The Dumbest but Steadiest Method for Trading Cryptocurrencies: Surviving Long-Term is the Biggest Win
To make money trading cryptocurrencies, you actually only need to follow the Three Don'ts + Six Mantras. While it may seem foolish, it's steady enough to make you question life, yet your account continues to grow over the long term.
Three Don'ts Principle:
1· Don't Chase the Price: Never buy when the price of a cryptocurrency is skyrocketing. Enter during panic and exit during greed, and develop the habit of 'buying only when it drops'.
2· Don't Over-Leverage: Heavy positions are the root cause of losses for most people. One wrong step in the market, and liquidation is the norm.
3· Don't Go All-In: Never bet everything. Opportunities are frequent, but going all-in leaves you no room to adapt, and the opportunity cost is extremely high.
Six Short-Term Mantras:
1· After sideways movement at high levels, new highs are often seen; after sideways movement at low levels, new lows are frequently hit. Wait for clear direction before acting.
2· Don't trade during sideways movement to avoid being repeatedly shaken out.
3· Buy on bearish candles and sell on bullish candles; trade according to market sentiment.
4· Slow declines and slow rebounds indicate a different rhythm than sharp declines and rebounds; timing is crucial.
5· Pyramid Building Method: Buy more as it falls, but buy less each time; controlling risk is the key strategy.
6· After continuous rises and falls, there must be sideways movement; sideways movement is a precursor to trend changes. Don't go all-in at extreme positions; patiently wait for signals of a trend change.
This method may not be glamorous, but it is resilient, steady, and sustainable.
Real profits come not from speed, but from steadiness!
