Ten lessons learned from struggling in the cryptocurrency world, each filled with blood and tears:
1⃣ Don't chase highs! Those who can't help but rush in when they see prices rising are basically just bag holders. How much it wants to rise has nothing to do with you; learn to treat it as if it doesn’t exist.
2⃣ There are only two types of coins: those bought at a low point are good coins, and those bought at a high point are garbage. Truly excellent coins are always "held at the bottom, waiting for them to become extraordinary."
3⃣ Feeling restless isn't a technical issue; it's a mindset issue. If you know it's not a buying point yet you still act, a liquidation is just a matter of time.
4⃣ Trading cryptocurrencies requires ruthlessness; don't get emotionally attached to specific coins, just look for logical buying and selling points. Technicals + rhythm are greater than everything else, regardless of whether it's BTC or a small altcoin.
5⃣ If you're wrong, don’t make excuses; losing money is never the market's fault, it’s your own operational issues. You must review and summarize after every loss.
6⃣ Wanting to make money quickly is the most toxic mindset. If you can't control your own greed, don't fantasize about achieving freedom in the market.
7⃣ Success relies on long-term stable profits, not a single windfall. Think clearly before buying, be firm in holding, and decisive in selling. Trading cryptocurrencies is about you being in control, not the coins controlling you.
8⃣ Good coins need time to grow, not daily swapping. Frequent trading leads to always having small capital. Focus on one or two targets, and you'll reap significant rewards in the long run.
9⃣ The market has a rhythm; you need to learn to understand it. Forget about greed and fear; when the rhythm is right, the market will come to you.
🔟 Compound interest is the true path to wealth. Maintain a stable mindset and strategy; time is your friend. Take your time, be bold in holding, and the money that should be earned will eventually come to you.
If you also trade cryptocurrencies, have experienced liquidation, and have faced setbacks, feel free to like and save this to understand the pitfalls together!