I really don't recommend cryptocurrency trading to the average person, because the average person will only lose money. If you want to make money, I have come up with several factors based on my experience over the years. You can refer to them, but they may not be useful.
1. Don't bring emotions.
Emotional opening is the most fatal. Some people lose their minds after a long period of liquidation or losses, and they can't wait to add more money and continue to do it. In short, they don't believe in evil. But it's often so evil.
2. Don't use high leverage.
I also use leverage myself. After all, it's a small amount of money, and it's boring not to use leverage. But leverage can't be too much. Personally, I think leverage over 5 times should not be touched.
In fact, the most stable is spot trading. If you want to make stable money, you must rely on spot trading. Most of the money I earn now comes from spot trading income, and most of the time I just open a 1x short position to hedge.
3. Take a long-term view and don't do short-term trading.
It's fast to make money from short-term trading, but you can't play it for a lifetime. If you want to make money for a long time, you have to do long-term investment. Try to open only one or two positions a week. Even if you don't have 80% confidence, don't open a position and wait and see.
This is also the time to test your emotions. If you control your emotions well, you can bear not opening a position for a long time. Waiting for a suitable opportunity
4. How big is your head, how big is your hat.
The funds invested in the currency circle should be within your tolerance range. Some people invest hundreds of thousands of dollars at any time. I'm not saying that you will be under great psychological pressure.
Suppose you see yourself losing tens of thousands of yuan every day, how do you feel? This psychological pressure is unbearable for ordinary people. Only those rich people can face it calmly, because their assets are more than that, and tens of thousands of yuan are a drizzle for them.
On the contrary, you only play a few thousand yuan. Even if you are trapped, you will not panic. Your thinking will be very clear, and you will know how to operate next to get through this period safely.
Of course, I am not saying that everyone should play a few thousand yuan. What I mean is that the funds you play must be in the case of losses, and you can face everything calmly without affecting your daily life. It is common to be trapped, so you have to hold on during this period. As long as you can get through it, you will be a good man again.
