Ten years of trading cryptocurrencies to support the family, experiences summarized!
1. Losing money without cutting losses and failing to hold onto profits is a common issue among most retail investors.
2. In investing, the most important thing is four words: go with the trend. Shorting during a pullback in an uptrend is self-destructive, and adding leverage is a fancy way of self-destruction.
3. The market direction is the result of the collective expectations of all participants; do not impose your own will on the market.
4. Win rate is not important at all; the profitability of a trading system has nothing to do with its opening win rate. Don’t be envious of others making a few points; you don’t know they are losing money. Patiently wait for your own opportunity.
5. Not every upward candle in the market means you can profit.
6. Opportunities are waited for; good hunters are not impatient. In a volatile market, no one can make big money.
7. In the secondary market, there are not only "buying" operations; closing positions, reducing positions, and holding no positions are also operations.
8. For a retail investor with a few million in funds, there aren’t so many "main forces" or "phantom enemies" in the market. Your biggest enemies are your own greed and fear.
9. The secondary market is never short of stars; what it lacks are long-lasting participants.
10. Seventy percent of people in the market lose money; really, there aren’t that many experts.
11. Maintain rationality, respect the market; in front of the market, everyone is chives. A careful approach leads to long-lasting success; sudden wealth matters little to me.
12. Some trades, even if they lose, are right; some trades, even if they profit, are wrong.
13. Focus on risk control much more than on returns.
14. Don’t get emotionally attached to your holdings; significant losses often come when you are overconfident. The trades that make us lose the most money may be the ones we are most confident in.
15. Each of the above points is very difficult to achieve and requires long-term practice. There is a long, long way to go between knowing and doing.
Sharing my daily trading routine, $XRP seems quite stable at the moment. There are expectations for ETF speculation ahead, current price at 2.3, I personally think this position is quite good. If you have no goal, you can consider entering a position. If you are alone and have no guidance, and don’t know what to do now, you can follow me, 一起布局
