Once newcomers in the cryptocurrency world grasp these six iron rules, they too can navigate the world of trading with ease and manage risks effortlessly!
1. Volatility is constant, mindset is key: Don't hastily declare a peak during an uptrend, nor assert a bottom during a downtrend. Just like whether Bitcoin can reach $150,000 will only be revealed when the market goes wild. What you think is a bottom may just be a brief pause; the true bottom is always unfathomable.
2. Build positions in phases, stability is king: Skilled traders never rush to achieve results. Each buy or sell is controlled within one percent. This strategy provides them with more opportunities to make mistakes, lower costs, and reduced risks.
3. Dare to chase highs, achieve the extraordinary: In the cryptocurrency world, fearing highs leads to a life of hardship. Understand that the main players’ costs in a cryptocurrency are far more complex than you might think, including promotion fees, chip costs, development fees, etc., which can be several or even dozens of times the initial investment. Therefore, daring to chase highs allows you to seize true opportunities.
4. Bull market turnaround, don't miss the chance: A bull market is the only opportunity for a turnaround. Just like Buffett, no matter how smart he is, if he misses a bull market, he can only wait silently in a bear market. Thus, in the cryptocurrency world, seizing a bull market means holding the key to wealth.
5. Technical indicators are for reference only: Technical indicators often lag and can only serve as a reference rather than the main basis for buying and selling. While technical indicators may look good during a strong uptrend, the price is already high, so chasing prices should be approached with caution.
6. Full of confidence, unafraid of the market: True cryptocurrency trading experts are filled with 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 in cryptocurrency is not just 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 cryptocurrency world!
