A must-read for beginners! Keep these 10 trading rules in mind and avoid 99% of detours!

To gain a foothold in the cryptocurrency circle, beginners must first learn to avoid those old routines that "step on the pit". The following 10 principles may seem simple, but they are the experience of countless people who have learned from their lessons! Follow them and at least avoid 99% of detours.

1. Don't be greedy

Run away when you make a small profit, and never dream of catching every wave of the highest point. Stop when you see a good profit, which is the key to long-term survival.

2. Stay calm and don't be emotional

It's normal to rise and fall, don't be led by emotions. Only with a stable mentality can you make rational judgments.

3. Don't go all in

Investment never gambles your life. Only by building positions in batches and reasonably dispersing risks can you cope with market fluctuations.

4. Set stop loss and stop profit in time

Set stop loss and stop profit in a planned way, don't adjust easily before reaching the point, and don't gamble with hope for the future.

5. Stay away from blind buying based on rumors

It is extremely risky to enter the market based on rumors. Watch the market more, do more homework, and think independently.

6. Don't be scared by short-term fluctuations

The currency circle fluctuates greatly, and it is common to rise or fall by more than ten or twenty points overnight. Be mentally prepared and don't be easily "shocked out".

7. Remember, the banker is the eternal winner

The banker controls the market, and retail investors are hard to beat. Learn to see the main trend, don't follow the trend, and don't be confused by the superficial pull-up.

8. Have a plan for each transaction

Think about the buying and selling points before entering the market, and don't fight unprepared battles.

9. Do what you can, don't blindly increase your position

Don't blindly cover your position during losses to avoid getting deeper and deeper. Control your position and face losses rationally.

10. Keep learning and improving

The currency circle changes quickly. You must maintain a learning attitude, pay more attention to market information, and summarize experience to continue to grow.

Keep these 10 iron rules in mind to avoid pitfalls and mistakes, and strive to survive in the cryptocurrency world.