Want to make a name for yourself in the crypto world? Remember these 9 iron rules
1. Use spare money to trade
Just play with the leftover money from grocery shopping, don’t borrow to gamble. Remember, when you mortgage your house to rush into the exchange, the market makers are counting your house number.
2. Choose coins like you choose a wife
Don’t get excited just because you see a flashy altcoin. Research the white paper, see if the team is serious about their work. Remember, you’re looking for coins that can sustain your life, not just eye candy.
3. Buying in batches is an art
Don’t go all-in like a fool; the market punishes those who don’t comply. Split your funds into several parts and buy more when it drops by 10%, just like boiling a frog in warm water, the market makers can’t do anything about you.
4. Don’t put all your eggs in one basket
But don’t go and buy 100 coins to act like an ETF. Focus your bets on 3-5 coins you understand, and treat the rest like lottery tickets. If they go to zero one day, just consider it a contribution to the market makers.
5. Information is wealth
Spend more time on Twitter and less on Douyin. But remember, when influencers are calling trades, they might be secretly unloading their positions. Learn to hear the real wealth signals amid the noise.
6. Go with the trend, don’t be stubborn
Don’t go against the trend; when the candlestick is going down, not even your father can stop it. If you see a waterfall, quickly hide and come back to pick up bargains when the water calms down; it’s not embarrassing.
7. Contracts are thorny roses
20x leverage is already exciting enough; why go for 100x? Exchanges love you as a cash cow. Remember, living long is a thousand times more important than making quick profits.
8. Control your hand to live longer
Having itchy fingers is a disease that needs treatment. If you don’t understand the market, go out for some skewers and come back when the situation is clear. The crypto world is always open, but your principal may not be.
9. Mindset determines success or failure
Don’t get carried away when it rises, and don’t panic when it falls. Set your stop-loss and take-profit points, and act decisively when the time comes. Remember, the market punishes all "what if I had" thoughts.
There are no gods in the crypto world, only survivors. These rules aren’t about how to get rich quickly, but about how to stay alive. As long as there are green mountains, you don’t have to worry about firewood. Let’s encourage each other, fellow traders.
Follow Yuanbao @趋势狂人元寶 to learn more