Regarding bottom fishing, newbies who are confused can read here
First of all, you have to think about how to allocate funds. If you have 100,000, then focus on one coin and don't be greedy. If you have 200,000, you can consider putting it in two baskets. Within 500,000, you can pick up a maximum of 4 coins. If you have more, you really can't manage it. No matter how much you have, don't hold more than five positions. When the bull market comes, concentrate your firepower, and you may make a fortune. But if the market is not right, you must withdraw quickly, and stop loss decisively to keep the principal is the kingly way.
Let's talk about positions. Mainstream coins and altcoins must be well matched. I personally recommend that 40% of the positions be given to those ten-fold coins that are steady and have great potential for peace of mind. For the remaining 60%, just try those hundred-fold coins that may increase a hundredfold. But don't forget that risks and benefits coexist, and every step must be calculated before going.
Information is money. Read more financial news, especially those about the cryptocurrency world, and learn some techniques to improve your judgment. The most important thing is to follow the trend. When the market falls, don't be blinded by those small rebounds, most of which are traps. When the market rises, the pullback is an opportunity to pick up bargains. Don't always think about buying at the bottom, and don't guess what the main force thinks. We small retail investors can't afford to play those high-IQ games.
What should I do if I lose money? Set a stop loss point, and admit it when it reaches it, don't hold on. Don't be too proud of making money, and gradually increase the stop profit point to prevent the profit from slipping away again. You need to be decisive when buying and selling. Think more before buying, and once you decide, you must act quickly. When selling, you must be ruthless, and let go when it's time to let go. In March this year, our community was shouting to clear the warehouse, and the obedient brothers are now smiling and making a lot of money. But some people are greedy and think that it can still rise, but they didn't catch the rebound and lost money.
Finally, don't always think about making quick money in the short term. That thing is like gambling. Winning or losing depends entirely on luck. Big money is earned with patience and vision. Calm down and see clearly how the market is going before you act. Don't rush to buy at the bottom just because the market has fallen sharply. Many times it is just an illusion. You think you have bought at the bottom, but in fact you may still be halfway up the mountain.
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