Iron rules for trading coins

First, for those coins with complex situations that you cannot clearly see, do not rush in. Pick the soft fruit first; trading coins is the same.

Second, do not put all your money into the same coin at once, even if you are very optimistic about it, and even if it later proves you right, do not buy it all at once. Because the situation can change suddenly, no one knows what will happen tomorrow.

source

Third, if you mistakenly buy a coin in a downward trend, you must sell quickly to avoid further losses. Fourth, if the coin you bought is currently not at a loss but has already entered a downward channel, you should exit and observe quickly.

Fifth, for coins that are not in an upward channel, it is recommended to pay less attention. No matter what happens in the future, do not accompany the main force to build positions. Retail investors don't have time to waste with them.

Sixth, do not fantasize about making money while constantly trading short. Frequent entries and exits may bring you excitement but will cause you to lose a lot of money, with only the exchanges benefitting. You won't have that high level; you are not the market maker. Do not buy too many coins; it’s best not to exceed. You don’t have the energy to watch them all. It's like wanting to marry five wives; even if you are capable, you cannot satisfy all of them. The story of Wei Xiaobao only happens in novels.

Seventh, just because this coin is cheap, having dropped a lot, is not a reason for you to buy it. It could still get even cheaper.

Eighth, just because this coin is expensive and has risen a lot does not mean you should refuse to buy or sell it. It could rise even higher!