Coin circle tips for novices:
1. Don’t have unrealistic expectations
The currency market has experienced ups and downs, and now it is gradually entering the era of formal financialization and big capital competition. Don’t think about finding a currency and becoming rich overnight. It is quite rare to find a currency that can increase more than ten times. Even if the bull market comes, there will not be many coins with huge gains.
2. Participate cautiously in the primary market because of the high risks
Although the rewards of investing in new projects in the primary market may seem huge, don't forget that the risks are also very high. Most projects will probably fail eventually, and the people who recommend you try them probably won't tell you that. When a popular person or exchange loses confidence, they may pull out, leaving you alone to take the risk.
3. Be cautious in contract transactions
Contract trading does have the potential to bring huge profits, but it also has the potential to cause huge losses. Remember, the core of currency speculation is to manage positions steadily, not how much you earn from a single transaction.
4. Be cautious when following trends
When a currency is hyped, it is usually near the top. If you already hold this currency, you can consider selling it; but if you haven't bought it yet, the risk of entering the market at this time is greater, and you may become a taker.
5. Different stages have different priorities
If you are still in school, please put your studies first; if you are a young person, please focus on self-improvement, and currency speculation is only an auxiliary means; if you are already working but not yet stable, please choose a stable job as a The primary task. Trading is a long-term battle, and you can't get rich in the short term.
6. Have a peaceful mind and understand that profits and losses come from the same source
Don't be too arrogant when trading profits, and don't blame yourself too much when losing money. We need to understand that profits and losses are both part of trading. The key is to learn from them and constantly summarize. Emotional traders have a hard time doing well in the market.
7. Off-site earning ability is equally important
In addition to the trading itself, it is also important to have excellent off-market earning capabilities. This can provide you with continuous financial support and allow you to be more leisurely in your transactions. At the same time, it will also help you maintain a calm mind and continue to persevere when you encounter losses.
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