In the cryptocurrency world, holding coins and selling coins are basic skills. Don't underestimate these operations; if you're not careful, you could end up being cut like chives. Today, I'll talk to you about what to pay attention to and what absolutely cannot be done. Listen carefully, it's full of practical advice.
What should you pay attention to when holding coins?
Choosing coins should be logical; don't hold blindly.
Holding coins is not about buying whatever you see; you need to understand whether the coin has 'soul.' Is the project reliable? Is the technology strong? Can it survive bull and bear markets?
Mainstream coins like BTC and ETH are stable and should be held with confidence.
Hot concept coins like DeFi, Web3, and AI can double your investment if you catch the trend. But don't hold onto every air coin; that's just giving money to the project team.
Buy in batches; don't go all in at once.
The volatility in the crypto market is astonishing; it could rise 200% today and drop 80% tomorrow. So, when holding coins, you should enter the market in batches. If the price drops, buy a little more to lower your costs. Going all in? That’s just waiting to be buried.
Maintain a stable mindset; don’t watch the market every day.
Holding coins is a long-term battle; don’t expect to get rich by checking daily gains. If it goes up, don’t get complacent; if it goes down, don’t panic. Long-term holding is the key. Remember, holding coins is about making big money in the future, not getting caught up in small fluctuations.
What should you pay attention to when selling coins?
Take profits when you can; don’t think about selling at the highest point.
The market never waits for anyone. If you’ve made reasonable profits, take them and run; don’t be greedy. Those waiting to sell at the highest point often end up being the last ones to buy. Set a profit-taking point, for example, start selling in batches when it has doubled or tripled, and don't look back.
Set a stop-loss; don’t stubbornly hold on.
If the price drops below a certain threshold, such as 30% or 50%, you should stop loss without hesitation. As long as there are still mountains, there’s no fear of no firewood. Those who stubbornly hold on usually end up suffering significant losses.
Don’t follow the crowd and chase highs; have a strategy when selling.
When the market is surging, many people want to jump in, but you need to stay calm. Don’t be fooled by others shouting 'it’s going to the moon' while you become the one left holding the bag. Selling coins should also be done in batches; don’t sell everything at once; leave yourself some room to maneuver.
Things to avoid:
No all-in betting!
Don’t fantasize about getting rich overnight; going all in usually means betting away all your future chances of recovery. Smart people know that operating in batches is the right way.
Avoid emotional trading.
Getting overly excited when prices rise or panicking when they fall is a big taboo. The crypto world is not for the faint-hearted; if you want to make big money, you need to learn to 'stay calm.'
