Trading cryptocurrencies is something that ordinary people should best avoid, as it basically leads to losses.
But if you really want to give it a try, listen to my insights from these past few years. However, let me clarify in advance that these suggestions may not guarantee you profits.
First, never get too emotional while trading. Some people get panicked when they lose money and want to double down immediately to turn things around, which is actually a big taboo. The more you think this way, the more likely you are to stumble.
Second, stay away from high leverage. I also play with leverage, but I never go big; I don't touch anything over 5x. Steady investment is the way to go.
Ultimately, spot trading is the most reliable. If you want to earn money steadily, you have to rely on spot trading. Most of the money I’ve made comes from spot trading, and most of the time, I just do some hedging, taking steady steps.
Third, you need to have patience and stop thinking about quick short-term gains. Short-term trading seems to bring in money quickly, but it’s not a long-term plan. If you want to profit in the long run, you need to focus on long-term investments. Opening positions once or twice a week is enough; if you're not 80% sure, don't act, and patiently wait for the right opportunity.
At this point, we also need to talk about emotional control; being able to hold back from opening positions is what truly defines a master.
Fourth, only do what you can afford. The money you use for trading should be something you can afford to lose; don’t just throw in hundreds of thousands recklessly. Think about it: losing tens of thousands every day, who can handle that? Only those who are genuinely wealthy can remain calm, because that amount of money is nothing to them.
If you’re only playing with a few thousand, even if you get stuck, you won’t panic; you’ll know exactly what to do next. I’m not saying you have to only play with a few thousand; what I mean is that the money you invest should be something you won’t regret losing, something that doesn’t affect your life. Getting stuck is common; at that moment, you need to stay calm and if you endure it, you will be the winner.
As for the upcoming layout direction, I will guide everyone to aim for the lucrative opportunities in altcoins, especially those projects with great potential, where an expected return of over 10 times is not an issue. If you want to make big money in a bull market, like and comment, and I will take you to layout the entire bull market!