1, do not leverage trading contracts, or you will ruin your life. Accumulate some mainstream coins or set up some mainstream coin mining machines, hold them long-term, and do not always think about getting rich overnight; if you hold onto this idea, you are likely to end up in massive debt overnight.
2, in the crypto space, IQ is a good thing, but it’s not very useful. You need to have sufficient understanding of this circle, experience, and vision. This circle is where high-cognition people earn money from low-cognition people; no matter how high your IQ, without higher cognition, you will still be the one getting cut.
3, do not firmly believe in candlestick charts. Your real opponents are the top institutions and elite talents that have entered from Wall Street, all of whom are professional chart analysts with powerful trading data and computer assistance. You, having only read a few books on candlesticks and understanding a bit about them, cannot compete with them; they may set traps for you based on candlestick charts.
4, in the real world, you can accept others' kind reminders, but in the crypto space, never ask for them! Because from the perspective of most of us, there is no such thing as receiving insider information.
5, do not listen too much to the so-called opinions of teachers in the circle, as opinions are neither right nor wrong. They merely find reasons to explain events that have already happened, lacking substance and assistance. Look for articles that combine data + experience + logic + common sense + patterns, as those have the potential for hundredfold profits.
6, whether it's buying large market cap mainstream coins or small but widely recognized niche altcoins, it's not about buying unconditionally. If the price has risen too much or enters a bear market, even the best coins will still fall. Therefore, traders should follow the trend, buying into large market cap coins with consensus when fear grips the market and no one dares to enter, rather than buying wildly when prices are high! Only those who have awareness but lack courage won't make money in this market. For example, the events of May 19 were a great testing ground.
7, stay away from garbage coins that lack real blockchain technology support, purely speculative coins; if you want to touch them, be prepared for them to go to zero.
8, cultivate the habit of independent thinking. Do not blindly follow trends; avoid herd mentality and group effects, as this is often when the market makers are sharpening their knives to harvest retail investors.
9, the crypto market is like a casino; everyone just has different probabilities of winning. Short-term speculation is like gambling on high or low, relying on luck. In the long run, you will definitely lose because exchanges take a cut on trades; only the exchanges, acting as the house, will make money without loss. Long-term investment is about betting on the blockchain revolution, betting that the technology behind this coin can be practically applied, or betting that this coin can last longer. If you participate early and sell at a high point, you are on the winning side. During the betting process, we should focus on coins that best represent the essence of blockchain, such as BTC, ETH, and FIL, as this increases your chances of winning.
10, if you want to make money in the crypto space, you must have a big vision, stand tall, look far, hold coins recognized by most people, and firmly believe in them. Only by holding them long-term can you gain more wealth.
I hope this helps you in the crypto space.
The dumbest cryptocurrency trading method allows you to maintain 'ever profit', rolling positions for 4 months to achieve a 400-fold return! Aim for 40 million! [Worth collecting]
If you plan to invest in the crypto space, please take a few minutes to read this answer from the madman word for word, as it may save your life and your family.
Thousands of originally happy families ultimately suffer from financial ruin because of pursuing the unattainable dream of getting rich in the crypto space. I believe that if I really want to pursue trading, I still need to study diligently. Besides understanding the basics, I should also analyze news and study technical indicators.
If you do not conduct in-depth research and reasonably plan your finances, your funds will only be depleted over time. In the end, as a rootless retail investor, you will only joyfully enter the market and then exit in disappointment. Some well-known technical indicators have persisted over time for a reason.
For example, signals of divergence in MACD, overbought and oversold signals in KDJ, support and resistance signals, etc. While they cannot guarantee profits, they allow you to quantitatively analyze within a relatively mature pattern, providing investors with a basic direction.
In the crypto space, going from 100,000 to 1 million in capital has only one route, and that is rolling positions.
Once you have a capital of 1 million, you will find that your life seems completely different. Even if you don't use leverage, a 20% increase in spot trading would yield 200,000, which is already the ceiling of annual income for the vast majority of people. Moreover, when you can grow several tens of thousands to 1 million, you will grasp some ideas and logic for making big money. At this point, your mindset will calm down a lot, and from then on, it's just about copying and pasting. Don't always think about tens of millions; you have to start from your actual situation. Bragging only makes the bull feel comfortable.
Trading requires the ability to identify the size of opportunities; you cannot always trade lightly or heavily. Usually, play with small positions, and when a big opportunity comes, then you can bring out the big guns. For example, rolling positions can only be operated when a big opportunity arises; you can't always roll. Missing out is okay because you only need to roll successfully three or four times in your life to go from 0 to over 10 million, which is enough for an ordinary person to enter the ranks of the wealthy.
