Once a novice in the crypto world masters these iron rules, they will establish themselves.
Once a novice in the crypto world masters these iron rules, their trading career will soar as if on a cheat code.
In the turbulent seas of the crypto world, true experts do not rely solely on technology to dominate, but rather on a profound understanding of market laws and strict adherence to them. Here are the six iron rules that I have always followed, shared with those destined to find this, so you too can navigate the path of trading easily and manage risks effortlessly!
1: Market fluctuations are unpredictable, mindset is key: Don't hastily declare a peak during an upswing, nor a bottom during a downturn. Just like whether Bitcoin can reach $150,000, the answer can only be revealed during a market frenzy. What you think is the bottom may only be a brief pause; the true bottom is always unfathomable.
2: Build positions in batches, stability is king: Experts never rush to build positions, controlling each buy and sell within one percent. This strategy allows them more opportunities to trial and error, lower costs, and reduced risks.
3: Dare to chase high prices, achieve greatness: In the crypto world, fearing high prices leads to misfortune. Understand that the cost for major players in a cryptocurrency is far more complex than you might think, including promotional costs, token costs, development costs, etc., which can be multiples or even tens of times the investment. Therefore, daring to chase high prices allows you to seize true opportunities.
4: Bull market turnaround, seize the moment: A bull market is the only opportunity for a turnaround. Just like Buffett, no matter how smart he is, missing a bull market means he can only wait silently in a bear market. Thus, in the crypto world, seizing the bull market is seizing the key to wealth.
5: Technical indicators are for reference only: Technical indicators often have lagging characteristics; they should be considered as references rather than the primary basis for buying and selling. While technical indicators may look favorable during strong upward trends, the prices are already high, so be cautious when chasing prices.
6: Full confidence, unafraid of the market: True trading experts are filled with confidence; they have experienced losses but have never been defeated. Because they firmly believe they will ultimately conquer the market, this belief is the key to their success.
Trading is not only a contest of skills and luck but also a test of mindset and wisdom. Only those who master these iron rules and strictly adhere to them can remain undefeated in the crypto world.
