Dear currency friends, good evening:

The cryptocurrency trading is a long-term plan, not an overnight thing, so don't be too impatient. Even if there is a short-term loss, there is nothing to be afraid of. As long as the subsequent direction is chosen correctly, what is lost will eventually return. However, it is important to grasp the timing of trading and the current market trends, so as to increase the winning rate. At the same time, investment is also a process of growth. Mr. Coin suggests that all coin friends should learn while operating, summarize themselves in a timely manner for both profits and losses, deepen their understanding of risks, and plan with the correct mindset, so as to reasonably avoid risks and become a qualified investor.
When we choose the cryptocurrency market, it means we are entering a high-risk, high-return investment market. For some novice friends or friends who do not know enough about the cryptocurrency market, Lao Jin suggests to do less and learn more to accumulate experience. At the same time, we must correctly identify the risks in the cryptocurrency market and control ourselves when we should not be greedy. To become a mature investor, we must understand that risk and return coexist in the market. If we want to increase our income, we must learn risk control.

In theory, as long as it is an investment, there will be risks. Investment is actually a risk decision. You must formulate corresponding risk control strategies based on your actual risk tolerance. You must never blindly invest or let a failed operation defeat you, so that you have no opportunity for investment or speculation. Mr. Buffett has a classic saying about risk control: 'There are three secrets to success: first, try to avoid risks and protect the principal; second, try to avoid risks and protect the principal; third, firmly remember the first and second principles.'
To improve the ability to control valve risk, Lao Jin suggests the following points:
First: Have the ability to reasonably avoid risks
In the cryptocurrency market, risks are everywhere. If investors want to avoid risks, they just need to remember the saying "a wise man does not stand under a dangerous wall", which means learning to use stop-loss and take-profit orders. Literally, it means protecting profits while reducing losses, so that one's earnings can successfully become capital. If investors do not have the ability to protect their capital after earning profits, the part of the profits that could have been turned into capital may also be lost. Therefore, timely stop-loss and take-profit orders can help manage risks in the cryptocurrency market. Note that experience and judgement are required for using stop-loss and take-profit orders.
Secondly: Financial Management Capability
The cryptocurrency market is a battlefield without gunpowder. The reasonable use of funds is like deploying troops, which can lead to victory. Good fund management allows us to maximize profits with minimal losses. However, this requires a clear understanding and analysis of the current trend. Otherwise, entering the market hastily carries certain risks. It is generally recommended to start with a 10%-20% position, and subsequently enter with a 5% position.
Third: Improve the ability to obtain income
1. Establish a trading system that suits your own operating style, avoiding being confused by intraday fluctuations and losing rationality. At the same time, the trading system can help us formulate a trading plan for each transaction from selecting coins to buying and selling, thus avoiding losses caused by impulsive operations.
2. Continuously summarize your own periodic gains and losses, while learning from others' valuable experiences. After all, only by summarizing can there be improvement, and borrowing from others' experiences can make oneself grow better.
3. Controlling risk must be the top priority, as emphasized by Laojin at the end of each article. Because profit and loss are normal in trading, risk management is the first step. After all, investment is a long-term matter. Only by 'striving for invincibility first, then seeking victory' can one succeed in the cryptocurrency market in the long run.
Old Jin's message:
The recent cryptocurrency market can be described as turbulent, with prices rising and falling dramatically and changing rapidly. Therefore, it is important to manage risks, set stop-loss and take-profit levels, and focus on your own rational planning in order to share the risks. Pay attention to your operations in normal times in order to avoid mistakes in major market movements and unnecessary losses. If there are any areas that are still unclear or if you are still in a situation of loss, you can seek advice from the author. Whether it is accumulating profits during oscillations or expanding profits in long and short volume, Qiwenge Laojin will provide you with comprehensive analysis and guidance.