The market has recently experienced a sharp correction, especially in the field of altcoins. Some of the currencies we were optimistic about have not been spared.
In this wave of correction, many friends seem to be a little shaken. Whenever the market plummets, panic will spread rapidly. Some investors are even anxious because of the 30% correction. Even small positions seem to be facing the end of the world.
I want to tell you, please stay calm and tenacious, and look further ahead.
We must see that many currencies in this bull market have huge long-term value. For example, aevo, when we entered the market, the price was between 2.6 and 2.8, and then quickly climbed to 3.94, which has touched our first stop profit position. In this case, at least part of the position should be exited and part of the profit should be locked in.
However, it is precisely because of such an increase that some friends may blindly chase high prices without fully understanding the risks, and end up taking over at high prices. Now that the market has pulled back, their mentality has begun to become unbalanced, and they have asked me whether they should cut their losses. My answer is that as long as you hold spot and your position is properly controlled, there is no need to worry too much for the time being.
In Daochang, I have always emphasized that long-term positions should be controlled within 70%, and for currencies like aevo, the holding position should not exceed 5%. Such a configuration ensures that the overall position profit will not be greatly affected in the event of a callback or flash crash.
However, some friends like to hold a heavy position, which is not wise from the perspective of long-term value investment. In fact, for currencies like aevo, the price below 3 is a good entry opportunity. As long as the upper resistance can be broken, the future upside will be huge.
As the market fell, some rumors began to spread. Some people asserted that this is a project for Chinese people to cut leeks just because the founder of the project has an Asian face. But in fact, this project has been invested by Binance and is basically a formal project, so everyone does not need to worry too much.
Here, I hope everyone can keep a normal mind. In the currency circle, such callbacks are a common phenomenon, and we should not lose our rationality because of this. If you find that you can't control your mentality, then after the market picks up, you may consider leaving the market temporarily.
Although Bitcoin is a relatively stable investment option, in the current market environment, we may only be able to choose to hold the currency in our hands. Remember, it is easy to cut meat on the floor, while the spot will never explode, and the dealer cannot cut your assets.
In the Taoist priest, the most important thing to learn is to control the position, rather than pursuing the wealth code of a certain skyrocketing coin. Short-term speculation is always accompanied by risks, and long-term position control strategy is the key to our foothold in the currency circle.
If you don’t know how to do it, invest in the hot spots of the dealer’s operation rather than chasing high, and don’t invest for fear of missing the crazy bull.
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