Friends, are you feeling exhausted from trading cryptocurrencies, with your wallet getting thinner? Don’t worry, I once experienced that unbearable feeling, being in debt for a million, but after reflecting deeply, I finally understood the essence of trading cryptocurrencies!
Do you know? In the cryptocurrency circle, the only people who can truly become wealthy are those who have experienced liquidation, losses, and can still rise again, summarize their experiences, and have a great mindset. That's right, I am that kind of person, and now I want to share my experiences with you!
First of all, you need to understand that trading cryptocurrencies is like going to war; survival is the first principle. No matter how much you've made before, a single 100% loss means you have to start over. Therefore, preserving your principal is the hard truth! Before each trade, you should ask yourself: How much do I plan to earn? How much loss can I accept at most? Once you hit your bottom line, exit immediately without hesitation!
Secondly, you need to have a clear operational system. Don’t blindly follow others; just because someone buys something doesn’t mean you should too. You need to have your own judgment and trading strategy. You should know when to enter and when to exit.
Moreover, trends are your good friends. Don't be blinded by short-term fluctuations; you need to be patient and wait for the big market movements. Once the trend is clear, follow it and don’t go against it. Remember, a bull market doesn’t end in a day, and neither does a bear market. You need to have patience to reap the rewards!
Psychological quality is also the key to trading cryptocurrencies. You must have strong psychological resilience and not be scared out of your wits by minor fluctuations. You need to have the mindset and perspective of handling colossal losses in order to navigate this market smoothly.
Of course, you also need to keep learning and researching. Don’t think that just because you understand a little, you are invincible. You must continuously learn new knowledge and understand market dynamics and project backgrounds. Only then can you stand firm in this rapidly changing market.
Finally, I want to tell you the simplest trading method—diversified investment to reduce risk. Don’t put all your eggs in one basket; you should spread your funds across multiple promising projects and asset classes. That way, even if a particular project collapses, you won’t be severely impacted.
Furthermore, you need to choose a safe trading platform and wallet. Don't choose unreliable platforms just to save on transaction fees. You should select well-known and secure platforms for trading to protect your funds.
