Newbies in cryptocurrency must read! Only use spare money, focus on these 3 points to avoid loss and earn steadily.
Many newcomers to the crypto world get confused by various complex candlestick charts and terminology, either hesitating to enter the market or blindly following trends, ultimately resulting in significant losses.
In fact, newbies in cryptocurrency don't need to understand complex technologies or stay up late monitoring the market; they just need to use spare money and focus on these 3 points to avoid losses and earn steadily. Newcomers can simply follow this advice!
First point: Only use spare money for trading; do not invest wedding money, emergency funds, or retirement savings into cryptocurrencies. If you lose money, it won't affect your normal life, allowing you to maintain a stable mindset and not be swayed by emotions, thus avoiding losses due to panic selling or greedily chasing highs.
Second point: Only engage with mainstream cryptocurrencies, not with scam coins or altcoins. Bitcoin and Ethereum are the anchors of the cryptocurrency market; although their price increases may not be as high as those of altcoins, they carry lower risk and higher liquidity. Even during market crashes, they won't go to zero and are suitable for long-term holding by newcomers.
Third point: Set strict profit-taking and stop-loss orders. Take profits when you've earned 5%-10% and don't be greedy for the last bit; stop losses at 5% to avoid holding onto losing positions and not having unrealistic hopes, thereby preventing losses from expanding.
For newbies in cryptocurrency, the primary goal is not to get rich quickly, but to preserve capital, gradually accumulate wealth, and sustain a long-term presence in the crypto market to earn their own returns.