Once newcomers in the crypto world master these six iron rules, they too can navigate the path of trading cryptocurrencies with ease and manage risks effortlessly!
1. Volatility is constant, mindset is key: Don’t hastily claim a peak during an uptrend or assert a bottom during a downtrend. Just like whether Bitcoin can reach 150,000 USD, the answer can only be revealed when the market is in a frenzy. What you believe is a bottom may just be a temporary pause; the true bottom is always unfathomable.
2. Build positions gradually, stability is king: Experts never rush to establish positions, controlling each trade within one percent. This strategy allows them more opportunities to make mistakes, resulting in lower costs and reduced risks.
3. Dare to chase highs, achieve greatness: In the crypto world, fearing heights leads to a miserable life. It's essential to understand that the primary cost in a cryptocurrency is far more complicated than you might imagine, including promotional costs, token costs, development costs, etc.—these can be multiples or even tens of times the initial investment. Therefore, daring to chase highs allows you to seize real opportunities.
4. Bull markets are a chance not to be missed: A bull market is the only opportunity for a turnaround. Just like Buffett, even with his intelligence, missing a bull market means he must quietly wait in a bear market. Thus, in the crypto world, seizing a bull market means holding the key to wealth.
5. Technical indicators are for reference only: Technical indicators often lag and should only serve as a reference rather than the primary basis for buying or selling. While technical indicators may perform well during strong uptrends, the price may already be high, so caution is needed when chasing rises.
6. Full of confidence, unafraid of the market: True cryptocurrency 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 cryptocurrencies is not only a contest 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!