In the cryptocurrency circle, I have summarized some practical experience, all of which are practical and worth learning from:
Small amount of funds, accurate capture: If the amount of funds is less than 200,000, you only need to accurately capture the main rising market once a year, avoid frequent full-position operations, and steady investment is the king.
Cognition determines income: Every penny you earn will not exceed your cognitive scope. Practice with a simulated account first to cultivate a real mentality and courage. The simulation can fail infinitely, but in real operations, a failure may lead to a complete loss, or even exit the market forever.
Good news is bad news: When encountering major good news, if you don’t sell it on the same day, you must sell it when it opens high the next day, because good news is often accompanied by bad news.
Reduce positions before holidays: One week before major holidays, you should gradually reduce or even clear your positions. The market often fluctuates greatly during holidays, and the risk of falling is higher.
Medium and long-term strategy: The core of medium and long-term investment is to maintain sufficient cash flow. Sell at the right time when it rises, buy on dips when it falls, and roll operations to better cope with market fluctuations.
Key points of short-term trading: Short-term trading needs to focus on trading volume and price n graphs, choose targets with large fluctuations and activeness to operate, and avoid mediocre targets.
Decline and rebound: When the decline is slow, the rebound will also be relatively slow; when the decline accelerates, the rebound will often be relatively rapid. Mastering this law will help to better grasp the rhythm of the market.
Stop loss in time: If you buy the wrong direction, you must decisively admit your mistakes and stop loss in time. Keeping the principal is the key to survival in currency speculation.
Short-term operation skills: When operating in the short term, you can refer to the 15-minute K-line chart and combine the KDJ indicator to find the right buying and selling points to increase the success rate of transactions.
Master a few skills: There are many techniques and methods for currency speculation, but you only need to master a few of them. Don't bite off more than you can chew. Mastering a few skills can often achieve better results.
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