Nine Major Rules for Ordinary People to Turn the Tables
1. Living is more important than anything else
In the cryptocurrency world, there's a bull market every three days and a bear market every five days. The important thing is that after each crisis, you are still alive; being alive means you have a chance!
2. Compound interest is the eighth wonder of the world
Don't always think about getting rich overnight; earning 1% every day means 38 times in a year. Stable compound interest is the secret to lasting wealth!
3. Always leave a backup
Always keep 20% cash in your account; when the bear market comes, you will be the king. No matter how high the leverage, cash flow is more important!
4. Emotions are the biggest enemy
Do you chase when there's a surge? Cut losses during a drop? Emotional trading is the root of losses. Learn to be the master of your emotions, not a slave!
5. Cognition determines the upper limit of profits
In the same market, some earn 10 times while others lose 80%; the difference lies in cognition. Improve your understanding, and profits will naturally follow!
6. Diversify but don’t dilute your focus
Allocating across multiple cryptocurrencies reduces risk, but focus on studying 3-5 coins. Casting a wide net is not as effective as digging deep!
7. Learn to stay out of the market and rest
If you don't understand the market, stay out; resting is not giving up, it's waiting for a better opportunity. Don't trade just for the sake of trading!
8. Regularly summarize and improve
Review your trading records weekly; identify problems and make improvements. Continuously iterate your trading system to keep doing better!
9. Contentment is true wisdom
Stop when you reach your target; being not greedy will lead to longevity. The cryptocurrency world has many temptations; being content is the key to lasting happiness!
Iron rules for survival in the cryptocurrency world:
• Protecting principal is the primary goal
• Stable profits are more important than high profits
• Long-term survival is the ultimate victory
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