Provide some practical and useful advice for those who are new to the cryptocurrency world!

1. Each time you enter the market to buy or sell, the loss should not exceed one-tenth of your funds.
This way, even if you are wrong each time, you still have 10 chances to play.
2. Always set a stop-loss level to reduce potential losses caused by mistakes in buying and selling.
3. Never trade excessively.
The trading frequency must be low, ideally reduced to 1-2 times a week. Newcomers who want to practice can use simulated funds for training or accumulate experience with a very small amount of capital, but for regular accounts, it is essential to wait for the right opportunity. Trading opportunities are actually quite rare.
4. Never let your positions turn from profit to loss.
Many people feel particularly regretful when their profitable trades turn into losses. How can we prevent profitable trades from becoming losses? It's simple: when you have a certain percentage of profit, you must set a stop-loss to protect your capital. For example, if you buy at 10 and it rises to 13, you can set your stop-loss at 10 or 11, so that even if the market reverses, your capital is protected from loss.
5. Never go against the market. When the market trend is not clear, it is better to observe from the sidelines.
Not going against the trend means going with the trend. This trend can be defined differently by each individual, depending on their trading cycle and reference indicators. Some may use the 20-day moving average on the daily chart, while others may refer to the 60 moving average on the hourly chart; it varies from person to person. Only when the direction is clear should one enter a trade, as this will significantly reduce the chances of mistakes.
6. If in doubt, close the position and exit. Be resolute when entering the market, and do not enter when hesitating.
This is something you have to comprehend on your own. Because whether you can hold onto a position greatly depends on your confidence and trading psychology. If you can't sleep at night holding a position, it's better not to trade.
7. Only trade in active markets. It is not advisable to operate when trading is light.
8. Never set target price levels for entering or exiting the market; avoid limit orders and only follow market trends.
9. If there are no valid reasons, and you do not close your position, you can use the take-profit level to secure the profits obtained.
10. Do not guess the peak. Take profit in batches, using a profit-taking method such as the inverted pyramid; you can give it a try.
11. After achieving continuous victories in the market, a portion of the profits can be extracted for urgent needs.
12. Do not enter the market out of impatience, nor should you close your position out of impatience. Avoid emotional trading.
13. The stop-loss level set when entering the market should not be randomly canceled.
14. Trade long and short freely; one should not only take a one-sided position. Do not hold onto obsessions; respect the market. Reality is the most important.
15. Never hedge. If a position incurs a loss, cut your losses! Do not lock positions; it’s a big taboo. 🅱️iya is the world's first multi-asset trading wallet, which allows users to easily exchange mainstream fiat currency for digital currency in real-time. It also provides a safe and convenient withdrawal solution, effectively addressing freezing and capital withdrawal issues. Users can easily convert to cash and withdraw through the U platform.
16. Try to avoid pyramid schemes at inappropriate times.
There is not too deep an understanding. Pyramid adding is best to wait until the trend is clearer; it is not advisable to increase positions during market fluctuations.
17. Avoid making arbitrary changes to trading strategies without proper justification.
What constitutes a good reason? I don’t know! Trading strategies must be established in advance, such as entry signals, stop losses, position sizing, exit signals, etc. Once established, they should not be easily changed due to severe market fluctuations.