So, please keep in mind the following 10 iron rules. The content is not much, but every sentence is packed with valuable insights. Share it with those who are destined to receive it! Trading cryptocurrencies has never been something that can be succeeded at casually. Every trader experiences countless setbacks from the moment they enter the crypto world. Some are knocked down, while others manage to stand up again. The difference lies in whether one can transform the hardships faced into nourishment for personal growth. Everyone goes through experiences, but not everyone is good at reflecting and summarizing.
1: Capital safety comes first. If you lose all your capital, you will never have a chance to turn things around. It’s better to earn less than to risk losing your principal. Always leave some room for maneuvering.
2: Do not trade frequently. Making the right call on a few major trends throughout the year is enough. Greed can lead to significant losses!
3: Control your emotions: 99% of people lose to human nature. Fear and greed are the greatest enemies. The stronger the market rises, the more people want to buy; the worse it falls, the more they want to sell. But true experts do the opposite.
4: In a bull market, dare to make profits; in a bear market, dare to lay low (dollar-cost averaging). In a bull market, be willing to sell; don’t always think about making that last bit of profit. In a bear market, be willing to refrain from trading; do not let market fluctuations force you out.
5: The layout cycle is more important than short-term predictions. If you only want to do short-term trades, you will constantly be influenced by market emotions. But if you can extend your cycles and focus on layouts, you will find that market cycles are more regular than short-term ups and downs.
6: Mainstream assets are the cornerstone of long-term wealth. Bitcoin and Ethereum have already undergone multiple rounds of bull and bear tests. Holding them long-term is more stable than short-term trading returns.
7: Investing in yourself is more important than investing in cryptocurrencies. The market is always changing, and past experiences may not be applicable to the future. Continuously learning new knowledge is essential for surviving longer in the market.
8: Do not touch unfamiliar coins. Focus on the fields you are familiar with to ensure a stable victory!
9: When most people are optimistic, it is often when risks arise. Remember this and don’t let yourself become the one left holding the bag!
10: Making money in cryptocurrency trading is not due to luck, but because you are more patient, understand the market better, and can control your emotions. The true 'wealth-building secret for the lower class' is not about becoming rich in one go, but about enduring long enough to become wealthy when the bull market arrives.