🚀🚀 Revealing the secret techniques of cryptocurrency experts, a must-read for beginners!
1️⃣ Cost Calculation, This is How You Do It
In the cryptocurrency space, cost calculation is not as simple as adding and subtracting money. For example, if you first spent 10,000 U to buy a coin at a unit price of 10 U, and then the coin price dropped to 5 U, and you invested another 10,000 U. At this point, your average cost is not simply (10+5)/2, but rather (10×10,000 + 5×10,000) / (10,000 + 10,000) = 6.67 U. This calculation helps you know your bottom line more accurately amidst market fluctuations, giving you more confidence in trading.
2️⃣ Compound Interest, Sounds Good, Hard to Do
Compound interest sounds like money will automatically make money. For instance, if you have 100,000 U and earn 1% daily, at the end of the year, you’d have 1,323,200 U, and if you persist for another year, you’d be a millionaire. However, the cryptocurrency market doesn't allow you to earn 1% every day; the market can change at any moment, making it very difficult to maintain this yield!
3️⃣ Probability, Take Profit and Stop Loss, and Mindset are All Important
Investment always has wins and losses. If you can ensure a 60% win rate, taking 10% profit each time and cutting losses at 10%, in the long run, you will definitely profit. But the key is to resist temptation, not be greedy, and not be afraid. The cryptocurrency market is volatile, and an unstable mindset can lead to significant losses.
4️⃣ Greed is Truly a Big Pitfall
You see those who start with 10,000 U and consistently earn 10% each time, theoretically, they could quickly become billionaires. But in reality, almost no one can achieve this. Because human greed is insatiable, and after making some money, they become overconfident and end up losing it all.
5️⃣ Contract Trading, Be Smart with Position Management
Managing positions in contract trading is crucial. Some people like to invest the majority of their money at once, which is very risky. A wise approach is to only use a small portion of your capital, like 5%-10%, then leverage it by 50 times. This way, even if the market fluctuates greatly, you can maintain your footing and avoid catastrophic losses.
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