Do you remember what it was like when you first entered the crypto world? Let’s encourage each other with the following article!
Invested 500,000, and now there are 80 million lying in my account. Over the years in the crypto world, from a rookie to a veteran who can withstand the storm, it has never relied on luck.
Today's note is for those of you who are still struggling to find your way in the fog of the crypto world! 🌟 To succeed in trading, it's not about those so-called get-rich-quick schemes, but about eliminating the following 8 common misconceptions! Read carefully, I suggest you save it and read it repeatedly 📚, and feel free to share your trading stories in the comments! 👇
1️⃣ Too dispersed positions
Human energy is limited, and true experts often have a very high level of focus. 📊
My own experience is: when assets are below 1 million, it’s best to control the number of currencies held to 3-5. Only by focusing on research can you seize the opportunities of each currency accurately!
2️⃣ Concentrated holdings
Focus your energy, but diversify your investment tracks! The market in crypto changes too quickly, and the switch between sectors doesn’t wait for anyone. ⚡️
My suggestion is: layout 3-5 different sub-tracks, and select the leading projects in each track. This way, you can diversify risks and steadily preserve profits!
3️⃣ Too much self-awareness
After being in the crypto world for a while, you will understand that the market is always right! Never get overly excited when the price goes up, or collapse in confusion when it drops. 🙈
I always remind myself to maintain a beginner's mindset and to be respectful of the market. If I'm wrong, I must bravely admit it; acknowledging mistakes allows me to learn from them and continuously improve! 🧠
4️⃣ Lack of patience
Many people prefer to go all in but are unwilling to stay out and wait for the right moment. ⏳
The truth is: those who can truly make big money are the ones who dare to invest heavily at key moments. Sometimes slow is fast; patience is the prerequisite for profit! 🕰
5️⃣ Indecisiveness
When you see an opportunity but hesitate to jump in, and when the market starts, you begin to doubt; by the time so-called certainty appears, the cost-effectiveness of entry is long gone. 😓
My approach is: act decisively when I see the right opportunity, and retreat promptly if I'm wrong! Don’t let excessive analysis become an excuse for self-comfort. 💪
6️⃣ Don't cut losses
Having unrealistic fantasies about every investment you make, always feeling that 'this time I'll definitely break even'? But the reality is: not cutting losses will only drag you deeper! 😣
Always remember: preserving the principal is the top priority; as long as you are alive, there is a chance to turn things around! 🛡
7️⃣ Can't understand the movements of big funds
The strategies of big players are always counterintuitive: when you chase in, they dump; when you cut losses, they start to rally. 🎢
I suggest everyone try to think from the perspective of big funds: why are they washing the market? Do they have enough chips? Who is really lifting the market and who is quietly getting off? 🕵️♂️
8️⃣ Thinking you haven’t made mistakes
This is the most dangerous mindset! If you think you don’t have any of these problems, you might already be standing at the edge of loss! 🚨
Always self-check: constantly reflect on your operations, and only by upgrading your understanding can you go further in the crypto world! 🌈
💡 These 8 misconceptions are common problems I have summarized from years of trading experience, and they are also pitfalls I have fallen into!
As long as you can change 3 of these, your trading state will undergo a qualitative change!
Trading is actually a practice of cognition and emotion; rather than rushing to pursue wealth, it's better to learn how to survive in the market first.
Investment has never relied on passionate output, but rather on calm accumulation! #GetRichInCrypto