The iron rule of cryptocurrency trading:
First, for those currencies with complicated situations that you cannot see clearly, do not rush into them. Pick the weak ones and squeeze the weak ones. The same applies to currency speculation.
Second, donât buy all your money into the same coin at once, even if you are very optimistic about it and it turns out that you are right. Because things change rapidly, no one knows what will happen tomorrow.
Third, if you mistakenly buy a currency that is on a downward trajectory, you must sell it quickly to avoid further losses.
Fourth, if the currency you bought has not lost money yet, but has entered a downward track, you should also exit and wait and see.
Fifth, if the currency is not on the upward track, it is recommended to pay less attention to it. No matter what happens to it in the future, donât accompany the main force to build a position. Retail investors donât have time to waste with them.
Sixth, don't fantasize about making money and always do short-term trading, going in and out every day. Frequent entry and exit may bring you pleasure, but it will make you lose a lot of money. The only one who benefits is the exchange, and you will not have such a high level, and you are not a banker. Don't buy too many currencies, preferably no more than 10, you don't have so much energy to watch them. It's like if you want to marry five wives, even if you are in good health, you can't satisfy your wives. Wei Xiaobao's story only happens in novels.
Seventh, this coin is very cheap and has fallen a lot, but it is not a reason for you to buy it, never!!! It may even be cheaper!!!
Eighth, this coin is very expensive and has already risen a lot, but it is not a reason for you to refuse to buy or sell. It may rise even higher!!!
Advice:
1. Donât throw away bull coins easily. Choose bull coins first. Get halfway. Do both hot and strong coins. Investment and speculation are both suitable. Get the whole way.
2. The most important thing for a trader is the ability to respond during trading.
3. Qualitative analysis must be done well. Qualitative analysis of large cycles, weekly coin selection, monthly identification, and daily tracking
4. Follow the rules and use Bollinger or other moving averages that you think are feasible to view the market
5. Ability cannot be taught, it all depends on technical skills. Repeat successful experiences and make making money a habit. It is more important to make money frequently than to make a lot of money. #BTC
