The peak of the bull market in 2018, fully invested and went all in, resulting in losing more than half in just six months. During that time, I was almost staying up every night watching the market, constantly chasing rises and killing dips, becoming more chaotic with every action. Later, I stopped and took the time to summarize, only to understand that trading cryptocurrencies is not about passion, but about having a set of calm principles.
The truth is: "In the crypto world, it’s not about who makes money the fastest, but who lasts the longest."
Over the years, I have summarized my experiences into 14 "iron rules" that I believe are very valuable for both new and old friends:
Do not expect to escape risks by luck, as that will only deepen your troubles; also do not hesitate and miss opportunities, as opportunities do not wait for anyone.
Long-term investments are as stable as gold, short-term operations are flexible as silver, while swing trading is like a brilliant diamond; mastering it can earn you more.
Leave some room for yourself, maintain a calm mindset, and respond flexibly to market changes.
Investing is like eating fish; don’t be greedy, always leave some profits for others.
Frequent buying and selling can lead to losses, indecision is like chronic bleeding; both should be avoided.
The most important aspect of investing is the mindset; staying calm allows you to make wise decisions.
Market trends often emerge in despair, develop in hesitation, and finally end in madness; learn to enter and exit at the right time.
Greed will devour profits, while fear will make you miss opportunities; controlling emotions is key to steady profits.
Opportunities are often hidden in market downturns; having cash on hand allows you to seize opportunities anytime.
Buying requires confidence, holding requires patience, selling requires determination; seizing the moment is crucial.
Do not blindly trust indicators; they are only useful to those who understand them; they can mislead those who do not.
Always set a stop-loss point to keep losses within an acceptable range.
When everyone is afraid, it may be the right time to buy; when everyone is crazy, it’s time to consider retreating.
Beginners only look at price fluctuations, seasoned traders pay attention to volume changes, while experts can perceive market trends. Continuously improving oneself is the way to become a winner.
These words may sound simple, but they are experiences I gained through years of losses. You may find them easy, but very few can truly implement them.