I am 32 years old this year, and I started trading cryptocurrencies at 22. By 2023-2024, my funds reached eight digits. My lifestyle now requires me to stay at high-end hotels costing around 2000 yuan, and my suitcase and hat may carry crypto symbols. It's much more comfortable than what the older generation experienced in real industries or the 80s in e-commerce. I have hardly ever dealt with troublesome business negotiations, so I have fewer worries.
I have the patience to summarize my insights; the most important thing in trading cryptocurrencies is having a good mindset, while technology is secondary.
Without reviewing the currency, even having a mountain of gold is in vain. While there is time, I share these six principles; only by understanding them can one trade cryptocurrencies to support a family!
Recent market changes are unpredictable, many opportunities are fleeting. 'When soldiers come, block them; when water comes, store soil' is a quality that a qualified crypto enthusiast should have. With 6 years of experience in trading cryptocurrencies, I have summarized six iron laws of the crypto world to share with everyone!
The only enemy on the path of trading cryptocurrencies is oneself. Investing is actually a highly demanding industry, but you only need a phone/computer, a phone number, and an ID to enter the CEX cryptocurrency trading market. However, this does not mean you can make money. The cryptocurrency market is ultimately composed of people, and human greed, anger, ignorance, arrogance, and doubt are all vividly expressed here.
1. Rapid rises and slow falls indicate accumulation.
A rapid rise followed by a slow decline indicates that the operators are accumulating chips, preparing for the next round of increases.
2. Rapid falls and slow rises indicate distribution.
A rapid decline followed by a slow rise means that the operators are gradually selling off, and the market is about to enter a downward cycle.
3. Do not sell when there is high volume at the top; if there is no volume at the top, get out quickly.
High transaction volume at the top may indicate further increases; however, if the transaction volume at the top shrinks, it indicates insufficient upward momentum, and one should exit as soon as possible.
4. Do not buy when there is volume at the bottom; you can buy when there is continuous volume.
Volume at the bottom may indicate a continuation of the decline and needs observation; continuous volume indicates that funds are constantly entering, and buying may be considered.
5. Trading cryptocurrencies is about trading emotions; consensus equals transaction volume.
Market sentiment determines cryptocurrency price fluctuations, and transaction volume reflects market consensus and investor behavior!
6. Nothing equals everything.
Follow the orange east closely, analyze with precise strategies, and use millions in AI big data to carefully select, allowing yourself to stand undefeated? The market has never lacked opportunities; the question is whether you can seize them. By following experienced people and the right people, we can earn more!
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