A must-read for newbies in the cryptocurrency world: A guide to doubling small funds
If you are a newbie who has just entered the cryptocurrency world and has limited capital, then this article is a must-read for you. If you can practice it seriously, then your funds are expected to achieve amazing growth during the next 24-25 years of the bull market.
For many office workers, they may only have $1,000 to $2,000 in their hands, but they still hope to get a share of this market full of opportunities. However, many people are eventually cut by the market because they lack a clear learning plan and investment strategy.
So, how to survive and make profits in this market? First of all, you need to abandon high-risk operations such as contract leverage. For small funds, it will only increase your risk without bringing stable returns.
On the contrary, I suggest that you focus on ultra-short-term and short-term trading in the bull market. Now the market is good, Bitcoin has broken through $70,000, various altcoins are also ready to move, and hot spots are emerging frequently. This is a good time for you to make profits.
But remember, don't blindly follow the trend or copy homework. Most of the so-called "teachers with orders" and communities in the market are not worth your paid membership. Many of them do not have real technical analysis skills, but just rely on guessing or passing on other people's information.
You need to learn to analyze the market yourself and choose potential currencies. When you see a KOL recommend a currency and make 30%, don't rush to follow suit. You can study the fundamentals and technical aspects of the currency first, and then make your own decisions.
For small funds, there is no need to diversify positions when doing short-term trading. You can consider full-position operations, so that even if you only make 10 points each time, the accumulated profit is considerable. But please remember to set a stop loss point. This can help you control risks and avoid excessive use of funds.
When choosing a trading target, it is recommended to choose popular altcoins that have already started an upward trend. These currencies often have more opportunities for you to make profits. At the same time, be careful to avoid choosing currencies that have been fluctuating sideways or at the bottom, because they may lack the motivation to rise.
Finally, I emphasize again: Do not do any form of contract leverage trading.This will only increase your risk without bringing stable returns. In this market, it is very important to remain rational and cautious.
I hope these suggestions can help you make steady profits in the currency circle and achieve rapid growth of funds.
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