Before you trade in cryptocurrencies, first make it clear whether you are investing or speculating. You often see people in various groups saying that some coin is rising and you are going to get on board. How much money have you made today? You will not make money trading in cryptocurrencies this way.
When the market is good, you are excited. When the market falls, you are 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 coin friends have asked how this coin is? Can I buy it? In fact, when you ask, you should first ask yourself 3 questions. 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 two steps: buying and selling.
