Mikemiky001
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What are 10 things for new investors to speculate on coins?

Thu May 13, 2021 4:08 am

Ten Things for Green Hand to Speculate on Coins

As the green hand in cryptocurrency, one had to learn for himself correctly on the first of the investment field. After knowing the market trend, you can find your own suitable position in order to survive in this market for a long time. As a beginner, there are indeed many things worth noting.

1. Don't play contracts, don't touch high leverage.

Leverage comes with natural temptation and increase the trade risks when it takes high profits, such as the one hundred times contracts, and even some exchanges zoom in to a thousand times. Trading extremes under this leverage

It is prone to the risk of liquidation, and ultimately there is nothing left.

2. Choose the suitable platform and products.

The first thing to enter one new pried is to choose a platform. Many new investors only trust for 3 exchanges. This choice can’t be said to be bad, but it’ s too narrow. It’ s not as safe as the three big ones. The more people there are, the more complicated it is. At the beginning, Ouyi almost went bankrupt. Binance and Huobi also often stuck pins and crashed, and problems continued. The platform has been in operation for three years, and the product line continues to be updated. This kind of platform is basically risk-free, because the time inspection period is long and the manpower, material and financial resources have been invested in product maintenance, which is a real work.

However, BitOffer is such a product-focused exchange. Among them, ETF funds are very suitable for novice operations, with three times leverage, but the position share is calculated based on the net value, so the position will never be liquidated, and it can be referred to as the leveraged spot that does not liquidate. This kind of spot fund also has a compound interest mechanism.

Like the previous DOGE spot rose 10 times, the ETF fund rose 130 times; the ETC spot rose 6 times a week, and the corresponding ETF fund rose 150 times directly. This is the advantage of compound interest for spot funds, and ETF funds can also trade long and short positions more flexibly than spot funds. Non-forced settlement and compound interest are safer than contracts.

3. Strictly stop loss and profit, and refuse to carry orders.

As a newcomer, you should develop good trading habits in trading, strictly implement your own trading strategy, not be greedy, not panic, remember not to carry orders, losses cannot be killed, make money and want to run immediately, this is a very bad trading mentality .

4. Develop the habit of replaying and learn to reflect and summarize.

New investors should learn to reflect on the record of daily trading orders, review the trend of the day, learn how to grasp good entry and exit points, compare trends and strategies to gradually improve and deepen.

5. Pay attention to safe deposits and withdrawals.

At present, there are still hidden dangers after the rectification of the OTC market, and there will always be unknown funds entering the market. At this time, it is necessary for newcomers to be safe-conscious to avoid unnecessary troubles. Choose Blue Shield merchants for deposits and withdrawals. The merchants have been registered for more than 2 years, and the number of historical transactions is at least 10,000. The merchants are currently active. Do not transact with merchants from unknown sources.

6. Trading currencies must be rigorous.

Newcomers suggest to do mainstream currencies, and to play less altcoins and small currencies. The volatility is too large and it is not stable. It is better to focus on Bitcoin and Ethereum, and follow the core funds in the market. This is both stable and reliable.

7. Keep in mind the security of assets.

The security verification of the registered account must be completed, and you must not be lazy, especially the Google verification and wallet mnemonics, which must be kept well to avoid the loss of your own assets.

8. Establish a trading strategy and don't trust others.

The market needs to adapt its own trading strategies and styles. It must have its own ideas and operating ideas. You can refer to the strategy and market prejudgment of the big V, but you must not believe it. The market has many teachers. Among them, most of them are mixed, and most of them are half a cat. Don't overestimate. Don't underestimate yourself.

9. Pay attention to the actual facts of the currency circle in time.

The news of the currency circle has a great influence. As a T+0 market, any turbulent situation will give a timely response. Following news can be widely known and increase your attention and understanding of market hotspots.

10. Rational allocation of assets.

The so-called eggs should not be put in one basket. Not only do you have to register multiple exchanges, separate assets, but also allocate assets diversified, and make reasonable allocation of spot and wealth management, so that you can leave yourself some retreat for emergencies.

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