Don't want to be a harvested leek? You must remember these points!
Don't think about getting rich overnight.
Although there are many opportunities in the cryptocurrency world, stories of getting rich quickly are few and far between. Avoid having a lucky mindset; being steady and grounded is the way to go.
Try small trades multiple times.
For friends just entering the market, don't bet too much at once. Small and frequent trades to accumulate experience is the right way to make big money.
Even if you earn 20,000 a month, stay cautious.
Being able to earn a stable 20,000 is indeed good, but the market changes rapidly; never let your guard down because of it. Stay calm and operate cautiously.
When trading contracts, always set a stop-loss!
Contract trading is high risk; if you don't set a stop-loss, be prepared to be severely punished by the market. Remember, set a good stop-loss and don't let the market swallow your principal.
Have patience when buying coins; making quick money in the short term is difficult.
Coins purchased on exchanges need time to settle. If you are thinking about short-term profits, you might very well end up in a loss trap.
Profits in the crypto world are often built on the losses of others.
There are always people making money in the market, and there are always people losing. The money you earn might be what others have lost. Therefore, steady operation is the key to profit.
Using spare money to play with coins gives you an advantage over most players.
If your funding source is spare money, you are already at an advantage over 90% of players. You can face market fluctuations more calmly and avoid excessive anxiety.
Don't touch coins that have dropped by dozens of times.
There are always some coins in the market that have astonishing drops, seemingly cheap, but actually worthless. Better to miss out than to blindly follow the trend.
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