After many years in the crypto space, I started off losing badly, and had both gains and losses along the way. I've summarized some experiences to share with everyone, hoping they might help you. As long as you do this, it will be hard to lose money.
1. If the market crashes and a coin doesn't fall, it means there are market makers protecting it: You must hold onto such coins, there will definitely be profits later!
2. Newbies should pay attention to macro information when trading: For short-term trading, look at the 15-minute and daily charts, hold if the price is above the line, and run if it breaks. For medium-term, focus on the daily chart; keep it simple and direct; don’t blindly trust flashy technical indicators!
3. If a short-term coin hasn’t moved for three days, hurry to replace it: If you buy and it drops, cut losses at 5% immediately, don’t hesitate!
4. If a coin is halved from its peak and falls for nine consecutive days: This is a complete drop, a rebound is imminent, so get in decisively at this time!
5. When trading coins, chase the leader: The one that rises the most is it, and it’s also the one that resists falling. Don’t be afraid of high prices, don’t catch falling knives, the leading coin is to chase up and cut down!
6. Stop always thinking about bottom fishing: A falling coin is like jumping off a building, with no bottom line! Cut losses when necessary; trends are king. Buying coins is not about getting cheaper but about seizing the right moment as the best choice.
7. Have you gotten a little profit and become overconfident? Be careful of falling into a pit: Earning once is easy, but the difficult part is maintaining profitability. After every gain, reflect on whether it was your skill or just luck. You need your own trading strategy to move forward steadily!
8. If you’re unsure, stay in cash: It’s not shameful to stay in cash, losing money is what’s shameful. Remember, you’re here to preserve your capital, not to be a gambling god. Trading is about success rates and profit-loss ratios, not speed.
9. Influx of funds into new coins: Initially, due to market hype, prices may rise. But once sentiment changes, coins lacking solid fundamentals can crash rapidly.
10. The crypto world is powered by consensus: The value of a coin comes from its consensus mechanism, backed by a group of like-minded people. Everyone pushes the project together, and the result is wealth acquisition. Ten years in crypto is like a day in life!
