Cryptocurrency Trading Tips
1. If the price of the coin is steadily rising, then a pullback is a small pause, and it is a good opportunity for us to get in. No coin can fly indefinitely; a pullback is like a spring storing energy, after which it can bounce even higher.
2. If the price of the coin is clearly falling, then a rebound is an opportunity to escape. Once the trend turns bad, it may take a long time to rise again, possibly half a year. Don’t hold on stubbornly, and don’t waste time.
3. For short-term fluctuations, look at the fundamentals; for long-term fluctuations, you need to rely on the fundamentals. Don’t be blinded by small gains in front of you; think long-term.
4. The bottom you guess is often not the real bottom; it may just be halfway down. The real bottom depends on sentiment and capital. Don't blindly try to catch the bottom; if you try ten times, you might get stuck nine times.
5. Don’t always think about making money from good news; real market trends are driven by expectations. Many retail investors love to hear news about trading coins, but most of the time, what you hear is what others have already discarded. Even if it’s real news, by the time you find out, the market is likely to be over.
6. Don’t easily use leverage, as it won’t increase your chances of winning; instead, it increases risk. Once you can't hold on, the losses can be significant.
7. You need to set your stop-loss and take-profit points. If it drops to a certain level, decisively cut losses; if it rises to a certain level, sell. Don’t chase after the rise for too long; many people still lose money in a bull market because they don’t understand this principle.