Cryptocurrency: Some make 50 million from 100,000, while others lose everything in a day — these 5 tips are key
The cryptocurrency world is both loved and hated; some can multiply tens of thousands by hundreds, while others can lose everything in a day. I know a senior who initially invested 100,000, and now the market value has long exceeded 50 million. He says that in this market, everyone is a retail investor; as long as you can control your emotions, you can treat this place like an ATM.
Surviving in the cryptocurrency market relies not only on luck and skills but also on the ability to 'endure': if your mindset is steady and your strategy is right, the market can generally allow you to make money. Today, I’ll share the 5 practical tips he taught me to help you avoid pitfalls:
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1. Don’t rush to enter
No one can make big money as soon as they enter; slowly entering the market is the right approach. Don't rush in just to chase trends; stabilize first and test the waters, don’t enter blindly.
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2. Sideways movement means opportunity
Sideways movement isn’t necessarily a bad thing; in fact, it’s the best buying and selling point: if it’s low and moving sideways while making new lows, heavily buy the dip; if it’s high and moving sideways while pushing higher, sell decisively. Identify support and resistance levels, and you can still make money in the fluctuations.
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3. Don’t panic with fluctuations, seize opportunities
When the market rises sharply, sell quickly; when it plunges, buy quickly. During sideways movement, be patient and wait; when the market moves, catch the rebound and pullback, and you can position yourself on the winning side.
4. Clearly identify buying and selling timing
When others are greedy, you should be fearful; when others are fearful, you should be bold.
Buy on bearish candles and sell on bullish candles; if the market rises in the morning, enter; if it falls in the morning, sell. Look for the right timing, don’t chase highs and lows yourself.
5. Control risks, preserving life is the most important
In the seemingly calm market, there are always big waves hidden. Don’t operate with a full position; acting unilaterally is the most dangerous. Learn to enter the market in batches, stop loss when losing, and withdraw when gaining; always maintain calmness, knowing where you stand is key.
These simple rules are accumulated from repeated market lessons. Learn to stay calm, learn to wait; there are plenty of opportunities in the cryptocurrency world — it’s just about how you seize them.
"While others are recklessly losing their capital in the cryptocurrency market, I've already understood the practical details of these 5 tips in my chat room — do you want to join in to avoid unnecessary detours?"