5 Years of Experience in the Cryptocurrency Market: 8 Iron Rules
1. For funds under 100,000, buy only one coin; for 200,000 to 300,000, buy two; for under 500,000, buy 3-4 coins. No matter how much capital you have, do not hold more than 5 positions. Concentrate capital in a bull market and hold a small number of positions when the market is bad to be able to cut losses in time.
2. The only purpose of watching news and learning techniques is to increase your win rate. The trend determines everything: rebounds in a downtrend are often traps to lure buyers, while declines in an uptrend are usually pitfalls. Don’t fantasize about catching the bottom, and don’t guess the main force's direction.
3. Only operate when the market is active and stay flexible in response.
4. Set a fixed stop-loss when in loss; do not lower it. Continuously raise exit points when in profit to prevent profit reversal.
5. Be decisive when buying and resolute when selling. Hesitation will lead to missed opportunities.
6. Before increasing your position, ask yourself: If I hadn’t bought in now, would I still buy? If the answer is yes, then you can increase your position.
7. Don’t become addicted to intraday trading; small fluctuations can disturb your mindset. Big money follows the trend.
8. Don’t try to catch the bottom just because of a large drop; only 20% of people in the market make money.
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