How to make a million with a small amount of money? Keep the following principles in mind:
👉Look for opportunities to ambush👈For example, the current MEME is very popular, and for coins like PEPE and DOGE, you have to keep an eye on the market sentiment. Controversial topics and celebrity effects are all triggers. Wait until it falls before making a profit, don't follow the trend at a high position.
👉Spread the risk👈Don't put all your money on one boat. You can consider 70% of mainstream coins and 30% of altcoins in the configuration. Mainstream coins are more stable, such as ETH or BTC. Altcoins can bring you higher returns, but also come with higher risks.
👉Fixed investment👈Fixed investment is suitable for most people. You don't need to watch the market, you just need to buy at a fixed time. For example, buy a certain amount of BTC or ETH every month to lower the cost.
👉Chase hot spots and retreat decisively👈When the hot spots of altcoins come, just do a vote, pull the hook and run, don't fight. Don't be timid when hot spots come, opportunities are rare, but once you find that the wind direction is wrong, you must retreat decisively and not linger.
👉 Keep learning and master the market 👈 You must understand market analysis, fundamental research, and technical analysis, especially pay attention to market news and sentiment. Market sentiment determines short-term prices, and news determines medium- and long-term trends.
👉 Maintain mobility 👈 Investment should be flexible, don't put all your warehouses on a certain coin, maintain good liquidity, and be able to enter and exit the market at any time. Play crypto, and keep the mobility of pulling the hook and running at any time.
👉 Pay attention to costs 👈 Exchange fees and transaction slippage should be considered. Frequent transactions may make money but be eaten up by fees.
Finally, you should have a good mentality, not be greedy or panic, there are plenty of market opportunities. Young people should do more and try more, don't be afraid of failure, every fall is an opportunity to grow. Remember, investment is a protracted battle, enjoy the process, and be a rational gambler.
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