New to trading cryptocurrencies? These tips will help you avoid detours!

The cryptocurrency market is highly volatile, so it's important for newcomers to do their homework before entering. Here are some practical suggestions to help you avoid common pitfalls and maintain a steady mindset.

1. Don’t think about getting rich overnight

There are many rumors about explosive gains in the crypto market, but don’t get sidetracked; steady and methodical is the way to go. Short-term profits may be thrilling, but most of the time chasing spikes will only lead to greater losses.

2. Start with a small amount, don’t dive in headfirst

When you're just starting out, it's wise to try with small amounts multiple times to adapt to the market's rhythm. A series of small trades can effectively spread risk and allow you to see market trends more clearly.

3. Stay vigilant even if you’re making money

If you’re already earning over 20,000 a month, it’s even more important to stay grounded and rational. Don’t increase your positions too much based on short-term gains, as the market direction can change at any moment.

4. Always set stop-loss orders for contracts, no jokes!

The leverage in contracts can be tempting but can also lead to significant losses. Always remember to set stop-loss orders for every contract trade to strictly control risk, or your losses may exceed your expectations.

5. Be patient and don’t rush to make quick money

There’s a saying in the crypto community: “What you earn is just the money for your time.” Short-term volatility may tempt you to exit prematurely, but real gains often require long-term holding to accumulate.

6. Your profits come from other people's losses

Any profit is not created out of thin air; it comes from the losses of other investors in the market. Understanding this can help you remain calm and not get swayed by short-term fluctuations.

7. Use idle funds for a steadier mindset

If you're using spare money, your ability to withstand risks naturally increases. The crypto market is high-risk; only by using idle funds can you avoid being led by market emotions.

8. Avoid coins that have dropped too much; coins that have dropped about 10 times are worth a look

Coins that have plummeted by several times usually lose their investment value, signaling a potential “zeroing out.” However, coins that have dropped around 10 times may just be in a phase of decline, with a chance to recover in the next bull market.

Keep these tips in mind, don’t let impatience take away your rationality, and gradually accumulate experience; you will find a rhythm that suits you.