Three Iron Rules for Trading Cryptocurrencies: Secrets to a Healthy Wallet
1. Don't chase the market, calmly pick up bargains
When the market is euphoric, chasing prices is like jumping into a fire pit. Remember: "Be calm when others are greedy, act when others are fearful." During a downturn, focus on quality coins and position yourself at low prices; that's the way to go.
2. Don't go all in, diversify your investments
Putting all your funds into one coin is no different from gambling. Diversifying your investments can effectively reduce risks and avoid the predicament of losing everything with one wrong move.
3. Don't use all your funds, keep some bullets
Market fluctuations are unpredictable; leaving some room allows you to respond to sudden opportunities or risks. Flexible position management helps you navigate through challenges.
Short-term Trading Tips
• Set profit and loss limits: Plan ahead the range for profits and losses, and stick to it strictly to avoid emotional trading.
• Follow market trends: Pay attention to currently popular sectors like DeFi, NFTs, etc., but don't blindly follow the crowd.
• Be patient: Waiting for the best timing is crucial, overtrading will only increase losses.
Keep these three iron rules in mind for a more stable and worry-free trading experience!
If you like contracts, enjoy analyzing charts and studying technology, click on my profile. I will share my years of experience and tips in the crypto world for free. I'm here in the community, always online, welcome to discuss and improve together.