Scrolling through to see the Eastern Lao compatriots lamenting about the market and various things, each person has their own style.
But personally, I have my own thoughts:
- Firstly, financial knowledge when participating in the market, has everyone learned it somewhere or just entered the market listening to some KOL or team and then followed the news to act, then it would be like a fish lying on the chopping board, not knowing when it will be cut.
- Secondly, when entering the Crypto market, it is essential to understand that it fluctuates much more than other markets and the level of risk is extremely high, so understanding the game and how to play it means investing with a capital that you can afford to lose without affecting your life too much.
- Thirdly, after many years of participating in financial markets ranging from traditional, stocks, Forex, indices, gold, to Crypto, all have a fairly correlated cycle influenced by events such as epidemics, policies, tariffs, and inflationary decisions that generally affect both directly and indirectly on the global financial market, and crypto is no exception because now the Crypto market resembles technology stocks more than traditional companies outside. Technology has many applications in life, but many do not apply, so it does not resolve anything, thus investing in it does not benefit much for future holdings!
- Fourthly, understanding which phase the market cycle is in: accumulation, growth, or distribution to be able to devise short-term, medium-term, and long-term investment plans. Properly dividing capital and managing risk even when prices drop.
- Fifthly, managing emotions and having a reasonable strategy is the method to maximize profits for each cycle.