Do novices lose money every day when speculating in cryptocurrencies? Let's see how veterans speculate in cryptocurrencies:
1. Determine the trend of a coin and predict the trend for more than one month. Most of the trends within one month have only one trend, which is rising. Then build a position at a low position, do not operate, do not do swing trading, and look at the income after one month. You don't have to sell it even if it triples, because high-quality coins can double dozens or hundreds of times. Or conservatively double the principal and keep the profit
2. Do not do any short-selling operations, especially contracts, which are extremely difficult and will explode your position against the trend in a minute. In a downward trend, it is better to be trapped than to go short. Because in the long-term trend, you will definitely have the opportunity to get out of the trap
3. Price predictions are all deceptive. You can only roughly judge how the general trend will go, and leave the rest to time. Don't be too obsessed with technical analysis. In crypto speculation, stock-style technical analysis is actually not very effective and can only be used as a reference.
4. Don't bet too much. Use spare money to play, and your psychological pressure will be much easier. Crypto speculation is not your life. Don't invest all your money in a certain coin. When you make money, take the profit and leave the principal to play
5. In the world of currency speculation, getting something for nothing is the biggest gain. Don't think that the more you operate, the more money you make. What you need to do is to pick one or two good coins and keep holding them, or invest regularly when you have spare money, and play with Yu'ebao. The biggest gain is often when you buy a certain coin, forget about it, and then look at it a few years later
6. Position control and risk management are very important. Many people operate the same coin, but their returns are far lower than others. Because everyone's position building timing is different, since you can't buy at the lowest price, then don't hold a heavy position. It's best to hold a light position for coins bought at a high price. Low-price position building is always your safe zone. Position control is to allocate the most appropriate amount to several good coins. Generally, I suggest that novices: Bitcoin is equal to altcoins and liquidity is equal to 1:1:1. Also learn to build positions in batches, build a part of the position at the current price, and then add positions when the price plummets, so that you can control the cost price of each coin to be very low
7. Don't watch the market all day, don't think about operation all day. Money is something outside of your body, sleeping, working and eating are the things you should do most.
