How to operate when you just enter the cryptocurrency circle?
1. Position: Short-term positions do not need to be too large, accounting for a maximum of 10% of the total position, and the rest are placed in the long term or used to cover positions. After all, long-term positions are the basis for us to make money.
2. Currency: Although it is a short-term operation, try not to touch the currencies you don’t understand. Give priority to the ones you are familiar with and can understand. If it is a bear market, it is recommended to only touch mainstream currencies or even Bitcoin, because even if the stop loss is not timely, the loss is only temporary, while the altcoin is not necessarily, and the loss may be forever.
3. Time: My personal definition of short-term is that half a month or even 1 month is considered short-term. Unless you can always watch the market or have relevant automation software, I don’t recommend that you do any kind of band for a few hours. The specific short-term time depends on the market trend, ranging from a few days to ten days.
4. Take profit and stop loss: I found that the big losses in the short-term are all due to the failure to take profit or stop loss in time, so when you participate in the short-term, you must make a rough plan for taking profit and stop loss. This plan does not have to be very detailed, just have a general direction, and then adjust it according to market changes.
If you like contracts, like to study the market, and study technology, click on the avatar, the currency circle has many years of experience and skills, free sharing, I am waiting for you in the circle, online at any time, welcome to discuss and make progress together