The First Piece of Advice
The cryptocurrency market has already passed the period of wild speculation, and the next phase is the formal financialization stage, where capital institutions compete. Don't dream of creating a coin that multiplies by dozens or hundreds of times; given the current market sentiment, coins that can increase tenfold are rare. Even if a real bull market comes, there won't be many coins that can increase more than tenfold.
The Second Piece of Advice
Investing in the primary market can indeed yield high returns with small investments, but those who recommend you play in the primary market will not tell you that 99% of projects will go to zero. Even if they are listed on some small exchanges and some KOLs are offloading their holdings, they are likely to tell you to hold on while they exit first.
The Third Piece of Advice
Playing contracts with full leverage can earn a lot of money, but it can also lead to significant losses. I doubt anyone will tell you that the essence of trading is in rolling over positions, rather than how much profit you made on a single trade.
The Fourth Piece of Advice
If you are a university student, prioritize your studies and treat cryptocurrency trading as a secondary activity. If you are a young person under 25, focus on self-improvement first, with trading as a supplement. If you are under 30, prioritize choosing a stable source of income, with trading as a secondary activity. Trading is a tough battle, not something that can be mastered overnight. Furthermore, trading is a time-consuming journey. Even exceptionally talented traders need to spend five years to achieve financial freedom. Having strong off-exchange earning capabilities and a platform that provides ongoing funding can significantly enhance our chances of success.
The Fifth Piece of Advice
Don't place too much trust in those who share their trading profits; they may only have gained from a single position while many of their other investments are losing. They are likely trying to gain your trust to achieve their own goals.
The Sixth Piece of Advice
Most people who trade contracts will eventually end up with nothing, and the accuracy of this statement is as high as 99%. Don’t doubt it, because human desire is limitless. Very few people can truly overcome their gambling instincts and execute each trade rationally. If you trade a hundred times and lose control once, all previous profits and capital will vanish.
The Seventh Piece of Advice
You should follow bloggers who share their experiences rather than those who brainwash, promote, or post about profits. Think about what you can learn from following them.
The Eighth Piece of Advice
Engage with some veteran traders in the cryptocurrency space, even if they have been trading for years and are still at a loss. By spending time with them, you can discover the reasons for your own losses and find ways to avoid the pitfalls they encountered.