I am 32 years old this year, started trading cryptocurrency at 22, and by 2023-2024, my funds reached eight figures. My current lifestyle includes staying at high-end hotels costing around 2000 yuan, with luggage and hats possibly featuring cryptocurrency symbols. This is much more comfortable than what the older generation experienced in real estate or the 80s generation in e-commerce. I have hardly experienced business disputes, with few worries.
I have the patience to summarize my insights. The most important thing in cryptocurrency trading is a good mindset; techniques are secondary.
Without reviewing coins, even if there are mountains of gold, it is in vain. While there is still time, I will share six laws with everyone; only by understanding can one trade cryptocurrency to support the family!
Recent market changes are unpredictable, and many opportunities are fleeting. 'When troops arrive, generals block; when water comes, soil gathers' is the quality a competent cryptocurrency trader should possess. With six years of cryptocurrency trading experience, I have summarized six iron rules of the cryptocurrency world to share with everyone!
The only enemy on the road of cryptocurrency trading is oneself. Investing is actually a high-threshold industry, but you only need a mobile phone/computer, a phone number, and an ID card to enter the CEX cryptocurrency trading market. However, this does not mean you can make money. The cryptocurrency market is ultimately made up of people, and human greed, anger, ignorance, sloth, and doubt are all vividly displayed here.
1. Rapid rise and slow fall indicate accumulation.
Rapid rise but slow decline indicates that the dealer is accumulating chips, preparing for the next round of increases.
2. Fast decline and slow rise indicate unloading.
Rapid decline but slow rise means that the dealer is gradually selling off, and the market is about to enter a declining cycle.
3. Do not sell during volume increase at the top; if there is no volume at the top, run quickly.
High trading volume at the top may continue to rise; but if trading volume at the top shrinks, it indicates insufficient upward momentum, and one should exit quickly.
4. Do not buy during volume increase at the bottom; continuous volume increase can be bought.
Volume increase at the bottom may be a continuation of decline, requiring observation; continuous volume increase indicates ongoing capital inflow, and buying can be considered.
5. Trading cryptocurrency is trading emotions; consensus is trading volume.
Market sentiment determines cryptocurrency price fluctuations, and trading volume reflects market consensus and investor behavior!
6. Zero equals everything.
