Eight Iron Rules for Survival in the Crypto World, Helping You Navigate the Battlefield
The crypto world is like a battlefield, full of unpredictable changes. To gain a foothold in this tumultuous field, the following eight iron rules must be remembered.
1. Be Cautious in Averaging Down. The crypto world is fraught with uncertainty; once trapped, do not blindly panic and average down in hopes of quickly reducing your cost. This approach contradicts market logic and requires careful consideration.
2. Increase Investment Only with Profit. Do not blindly add funds before your trading system demonstrates stable profitability. Losses indicate flaws in your strategy, and adding funds at this point will only amplify your losses. First reflect and adjust; act only when your strategy is mature.
3. Follow the Trend. Market trends fall into three categories: rising, falling, and sideways. Lightly hold or remain out during declines, actively participate during rises; following the trend can increase your trading success rate.
4. Simplified Trading. When chart patterns align with your personal trading system, act decisively. At the same time, manage stop-losses and position sizes to safeguard your trading.
5. Do Not Average Down on Losses. Averaging down during losses is like pouring water on a fire; it will only lead to uncontrollable risks. Remain calm and avoid letting emotions interfere with your decisions.
6. Precisely Increase Investment. When the market breaks through resistance levels, increase your position to buy; when it falls below major distribution areas, decisively short. High-level fluctuations after a long-term rise hide secrets.
7. Avoid Impatience and Anxiety. Greed and desire are great enemies of trading. Maintain calm and patience to stand firm in a complex and ever-changing market.
8. Allocate Reasonably. Investing is like walking a tightrope, "Don't put all your eggs in one basket." The risks in the cryptocurrency market are hard to measure; diversifying investments and adopting a multi-faceted approach is the way to stability.
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