How do newcomers in the currency circle make money?
Seven tips are summarized:
1: Many people like to spread their money across many projects. Although this has low risks, the income is limited. You can try to choose some projects that you are most confident in and concentrate on investing funds, which makes it easier to achieve wealth growth.
2: Don't sell profitable tokens easily. When you see that one token has risen a lot and another token has not risen, don't rush to sell the profitable tokens. Let the profitable tokens continue to run, and you may gain more. Of course, we should also set reasonable sales targets to avoid missing the best time.
3: In a bull market, in a bull market that understands the importance of "hype", some projects may rise rapidly due to good narratives, strong communities or other positive factors. Instead of focusing only on fundamentals, it is better to learn more about these factors and see what makes retail investors willing to buy tokens.
4: The bear market focuses on fundamentals. When the bull market focuses on the bear market, the fundamentals, income-generating ability and market fit of the project are more important. But in a bull market, factors such as community spiritual leaders and social media hype will become more critical.
5: Review your portfolio regularly The world of cryptocurrency is changing rapidly, so check the projects you invest in regularly to learn about their latest progress. Look at the team's new actions, on-chain indicators, whether the community is active, and the next plan for the project.
6: If the fundamentals of the project have changed, or you think your judgment is wrong, stop losses in time to avoid expanding losses. At the same time, learn to accept your mistakes and learn from them.
7: For new projects and ideas, keep an open mind and be brave to try. Keep an open mind and develop an exit strategy.
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