1. Only participate in the irreversible upward trend of the market
"Only participate in the irreversible upward trend of the market." The market is the fact, the market cannot be questioned or challenged, and the trend is irreversible. As an investor, you must dare to admit your mistakes, correct them at any time, reject uncertain market conditions, and do what the market makers must follow. You must know how to follow the trend.
2. Refuse to trade frequently
The casino is open 24 hours a day, so there is no need to open orders frequently. There are a lot of logic involved here, such as timing, trial and error, and position control. What we advocate is waiting for the perfect opportunity like a hunter, rather than investing recklessly as soon as you see the prey.
Third, do not blindly trust technical indicators.
First, we must acknowledge that any technical indicator has its lag.
For example, when the MACD indicator issues a golden cross buy signal, in fact, the coin has already risen significantly. At the moment of the golden cross, you may very likely be the one picking up the pieces!
Fourth, forget about the cost price once you buy.
When you go short or long, the cost price has no relation to any subsequent operations, because whether to sell depends on market trends, and it has nothing to do with whether you are still making a profit. If the pattern is good, continue to hold; if the pattern is bad, reduce your position or even close your position.
Fifth, participate with money you can afford to lose.
Use spare money to trade cryptocurrencies. All investments carry risks. Investors can increase their investment after mastering the tricks of profitable trading. Before that, it is essential to participate with money you can afford to lose; borrowing money often leads to significant losses!
Sixth, withdraw profits on time.
Without withdrawing, everything is just a number. Investors in the cryptocurrency world are like gamblers who haven't left the casino. Even if they temporarily earn a lot of money, they still can't be considered winners.
You can only say that you laughed last when you extract cash from the market. In the cryptocurrency world, withdrawing profits on time is a good habit.