🌹Born in 1992, now 33 years old, with a net worth of 20 million.
After 10 years of struggling in the cryptocurrency world, I've summarized 8 hard-earned rules that have helped me navigate countless bull and bear markets!
1. Only use spare money so you can sleep well
Play with money that you don't need in the short term; losing it won't affect your life. Don't touch mortgage, living expenses, or retirement funds. The market never lacks opportunities, but you must stay alive to be eligible to wait for them.
2. Stop-loss is a lifesaver
For every trade, first consider the worst-case scenario. If it drops 10%-15%, get out immediately; never let it turn into a deep loss. Protecting your principal gives you a chance to recover.
3. Stay away from leverage, especially for beginners
Leverage can make you rich overnight, but it can also wipe you out just as quickly. In extreme market conditions, if you don't get liquidated, consider it a lucky break, but luck won't always be on your side.
4. Don't chase the highs or panic sell
The market is often the most active when it's planting bombs; the worst times often hide the best opportunities. Don't dance to the K-line; have your own judgment.
5. Position size is your moat
Don't exceed 30% in a single asset; always keep some bullets in reserve. The market will always have the next wave of opportunities; don't corner yourself into a do-or-die situation.
6. Don't blindly trust insider information
Real opportunities won't reach your ears. So-called 'insider news' or 'expert recommendations' are often traps. Evaluate the project, the funding, and the trend; that's real skill.
7. Understand the importance of securing profits
Take partial profits once you double your money; don't get greedy with a 50% gain. Greed will take you on a rollercoaster ride; realizing your profits is what truly matters.
8. Emotional stability is the top-tier equipment
Don't rush to recover losses when you're down, and don't get overconfident when you're up. A calm mind is worth more than any technical indicator.
In the cryptocurrency world, it's not about who makes money the fastest, but who lasts the longest.
If you can survive one bull and bear market, you'll understand: staying alive is more important than anything else.
