Ten years of hard work: From a loss of 80% to supporting my family by speculating in cryptocurrencies, I have summed up these 6 iron laws! !
I once experienced a painful lesson in the cryptocurrency circle. My loss once reached 80%, and I even began to doubt my life. But I did not give up. I fell and got up again, constantly summed up my experience, and finally realized today that I could support my family by speculating in cryptocurrencies. Today, I want to share 6 iron laws of cryptocurrency speculation. Although they are brief, they are extremely valuable and worth collecting and preserving.
Trend is king: In any market, the trend is an unshakable law. Once a long-term trend is formed, it is difficult to change in the short term. Upward is bullish, downward is bearish. If you don't understand, you can use the 20-day moving average as the trend line, and continue to track and hold if it does not reverse.
Price-volume relationship: Learning to understand the price-volume relationship can surpass most retail investors. The healthiest mode is the rise in price and volume. In the main rising wave, the main force is highly controlled, and there will be fewer washes.
Focus on holding coins: Don't hold too many coins. Diversified investment will weaken your judgment. Focusing on a few coins, especially focusing on one coin, and repeatedly rolling operations will make it easier to keep the rhythm and get higher returns.
Overall view: Look at the market from the overall to the local, don't always stare at the time-sharing chart. The fluctuation of the time-sharing chart can easily make people uneasy and lose the overall view and strategic thinking.
New high strategy: For new high coins, many technical indicators will fail. Strong coins only need to pay attention to the volume and the 10-day moving average. As long as the coins climbing along the 10-day line do not fall below, they can continue to hold and enjoy the joy of rising.
Human trap: The weaknesses of greed, fear, suspicion and other human nature are particularly evident in currency speculation. Greedy when rising, stubborn when falling, and doubtful of rebound when the market starts, often miss the best time.
It is crucial to establish a closed-loop trading system, enter and exit according to principles, rather than being swayed by emotions. Weigh risks and manage funds well. Even if the analysis is wrong, the system will help you correct it and return to the right path.
The market is changing, and only by adhering to principles and mastering skills can you be invincible in the currency circle. Together with Lao Lin, continue to learn and move towards the peak of wealth together!