18 Secret Tips for Trading Cryptocurrency! Remember, in a bull market you can get rich, in a bear market you can save your life!
1. 'Seven do not buy, three do not sell.'
Do not buy: surging, unclear, declining, neglected, too popular, bizarrely favorable, blindly following the trend.
Do not sell: just broken through, in trend, long-term positive outlook.
2. 'Those who know how to buy are apprentices, those who know how to sell are masters, and those who understand staying in cash are ancestors.'
3. 'Only invest what you can afford to lose.' Do not invest money beyond your capacity, to avoid life difficulties caused by losses.
4. 'Do not go all in, do not gamble everything.' Leave some room to avoid a situation where one decision leads to no way out.
5. 'Focus on momentum when rising, focus on quality when falling.' In a bull market, watch the trend; in a bear market, focus on fundamentals.
6. 'If you make a profit, run; if you incur a loss, stop loss.' Take profits in a timely manner to avoid expanding losses that cannot be recovered.
7. 'Better to miss than to make a mistake.' Do not rush in due to fear of missing out; rational analysis is more important.
8. 'The stock market and crypto market are not about reason, but about emotion.' Market prices reflect emotions more than real value.
9. 'Trend is king, going against the trend is death.' Operate in line with the trend, avoid resisting it.
10. 'Less action, more observation; when acting, be precise and calculated.' Reduce frequent transactions, every trade must have sufficient reasons.
11. 'Do not be greedy or fearful; victory should not lead to arrogance, and defeat should not lead to discouragement.' Greed and fear are the biggest enemies of investors; a balanced mindset is essential for the long term.
12. 'Holders of coins are slaves, holders of stocks are warriors.' The volatility of trading cryptocurrencies is higher, and psychological resilience must be stronger.
13. 'Long-term is gold, short-term is silver.' Long-term investment is often more secure than short-term speculation.
14. 'The longer it goes sideways, the higher it goes up or down.' The longer the sideways movement, the greater the increase or decrease when it breaks out.
15. 'Good news often leads to bad news, bad news often leads to good news.' When the market reacts weakly to news, it may indicate a trend reversal.
16. 'Of ten people trading stocks, nine lose and one profits; of ten people trading cryptocurrencies, nine explode and one lies down.' The harsh reality in the market, but it also reminds everyone of the importance of risk management.
17. 'Bitcoin feeds on the sky, meme coins rely on hype to fly.' Emphasizes the attributes and speculative characteristics of different targets.
18. 'Stock trading relies on technology, cryptocurrency trading relies on faith.' The difference lies in the higher emotionality in the crypto market.