Cryptocurrency trading, for now, is a zero-sum game. The money you make is the money lost by others. Think about it, what advantages do you have over others, or the dealer! ? If you have broken the cage of thinking, congratulations. Next, you can take some correct steps to make money in cryptocurrency trading. I have summarized the following 7 points:
1 Cultivate yourself and understand your mood and state. Don't trade when you are in a bad state! You need to adjust your mood and keep your mood calm.
2 Take a general view of the overall situation, find opportunities with high success rates, control the overall trend, and make it clear whether the success rate of short selling is high or long selling. Formulate action signals, and take decisive action once the signals appear.
3 Know how to find danger signals When holding a position, you must be good at discovering danger signals. Once a danger signal appears, you must take action, that is, reduce your position, or close the position!
4 Track the market As time goes by, the stop loss and stop profit positions must be continuously updated. Ensure that when you lose, you lose less. When you make a profit, avoid too much profit giving back.
5 End this order. Once a danger signal appears, end it decisively.
6 Summarize each order. Be good at summarizing and know why you make money and why you lose money. If you make money, keep it. If you lose money, think about strategies and how to improve.
7 You can set a standard for periodic summaries. It is a big summary once a month, or a big summary after 50 orders. The content of the summary includes: correcting previous wrong ideas and operations; improving new strategies; increasing the chances of high success rate and the conditions for emergence.
Everyone will bring their own psychological problems to the market. If you realize that you have any psychological problems, you should deal with them outside the market, otherwise it will definitely appear in your transactions and cause losses.
Finally, I hope that everyone will see risks when seeing benefits. Trading masters like Buffett put risks first. Stable and continuous profits are the only way to make money, or get rich!
