The 80/20 rule applies to every industry. When we invest in the currency circle, whether we can get the results we want depends on whether we are in the 20% circle.
This is particularly important. Do you have the underlying logic to make money yourself? Can these abilities be replicated? It can help us achieve long-term, sustained and stable profits when trading in the currency circle.
Start carefully and end well. Before you start trading, do you have a detailed and thorough understanding of the fundamentals of the selected currency, its specific application and value in the blockchain industry, development route planning, project team behind it, funds, etc. wait.
After completing this step, we can then use the market to identify when the trend is at a relative bottom, and formulate a trading strategy. Are we going to be long-term, mid-term, or short-term? How to manage our positions and how to allocate funds? One-time stud. Currency, or even positions are distributed among N currencies.
After entering the market, if the market does not move according to your expectations, are there any effective strategies to avoid it, etc.
And how to escape from the top and gradually stop profits in the later period.
During the entire execution process, our mentality will not be disturbed and tempted by short-term fluctuations in the market.
If the currency you own has not risen, and you see other people's currencies rising sharply, if you can control yourself and not adjust positions, and if you can be sure of the chips in your hand, you will definitely get good results in the bull market.
