After 8 years of crawling through the crypto world, I have gained many experiences and lessons from real money. I have distilled these 18 operational maxims, especially suitable for beginners or office workers who can't keep an eye on the market.
This is my personal summary for reference (suggest saving for future reference):
Prepare supplies before entering the market, test the waters with small steps, don’t go all in! (Viewpoint: Don’t rush in due to impulse, first learn, and try with small amounts of spare money.)
Low-level consolidation breaking new lows, it's a good time to strike with heavy positions! (Case study: Similar to the sideways movement after Bitcoin dropped below $4000 in March 2020, those who dared to buy back then all made profits later.)
Sell quickly on sharp rises, buy quickly on sharp falls, doing nothing during sideways is the most worry-free! (Viewpoint: Trading during sideways movement can easily wear down capital, better to take a break.)
Stuck in sideways movement? This might be 'sideways instead of down', hold steady and don't let go, a rally could come at any time! (Viewpoint: Prolonged sideways movement consumes selling pressure, once it starts, it could be quick.)
Rocket-like surge in coin prices? Keep a close eye, be ready to run at any time! (Viewpoint: Sudden surges followed by drops are normal, don’t be greedy for the last penny.)
Continuous decline? This is exactly the rhythm for incremental buying! (Viewpoint: During slow declines, you can buy in small amounts as planned to lower costs.)
Jumping up and down for consolidation? Don’t rush, wait for the direction to be clear before deciding! (Viewpoint: Volatile markets can easily backfire, patiently wait for the trend to emerge.)
High-level sideways followed by a strong surge? Run quickly! Low-level sideways breaking new lows? Boldly buy! (Viewpoint: Based on position, high levels lure in, low levels lure out are common tactics.)
Core maxim: Don't sell without a surge, don't buy without a drop, during sideways just sip tea and watch the show! (Viewpoint: This is discipline, reducing ineffective trades.)
Buy during declines (bear candles), sell during rises (bull candles), go against market sentiment! (Viewpoint: Be greedy when others are fearful, but it requires courage and judgment, beginners should be cautious.)
A big drop in the morning can be a chance to buy low, a big rise in the morning should be a time to take profits; don’t chase highs in the afternoon, wait until tomorrow after a big drop; don’t cut losses in the morning, if the market is dull just sleep! (Case study: Many times, sharp drops in the morning are due to panic selling, and there is often a rebound in the afternoon or next day.)
Buying more when trapped is just to break even, wanting to make money immediately by averaging down? That’s greed! (Viewpoint: Averaging down is a strategy to lower costs and break free, not a means to make profits.)
Does a seemingly calm surface suddenly bounce? Beware of the huge wave that follows! (Viewpoint: Sudden movements often indicate a change in trend.)
After a big rise, a pullback is inevitable, is the K-line drawing a triangle? The consolidation is about to end! (Viewpoint: Triangular consolidation is a common continuation pattern.)
In an uptrend, look for support (where can it hold), in a downtrend, look for resistance (where is there pressure to rise)! (Viewpoint: Different trends focus on different key price levels.)
Full warehouse gambling is a big taboo, holding on until the end is not advisable! When the market changes, stop loss is necessary, preserve the capital for the next time! (Viewpoint: Risk management and capital safety are always the top priority.)
Trading cryptocurrencies essentially relies on mindset, greed and fear are the most harmful! Restrain from chasing highs and cutting losses, calmness and peace can lead to victory! (Personal experience: When the mindset collapses, operations will deform.)
The core of making money in the crypto world is simply this: Hold good coins steadily, don’t shake! (Viewpoint: For truly valued coins, holding long-term is often more effective than frequent trading. Of course, the premise is 'good coins'.)
Important reminder: The risks in the crypto world are enormous, and the fluctuations are severe. The above is my personal distilled experience of 8 years, not investment advice. Enter the market with caution, only use money that you can afford to lose completely. I will share more practical insights later.
The core of making money in the crypto world is just two words? I rely on it to earn passively in a bear market! Beginners can still benefit by copying it!
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