The disadvantages of contracts have been mentioned many times, and spot is the correct way to start making money in the bull market.
So how should spot investment be done to maximize profits?
You must understand the idea of spot goods, see here↓
Investing Wisdom: Keep It Simple & Risk Management:
1. Keep it simple and focus on the core
Focusing on hoarding coins and self-media is my current simple life philosophy. Everyone’s time and energy are limited, so I choose to give up everything else and focus on the things I love and am good at. Trading advice: In addition to BTC and ETH, limit your holdings to less than 5 currencies, and only buy projects you understand and are optimistic about. Avoid blindly following the trend. Buying too many items that you don’t understand will only waste time and energy.
2. Risk management and prudent investment
Risk management is my most important principle in investing. It is not recommended to take risks for small gains, such as selling BTC to buy small currencies. Although there are profit opportunities for staking ETH, etc., it is not recommended to invest the entire position to prevent unexpected events. Everyone's choices are different, but risk management should always be a top consideration.
Market observation and K-line skills
Understand the market driver core
1. The two cores of the bull market: speculation and supply and demand. Hype helps project performance, and supply and demand influence price trends. The Bitcoin halving often heralds a bull market, with price changes due to changes in supply and demand. When trading, in addition to paying attention to the K-line, you also need to pay attention to changes in trading volume.
Make good use of K-line indicators
2. For novices in high-frequency trading or position building, it is recommended to master 2-3 K-line techniques. Commonly used indicators include: VP (Volume Distribution Chart): displays trading volume and main trading prices, helping to determine support levels. Support/resistance zone: Identify areas where prices are difficult to penetrate or fall below to assist in determining price trends. Other indicators: such as EMA, RSI, Fibonacci retracement, etc., can enhance trading decisions.
Investment Wisdom: Patience is Key
1. Patience in trading
During the bull market, prices fluctuate greatly, so you need to stay calm and not blindly chase the rise. Combined with K-line skills, wait for the expected price level and open positions in batches. Long-term investors should remain patient in the face of short-term corrections and look at investments from a long-term perspective.
2. Patience in learning and research
When encountering learning bottlenecks, patiently ask questions, organize, summarize and reflect. Once bottlenecks are overcome, deeper knowledge and understanding will be gained.
3. Be patient with the market and others
Give yourself, others and the market enough time and space. Stay patient and you will eventually reap the rewards of growth.
If the market is bullish, you still don’t know what to do. If you blindly follow the trend every day, you won’t be able to hold on to the spot.
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