In the crypto world, a day equals ten years of life
It's been nearly seven years since I entered the crypto world. At the beginning, I lost a lot, then I had both gains and losses along the way, and now I rely on crypto to support my family. I’ve summarized some experiences to share with everyone, hoping it helps you. As long as you follow these, it will be hard to incur losses.
1. When the market crashes but the coin doesn’t drop, it indicates that there are market makers protecting the price: you must hold onto such coins; there will definitely be profits ahead!
2. For beginners trading, remember the macro information: for short-term, look at the 15-minute and daily charts; hold onto the price as long as it stays above the line, and run if it breaks below. For medium-term, keep an eye on the daily chart; the operation is simple and straightforward, don’t be superstitious about fancy technical indicators!
3. If a short-term coin hasn’t moved for three days, quickly replace it: if it drops after buying, cut losses at 5%, don’t drag it out!
4. If a coin has halved from its high and then dropped for nine consecutive days: this indicates it has dropped enough, a rebound is near, so decisively get in!
5. When trading coins, follow the leaders: the one that rises the most is it, and the one that resists falling is also it. Don’t be afraid of high prices, don’t catch falling knives; leading coins should be chased for their ups and downs!
6. Don’t always think about bottom-fishing: falling coins are like jumping off a building, with no bottom! If you need to cut losses, then do so; the trend is the key. Buying coins is not about getting them cheaper, but about seizing the right timing as the best choice.
7. Have you gotten a bit of profit and feel on top of the world? Be careful not to fall into a trap: earning once is easy, but the difficulty lies in continuous profits. After each profit, reflect on whether it was your excellent operation or just good luck. Have your own trading strategy to move forward steadily!
8. If you lack confidence, stay in cash: being in cash is not shameful, losing money is what is shameful. Remember, you are here to preserve your capital, not to be a gambling god. Trading is about success rates and profit-loss ratios, not speed.
9. Inflows of capital into new coins: initially, prices may rise due to market hype. But once sentiment changes, coins lacking solid fundamentals will plummet quickly.
10. The crypto world is powered by consensus: the value of a coin comes from the consensus mechanism, backed by a group of like-minded people. Everyone pushes the project together, resulting in wealth acquisition. Ten years in the crypto world, a day in life!