A guide for beginners in the cryptocurrency circle: Master position management and trading mentality, and making steady profits is not a dream!
For beginners in the cryptocurrency circle, two hard skills must be acquired! That is position management and trading mentality.
If you master these two skills, you can thrive in the cryptocurrency circle, and a bulging wallet is not a dream!
Let's talk about position management first, which is the guardian of your wallet. You have to set a safety line for yourself. Once you make money, you have to put a "bumper" near the opening price-a stop loss order. In this way, even if the market suddenly changes, your principal will be safe. Especially when speculating on those small cottage coins, once the price rises, you have to be smart, enlarge the stop profit position, and follow the price. Don't forget to put the "bumper" at any time.
Don't be complacent just because you make a little money. You should know when to stop. If you lose a little, don't be impulsive and invest again, which will only make you sink deeper and deeper. Follow the trend, don't always think about buying at the bottom, the real bottom is determined by the market, you can't guess it.
You have to have a stable trading system, don't have a different idea every day, and confuse yourself. Wait patiently, don't always think about chasing ups and downs, the callback is a good opportunity. You also need to control your position and leverage, don't get carried away when you make money, and stop when you should.
Let's talk about trading mentality, which is the key to your long-term mixing in the cryptocurrency circle. When you encounter floating profits turning into floating losses, you have to be calm and don't let your emotions affect your judgment. Cryptocurrency trading is about mentality, you have to learn to compete with your own psychology, and don't be led by the nose by temporary gains and losses.
If you want to mix well in the cryptocurrency circle, you have to keep learning and improving yourself. Summarize every day, learn lessons from practice, and improve your trading level. Only in this way can you gain a firm foothold in this unpredictable market and make a lot of money.
In short, position management and trading mentality are the two secrets of cryptocurrency trading. Newbies, if you want to make money in the cryptocurrency circle, you must practice these two tricks well, don't let them become your stumbling blocks!
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