The following are 12 summaries that everyone has used and sorted out in the cryptocurrency trading community.
Its fundamental core: cultivate a good attitude
1. The currency market is like a mirror that can reflect everyone's weaknesses. Win or lose, be calm and don't be happy when the market goes up or sad when the market goes down.
Be patient when encountering problems, wait when there is no opportunity, and be accurate and ruthless when the opportunity comes, without hesitation.
2. Impulse is the devil. Blindly and without planning, chasing highs and selling lows will definitely not make you have a good mentality. You must chase highs appropriately with skills, and develop the habit of buying low during the rest of the time. Only in this way can you maintain a good mentality.
With the mentality of grabbing money, if you want to catch the skyrocketing prices every day, you will definitely go astray and suffer heavy losses.
3. Clearly define your goal, whether it is short-term or medium- to long-term. If it is short-term, you must choose the right currency and sell it when you reach your profit target. Don't compare how much you earn, as long as you make money, it's good. Of course, it is impossible to make money every time in the short term. Cut your losses when you should, and don't always have psychological pressure when you lose. In short, remember one thing, as long as the overall return is positive. Don't care about every win or loss, which will make people happy or sad, and explode their mentality. If you are doing long-term, choose the right currency and buy valuable ones, otherwise it is not worth wasting time on long-term. Don't check it frequently after entering the market, just treat it as a bank account, do what you should do every day, wait until the right time to check it again, and sell it when you think it is almost done.
4. After the order is trapped, you must make a correct judgment. If it is a large-scale adjustment and the currency held is in the early stage of adjustment, you should decisively stop loss and exit.
Any investment requires intelligent patience.
5. Do not invest all your assets, and do not borrow money to purchase currencies.
Don't be impatient for quick success, don't be indecisive, and don't indulge in playing with coins.
6. Do not use short-term working capital for operations.
7. Use your own brain and don’t just follow the crowd.
Investment success is based on existing knowledge and experience!
If you have doubts about a currency, don't insist on it anymore, give up as soon as possible.
8. K-line charts and volume charts are your only compulsory technical courses.
The fist hits outwards, and the arm bends inwards. Only when the arm bends inwards and the fist hits outwards will there be space and power. The decline in the price of the currency is actually to make room and accumulate energy for a better rise in the future.
9. Don't easily fill your position at any time. This will help maintain a normal state and allow you to attack or defend in operation.
Be flexible in buying and selling, and don't be too haggard.
10. When business goes smoothly, be sure not to get carried away.
Always keep a 50% position in your account, and even learn to go short.
