Today I’m in a good mood, so I’m sharing these precious nuggets with you. Remember to keep them safe!
In the cryptocurrency market, ultimately, to survive and make money, you need to work hard to improve your understanding. This is the only way.
In our ordinary lives, at a time when we are not familiar with work, we must choose a profession; at a time when we are not familiar with society, we must choose a job; and in situations where we are not familiar with family, we must choose a partner. Even without decision-making ability, we or our parents have made life-changing decisions.
Parents are the starting point of a person's life. Life is filled with countless crossroads, and at key junctions, if there are no benefactors to guide us, one wrong step can lead to many wrong steps.
I have spent many years in the cryptocurrency market, summarizing several classic sayings, hoping to help both new and experienced investors.
First, do not hold onto losing trades; the profits you carry back will eventually be given back to the market because of that.
Second, do not guess tops and bottoms, as profits gained from guessing will eventually be given back to the market.
Third, do not guess tops and bottoms, as you might still be halfway up the mountain.
Fourth, do not rely heavily on news, as this is just guessing tops and bottoms.
Fifth, do not easily exit when you are in profit, as you might be running away halfway up the mountain.
Sixth, do not get excited when seeing large red or green candles, as they might just be a show put on by the market makers for retail investors.
Seventh, do not think that the market you see is the last wave; as long as your capital is still there, there will always be opportunities in the market.
Eighth, do not trade frequently; not only will it lead you astray from the big direction and increase the chances of making mistakes, but it will also increase trading costs, which is not worth it.
Ninth, do not take contrarian positions; if you are right, hold on firmly; if you are wrong, run quickly.
Tenth, do not buy just because the price is low, and do not sell just because the price is high; if the trend has not changed, do not act rashly.
Eleventh, do not treat trading as a main job; do not stare at the market. The time spent staring at the market is inversely proportional to profit.
Twelfth, do not easily trust the opinions of others; ultimately, you are the one you can trust the most.
Thirteenth, do not make big mistakes. Missing an opportunity is not a big mistake; making a mistake is not a big mistake as long as you set a stop-loss. Only high-leverage trades that lead to ultimate liquidation are considered big mistakes. No matter how many times you have been right before, if you make one big mistake, all previous wins become zero, and compound interest will be interrupted.
Fourteenth, to gain something in the cryptocurrency market, you must stay away from those who consume your attention, as the proportion of such people is higher among women. Spending all day chatting with such individuals will waste your time and energy, and in the end, you will gain nothing.
Fifteenth, if you do not have enough understanding, even if you follow others, you will not be able to make money, as countless facts have proven that the rapid changes in the cryptocurrency market are difficult to keep up with.
After experiencing the ups and downs of the cryptocurrency market for several years, I personally feel that the cryptocurrency market is an emerging market that has passed the head profit period, but compared to mature investment markets, the profitability is still much higher. Retail investors should work harder, read more, learn more, think more, and reflect on their experiences to increase their chances of profit.
The profit period of the cryptocurrency market may be over compared to the past, but there are still many opportunities to make money. Later entrants in the cryptocurrency market need great awareness, mindset, and luck.
Today's retail investors can learn from others to improve themselves, but it is impossible to rely entirely on others to make money without thinking. You can follow others, learn from those you think are better than you, understand their strengths, and grasp their speculative thinking. However, if you want to follow completely without learning, this path is not viable in any trading market.
In the current cryptocurrency market, to survive long-term, mindset must be prioritized, and you need to continually summarize and organize your experiences and failures to find your own path; effective implementation will yield twice the result with half the effort. Success = 50% mindset + 30% experience and effective methods + 20% personal effort and opportunity.
First, the mindset when entering the market.
Treat earnings with a calm mindset. Simply put, don’t worry too much about gains and losses. Let the past be the past, and let the future come quickly! Take good care of yourself, sharpen your skills, and be ready to set off at any time. Objectively and rationally observe the results of your trading methods, while effectively reducing the losses caused by your mindset in each trade.
In trading, be bold yet meticulous. After determining the major trend, decisively take action when opportunities arise, leveraging your strengths. Do not pay attention to the surrounding noise; just focus on yourself, ensure your wallet is profitable, and exit the profitable trades. Data can sometimes say it all. However, this requires experience, understanding of trends, K-line judgments, and arrangements for entry and exit points, all of which reveal your maturity.
When the market comes, maintain a pressure-resistant mindset. The cryptocurrency market is a high-risk, high-reward market, with daily price fluctuations and often occurrences of halving or doubling, so before a major market event arrives, always maintain rational analysis and do not be influenced by the market; otherwise, the risks will definitely outweigh the opportunities.
Second, matters to pay attention to.
In daily life, investors with a calm and steady mindset have a higher success rate than other investors, especially during the last bull market, where this type of investor clearly had a much higher win rate compared to those keen on speculation. The fundamental reason is that they can control themselves well with a calm mindset, rationally analyzing before facing returns beyond their capabilities, not forgetting the original intention of setting profit-taking points, controlling the emotions brought by greed, and not getting lost in the market. This is something we should learn from.
There are also some investors with extreme thoughts, who hold onto one trade hoping for huge profits but refuse to set stop-losses. Their belief does not allow them to incur losses, thinking there is only one trade. However, they do not know that there are no constant winners in the market; no one can maintain a 100% win rate. They only see the amount of profit without recognizing the existence of risk, and the final outcome is often predictable. To maintain long-term development in a market, the simplest and most effective method is to continually correct mistakes and improve oneself. Behind every successful person lies persistence. The cryptocurrency market is like a battlefield; only those who understand self-discovery and reflection can survive in this market.
Finally, when entering the cryptocurrency market, you must have a risk awareness. As mentioned earlier, no one can have a 100% win rate. Before entering the market, always control your risks and prepare for the worst outcomes. Through controlling these risks, we may have the possibility to profit and exit from the market; otherwise, everything will be attributed to luck, and you may lose everything without any way to recover.
In summary, the trading principles of the cryptocurrency market are relatively simple, but greed is inevitable during the process; without constraints, disasters may follow. Successful investment leads to wealth accumulation, while poor investment results in personal financial distribution. Some people gain wealth through correct operations, while others offer their wealth willingly.
Before the market rises or falls, the thought process changes in an instant. Trading is sometimes like a train; once you miss it, do not think about chasing it. Patiently wait for the next train to arrive, and following a step-by-step approach will definitely be easier than blindly entering the market. Sometimes good results are worth our effort.
Follow the public account here, pierce through the fog of information, discover the real market, seize opportunities, and find truly valuable opportunities. Don't miss out and regret later.