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I will share with you 16 lessons learned from 8 years of Cryptocurrency Trading.
1. Choose altcoins during a bull market, and buy mainstream coins during a bear market. This is my own unique secret.
2. Coins with increased volume at the bottom must be given special attention, as this is a signal that they are about to take off. Don't miss it.
3. When the coin in an upward trend retraces to important moving averages, it is the best time to buy, remember to seize the opportunity.
4. Do not trade frequently; making a few significant trades in a year is enough. Greed can lead to substantial losses.
5. You must control your position well, never go all in, and leave some room for yourself to cope with market changes.
6. For losing junk coins, do not average down; timely loss cutting is the wise choice, don't let yourself get deeper into trouble.
7. The news can only serve as a reference; do not blindly follow the trend or go all-in, or you will bear the consequences.
8. Do not touch unfamiliar coins; focus on the tracks you are familiar with to ensure a stable victory.
9. Do not be influenced by market sentiment; stay calm and rational to make the right decisions.
10. When altcoins rise too much, they will definitely fall; when they fall too much, they may not necessarily rise. Choosing is very important, and you must keep your eyes wide open.
11. When most people are optimistic, it is often when the risks are approaching. Remember this, don't let yourself become a bag holder.
12. Learn to stay out of the market and wait for clear signals before entering, so that you can avoid unnecessary losses.
13. Don't follow the hype of hot trends, as they often come and go quickly. Don't let yourself get trapped.
14. You need to have your own trading system when trading and strictly adhere to it in order to maintain stable profits.
15. Investing is a marathon; maintaining a good mindset is key to finishing strong. Don't let yourself give up halfway.
16. Investing does not necessarily guarantee profits, so try to invest with spare money. When you invest with spare money, your mindset will be better, and the probability of winning will increase. Remember this point, and don't let yourself fall into difficulties because of investing!