Three Iron Rules for Cryptocurrency Trading: The Secret to a Healthy Wallet
1. Don't Chase the Market, Stay Calm and Pick Up Bargains
When the market is frenzied, chasing prices is like jumping into a fire pit. Remember: "Be calm when others are greedy, and take action when others are fearful." Look for quality coins during a downturn and layout your positions at lower prices—this is the way to go.
2. Don't Go All In, Diversify Your Investments
Putting all your funds into one coin is akin to gambling. Diversifying your investments can effectively reduce risks and avoid the embarrassment of losing everything in a single misstep.
3. Don't Fully Invest, Keep Some Ammo
Market fluctuations are unpredictable; leaving some room helps you respond to sudden opportunities or risks. Flexible position management allows you to go further through the storms.
Short-term Trading Tips
• Set Profit and Loss Limits: Plan the range for profits and losses in advance and strictly execute it to avoid emotional trading.
• Follow Market Trends: Pay attention to current popular sectors like DeFi and NFTs, but do not blindly follow the crowd.
• Stay Patient: Even in short-term trading, you need to wait for the best opportunity; overtrading will only increase losses.
Keep these three iron rules in mind, and trading will be more stable and worry-free!
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