Is the crypto world driven by luck or skill? Having spent eight years in crypto, with six years of professional trading, over 3100 days, experiencing various strategies like long-term, short-term, ultra-short-term, and swing trading, I have a say on this matter.
I have always said that mastering a skill relies on the '10,000-hour rule.' With 8 hours a day and over 200 days a year reviewing, it takes about five years to solidify the foundation. Even so, over eight years there will definitely be major pitfalls, so I recommend not investing capital in risks you cannot bear within those eight years.
Many experts who turn tens of thousands into millions or even billions typically do so by using high leverage on contracts. But what you don't know is that many people lose everything in one market cycle. Human nature often leads to a loss of judgment in the face of major trends.
In addition to solid skills, to achieve financial freedom in the crypto world within ten years, I have summarized six iron rules for trading. You must remember them!
The market fluctuates, mindset is key
Don't casually call a top when the market is rising, and don't easily set a bottom when it's falling. Just like whether Bitcoin can reach 150,000, we can only know when the market is crazy. What you think is a bottom may just be a brief pause, and the real bottom is always beyond sight.
Build positions in batches, stability is king
Experts never rush for quick gains; each trade is kept within one percent of their account. This way, the chances of making mistakes increase, costs are lower, and risks are reduced.
Daring to chase the highs leads to extraordinary achievements
In the crypto world, those who fear chasing highs are doomed to suffer losses. The costs for big players are far more complex than you imagine; promotional expenses, chip costs, and development fees can be multiples or even tens of times the investment. Only by daring to chase the highs can you seize real opportunities.
Bull market turnaround, don't miss the opportunity
The bull market is the only chance for a turnaround. Just like Buffett, being smart is one thing, but missing the bull market means you can only wait quietly in the bear market. Therefore, seizing the bull market is seizing the key to wealth.
Technical indicators are for reference only
Technical indicators can sometimes lag, serving only as a reference and not the sole basis for buying or selling. During strong uptrends, while the indicators may look good, the price is already high, so be cautious when chasing prices.
Full of confidence, unafraid of the market
True experts are always confident. Even after experiencing losses, they are never defeated. Because they believe they will ultimately overcome the market, this belief is the key to their success. Trading crypto is not just a battle of skills and luck, but also a contest of mindset and wisdom. Only by adhering to these iron rules can one remain unbeaten in the crypto world.
The crypto world emphasizes both technology and mindset. Don't treat luck as everything; technology and strategy are the keys to your steady profits.
