How to play in the crypto world? Use your execution power and remember these 13 rules.
Today, I will talk about the 13 most important rules for survival in the crypto world.
Rule 1: Capital comes first! Always remember, protecting your capital is key to surviving in this market. Saying it three times is not enough! Many people only think about making money while ignoring risks, and as a result, they get taught a lesson by the market.
Rule 2: Don’t be greedy, earn steadily. Slow is fast. In fact, as long as you are not greedy, making a profit is not difficult; stable small profits are more reliable.
Rule 3: Diversify your investments, invest in combinations, and keep some room in your positions to follow the trend. Never go all-in; if the market reverses, you will have no way out.
Rule 4: Don’t invest heavily; never buy coins in a downtrend, avoid frequent trading, and don’t chase the highs and lows. These are good habits that leave you a way out.
Rule 5: Buy slowly, accumulate during sideways movement, and take your time to buy. Sell decisively; once you reach your target price, sell immediately.
Rule 6: You can’t make all the money, but you can lose it all. Don’t think about taking all the profits; the market can slap you back at any time.
Rule 7: Opportunities are always there; if the fundamentals of a coin change significantly and are not favorable for its development, you should stop loss immediately. Not stopping loss may cause you to lose everything overnight.
Rule 8: If investing long-term, view it on a weekly basis; for ultra-long-term investments, view it on a monthly basis. If the trend reverses and is in a downtrend, it’s better to cash out. What you have in hand is the most secure; don’t be greedy thinking that the market will keep moving up indefinitely.
Rule 9: The market always has extremes that will reverse. This will never change; don’t fantasize that the trend will not reverse.
Rule 10: Do not trade if there are no opportunities. Missing out on opportunities is normal; capturing a part is enough; don’t think you can get it all.
Rule 11: Waiting for opportunities is always better than searching for them. Patience is the greatest weapon of the winner.
Rule 12: Once you achieve your goal, stop; energy is limited! Don’t think about earning non-stop in a day; rest after achieving your goal.
Rule 13: Stopping loss is your responsibility; profit is a gift from the market. Don’t confuse the two; the market owes you nothing.
These rules may seem simple, but they are not easy to execute. Only those who can truly carry them out will become the ultimate winners!