Twelve tips for cryptocurrency novices!
The twelfth one may change your life!
The first tip
The cryptocurrency market is no longer an era of rising and exploding. It is now entering a formal financialization stage, and capital institutions are beginning to enter and participate in the competition.
Don't fantasize about picking up leaks and getting dozens or even hundreds of times the profit. Under the current market sentiment, it is rare to see coins that can achieve several times the growth.
The second tip
New project investments in the primary market can indeed have small investments and big returns, but you must know that 99% of the projects will eventually return to zero.
Even if some projects are listed on small exchanges, you should also pay attention to the fact that some opinion leaders may remind you in advance when selling.
The third tip
Although full-position trading contracts and full leverage may bring huge returns, they also bring huge risks.
Remember that the essence of trading is not equal to how much profit a transaction makes, but the long-term stability of the trading strategy.
The fourth tip
When a certain currency shows a crazy rise, it often means that it is nearing the end.
At this time, if you already hold the currency, you can consider exiting.
If you don't hold the currency yet, it's best not to enter the market at this time, because it is likely that you are taking over.
Fifth advice
If you are still in college, please focus on your studies and use cryptocurrency trading as a side job.
If you are under 25 years old, please focus on improving your abilities and use cryptocurrency trading as a supplement.
If you are under 30 years old, please give priority to a stable source of income and use cryptocurrency trading as an additional part of your income.
Trading is a long-term and patient job, not a temporary stimulant.
In addition, trading requires a lot of time and energy.
Even for gifted traders, it takes at least five years to achieve financial freedom.
Having a good off-site income source and sufficient funds can maximize the success rate of transactions.
Sixth advice
Don't be overly emotional whether the transaction is profitable or loss-making.
Understand the principle of "profit and loss come from the same source".
Whether the transaction is profitable or not, you should regularly summarize your trading experience and think about the reasons behind each transaction.
Remember that it is difficult to successfully resolve the emotions of traders.
Tip 7
People who make money rarely share their experiences easily. If someone tells you that a certain currency can bring great benefits, you should be careful, it is likely that he wants to get these benefits from you.
Tip 8
Don't easily believe those who announce their profits. It is likely that they only selectively announce their profits and ignore their losses, or just to establish their own image.
Tip 9
Most people who play contract trading will eventually lose money. This is almost certain 99%.
Remember that people's real desires are endless. It is difficult to quit gambling and make every transaction rationally.
Tip 10
You should pay attention to some bloggers who share their experiences, rather than those who only brainwash, promote or announce their profits.
Think about what you can learn from them.
Tip 11
Exercise your own ability to express your opinions, rather than blindly follow the opinions of others.
Everyone should find a way to make money that suits them, rather than blindly follow others.
Twelfth Advice
As an investor who has been working in the cryptocurrency industry for many years, I am willing to share my experience and insights with you for free. If you are interested in the cryptocurrency industry but don't know where to start, you may wish to follow my homepage and discuss the mysteries and future possibilities of the cryptocurrency industry with me. Click on the avatar to find me.
