Basic Principles of Investment
🟨 Do not trade without charts: Never engage in cryptocurrency trading without looking at price charts.
🟨 Avoid chasing highs on good news: Never buy in when good news is released, especially if the chart shows a significant price increase before the news was announced.
🟨 Do not bottom fish during a crash: Never buy just because the price seems low during a crash. Under ongoing selling pressure, prices often go even lower.
🟨 Stay away from downtrends: Never buy during a downtrend.
🟨 Do not hold declining coins: Never hold onto coins that are in a downtrend, no matter how low their so-called “valuation” is. When prices go lower, you will understand the reasons for the decline.
🟨 Maintain trading consistency: Always adhere to the principle of trading consistency. If you buy sometimes and sell at other times under the same circumstances, there is a significant issue with your trading discipline.
Investment is a battle of mindset and self-discipline. Few can truly follow these seemingly simple principles.
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