Once a novice in the crypto world masters these six iron rules, you too can navigate the path of trading crypto with ease and manage risks effortlessly!
1. Price Fluctuations are Unpredictable, Mindset is Key: Don't prematurely declare a peak during an uptrend or assert a bottom during a downtrend. Just like whether Bitcoin can reach 150,000 USD, the answer will only be revealed when the market is in a frenzy. What you think is the bottom may just be a brief pause; the true bottom is always unfathomable.
2. Build Positions Gradually, Stability is King: Experts never rush to build positions; they control each buy and sell to within one percent. This strategy gives them more opportunities to learn from mistakes, lower costs, and reduced risks.
3. Dare to Chase Highs, Achieve the Extraordinary: In the crypto world, being afraid of highs makes one a miserable person. It’s important to understand that the cost for major players in a cryptocurrency is far more complex than you might imagine—promotional costs, chip costs, development costs, etc., are all investments that can be multiple times, even dozens of times. Therefore, daring to chase highs allows you to seize true opportunities.
4. Bull Market Turning Point, Don't Miss It: A bull market is the only chance for a turnaround. Just like Warren Buffett, no matter how smart he is, if he misses a bull market, he can only wait silently in a bear market. Therefore, in the crypto world, seizing the bull market is seizing the key to wealth.
5. Technical Indicators are for Reference Only: Technical indicators often have lagging characteristics; they can only serve as references and not the main basis for buying or selling. During strong upward trends, while technical indicators may look good, prices are already high, so chasing high prices requires caution.
6. Full of Confidence, Fearless of the Market: True crypto trading experts are full of confidence; they have experienced losses but have never been defeated. They firmly believe they will eventually conquer the market, and this belief is the key to their success.
Trading crypto is not only a battle of skills and luck but also a test of mindset and wisdom. Only those who master these iron rules and strictly adhere to them can remain undefeated in the crypto world!
