Before you trade in cryptocurrencies, first make it clear whether you are investing or speculating. You often see people who are quick to get on board when a certain coin goes up. How much money have you made today? You will not make money trading in cryptocurrencies this way.
When the market is good, you get excited. When the market falls, you get depressed. This is not the purpose of trading in cryptocurrencies.
At least you should divide your funds into 2 parts. One part is used to invest in some valuable and currently undervalued coins. The other part can be used for speculation.
At present, the people who can really make money in the cryptocurrency circle are long-term investors. Recently, many cryptocurrency friends have asked how this coin is? Can I buy it? In fact, when you ask, you should ask yourself 3 questions first.
1. Why are you optimistic about this coin?
2. What is your profit target for this coin?
3. Where is your loss position for this coin?
Trading in cryptocurrencies is not speculation, there are only 2 steps: buying and selling.
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