even if you make money in the cryptocurrency market at the beginning, you will lose it quickly if you don't know enough, and even get into debt. So, you still have to keep learning and improve your cognitive level.
Remember these rules, and you can avoid many detours on the road to the cryptocurrency market!
For the next layout direction, I will lead everyone to aim at the profit opportunities of copycats, especially those projects with great potential. There is no problem with the expected space of more than 10 times. If you want to make a lot of money in the bull market, like + leave a message, and I will lead you to layout the entire bull market!
