The iron law of the cryptocurrency world, keep it in mind, and wealth will naturally come!
First, for those cryptocurrencies with complex situations that are unclear, do not easily get involved. Trading cryptocurrencies is like picking persimmons; the soft ones are easier to squeeze. Only by choosing clear cryptocurrencies can you advance steadily.
Second, do not invest all your funds into the same cryptocurrency at once, even if you are very confident in it. The market changes rapidly, and the future is hard to predict. Buying in batches can reduce risk and ensure steady profits.
Third, for cryptocurrencies that are not in an upward trajectory, it is advisable to pay less attention. Do not accompany the main players to build positions; retail investors have limited time and energy and should focus on valuable investments.
Fourth, do not fantasize about making big money through frequent short-term trading. Frequent entry and exit will only lead to heavy losses, while exchanges will happily accept the profits. Also, do not purchase too many cryptocurrencies; it is best to keep it within 10, otherwise you will struggle to manage. Remember, too much greed leads to failure; focus is the key to success.
Fifth, low prices and significant declines are not reasons to buy. Cryptocurrency prices may continue to fall, so it's crucial to stay calm and not be deceived by low prices.
Sixth, high prices and significant increases are also not reasons to refuse to buy or sell. The market is always full of variables, and cryptocurrency prices may continue to rise.