How to play in the cryptocurrency world?
Next, let me share with you the 13 most important rules for survival in the cryptocurrency market.
Rule 1: Preserve your capital first! Always remember, preserving your capital is key to surviving in this market. Saying it three times is still not enough! Many people only think about making money 💰, but ignore the risks, and end up being taught a lesson by the market.
Rule 2: Don’t be greedy, make stable profits. Slow is fast. In fact, as long as you are not greedy, making money 💰 is not difficult, and stable small profits are more reliable.
Rule 3: Diversify investments, combine investments, and leave room in your positions to go with the trend. Never go all-in; once the market reverses, you’ll have no way out.
Rule 4: Don’t over-invest; never buy coins in a downtrend, don’t operate frequently, and don’t chase after rising and falling prices. These are good habits to leave yourself an escape route.
Rule 5: Buy a little slower, accumulate by buying in batches during sideways movement, and buy slowly. Sell decisively; when you reach your target price, sell right away.
Rule 6: You can’t make all the money, but you can lose everything. Don’t think about taking all the profits; the market can slap you back at any moment.
Rule 7: Opportunities are always there; if the fundamentals of a coin change significantly and are not favorable for its development, you should stop loss immediately. Not stopping loss might send you back to square one overnight.
Rule 8: If you are doing long-term investing, you should look at it on a weekly basis; for ultra-long-term investing, look at it on a monthly basis. If the trend reverses and is in a downward channel, it’s better to cash out for safety. What you have in hand is the most stable; don’t be greedy thinking the market can keep going forever.
Rule 9: The market will always rebound after extremes. This will never change; don’t fantasize that trends won’t reverse.
Rule 10: Don’t trade without opportunities. Missing opportunities is normal; capturing a part is enough; don’t think you can get it all.
Rule 11: Stop-loss is your responsibility; profits are the market's gift. Don’t get it mixed up; the market owes you nothing.
Rule 12: Profits come from waiting, not from frequent trading. Don’t think about making 100 trades in a day; real profits come from patience.
Rule 13: Desire can crush your mindset; execution can save you. Strictly follow your trading strategy; don’t let emotions lead you, achieve unity of knowledge and action!
These rules seem simple, but they are not easy to execute. Only those who can truly follow them will become the ultimate winners!
