Advice for newbies like me!!!
I entered the coin market about a year ago through the Binance app. At first, I knew nothing about stocks or coins, didn’t understand support lines, candles… I only knew to buy when the price dropped and wait to sell when the price rose, and I lost money, although not much, because I was only trying with a few dozen USDT. Then I thought, it felt like being scammed when I placed a buy order, the price went up, and the sell order the price went down. So I quit until October this year when I reopened Binance, sold off my old coins for 50 USDT. I don’t know if it was luck or because later I diligently watched the indicators and predicted price movements quite accurately, I added another 300 USDT, and within 2 weeks my account balance reached 500 USDT. Profit ~45%, of course, if you invest more, you can earn more but also risk losing more if you miss the timing or make a mistake. So newcomers should pay attention:
1. Don’t invest a large amount in meme coins, play 1/5 of your capital to get accustomed to the rhythm of the market.
2. When entering Altcoins, check the information about the coin's ecosystem, look at the charts for 5 minutes, 15 minutes, 1 hour, 4 hours… to find signs and time your investment with 2/5 of your capital.
3. The remaining 2/5 of the sustainable coin investment is $BTC or $ETH, these coins change price relatively slowly, the likelihood is to wait for any notable events for the price to change significantly.
4. After allocating investments, you must stabilize your mindset and know what stage you are in because acting at the wrong time always causes you to lose more money.
Finally, I wish you all clarity in your buying and selling decisions!!!
