Many common issues faced by newcomers in the cryptocurrency space will be shared here:
1. What is the significance of monitoring the market?
Many people focus on the market; they get excited when prices rise and panic when prices fall, only paying attention to the price fluctuations. In reality, monitoring the market is to grasp the overall trend, patiently waiting for the right buying and selling points, while also verifying if the trend aligns with their predictions. Patience in trading is crucial for waiting for the right opportunity.
2. Is it possible to go all in for high returns?
Don't think about going all in to get rich quickly; first, focus on practicing diligently. Many people with small funds get trapped, and if they go all in with large amounts, the losses will be even more painful. While it's acceptable to increase investment in the recommended targets within the student group, one should never go all in.
3. How to practice various trading indicators?
It is recommended to practice each indicator individually to accurately identify buying and selling points. Once proficient, gradually increase to using 5 - 8 indicators simultaneously for predictions, which can effectively improve accuracy.
4. Research and investment are too labor-intensive; how can I find high-potential cryptocurrencies?
Research and investment indeed require time and effort, and mistakes are inevitable. However, only by gaining an in-depth understanding of the cryptocurrencies one believes in can they maintain confidence during the holding period, understand its potential, and remain unafraid of short-term declines, thus feeling secure.
5. Is it possible to only engage in short-term trading?
It is not advisable to only engage in short-term trading. Although swing trading may seem to bring quick profits, it can only satisfy daily small gains. The key to making big money lies in the overall layout, which requires an accurate grasp of international financial trends, Bitcoin movements, and the fundamentals of various cryptocurrencies. Although this is challenging, the rewards can be substantial, and only through long-term holding can one reap significant profits.