I have been working in the cryptocurrency industry for 7 years. These nine iron rules are a must-read before entering the market every day, which allows me to survive rounds of ups and downs. The cryptocurrency industry is a place to make money. High returns are also accompanied by high risks. I have compiled some tips for cryptocurrency investment for everyone, hoping to be inspiring and helpful!

First, decisiveness

A good investor needs decisive qualities. If you see the right one, follow your own ideas. Don't be afraid of losses. Reasonable losses can avoid risks. Don't be indecisive.

Second, the point

There are two modes of digital currency for the point of entry, bullish and bearish, which can be divided into four types: low-long, low-short and high-long, and high-short. If it is a unilateral momentum, this is all feasible, but if it is a shock trend, then there is no need for low-short and high-short, and don't chase ups and downs.

Third, the position

The allocation of funds should be consistent with the psychological tolerance. When the position is too large and full, once the trend changes, the loss increases and the psychology changes, so that the operation analysis cannot be calm and errors are caused.

Fourth, stop-loss

Under a unilateral trend, the stop-loss method can increase the profit margin, while in a volatile market, stop-loss requires personal thinking about the point of closing the position. In a volatile market, it is possible that a small profit per order can accumulate into a large amount.

Fifth, stop-loss

Before investing, you have to think about the stop-loss price, and fill in the stop-loss price after placing an order. If the market is not the trend you expected, you can reduce losses and save your vitality as soon as possible.

Sixth, frequency

Digital currency can be traded 24 hours a day, so some market conditions will be missed. You need to master your own trading frequency. Too much trading will lead to technical analysis errors.

Seventh, mentality

Mentality is the most important thing in this industry. How much money you make will affect your mentality, but we have to think about whether it is profit or loss rather than how much money you make. It is better to make less money than to mess up your mentality and lose money.

Eighth, increase positions

In a unilateral trend, we can increase positions with the trend, but we cannot increase positions against the trend. There is a high probability that increasing positions in a counter-trend will lead to greater losses, and we cannot arbitrarily cancel or change the stop loss of a counter-trend order.

Ninth, follow the trend

When the market shows a one-sided trend, we cannot think of adjusting at any time. Maybe all indicators are at high levels, but the indicators will also deviate. We cannot go against the trend$BTC $ETH