Entering the crypto world for nine years, I lost a lot at the beginning, with ups and downs along the way. I've summarized some experiences to share with you, hoping to help you. As long as you do this, it will be hard to lose money.
1. When the market crashes and the coin doesn't drop, it indicates that there are market makers protecting the price: You must hold onto such coins; there will definitely be profits later!
2. Newcomers should pay attention to macro information when trading: For short-term, look at the 15-minute and daily charts; if the price is above the line, hold it; if it breaks down, run. For mid-term, focus on the daily chart; the operations should be simple and direct, don't be superstitious about flashy technical indicators!
3. If a short-term coin doesn't move for three days, quickly get rid of it: If you buy and it drops, cut your losses at 5%, don’t drag it out!
4. If a coin has halved from its peak and has dropped for nine days: This is a complete drop, and a rebound is just around the corner, so decisively get in!
5. When trading coins, you should chase the leaders: The ones that rise the most are also the most resilient. Don’t be afraid of high prices, and don’t catch falling knives; chasing the leading coin means buying high and selling low!
6. Don’t always think about bottom fishing: A falling coin is like jumping off a building, with no bottom line! If you need to cut losses, do it; the trend is king. When buying coins, it’s not about being cheap; it’s about the timing being right.
7. Have you become complacent after making some money? Be careful not to fall into a trap: It's easy to make a profit once, but hard to sustain it. After each profit, reflect on whether it was your skill or just luck. You need your own trading strategy to move forward steadily!
8. If you're not sure, stay in cash: It’s not shameful to be in cash; losing money is what’s shameful. Remember, you are here to preserve your capital, not to be a gambling god. Trading is about success rate and risk-reward ratio, not speed.
9. Inflows of funds into new coins: Initially, due to market hype, prices may rise. But once sentiment changes, coins lacking solid fundamentals will quickly plummet.
10. The crypto world is powered by consensus: The value of a coin comes from its consensus mechanism, supported by like-minded people. Everyone pushes the project forward, resulting in the acquisition of wealth. Ten years in crypto is like a day in life!
