I know a senior who has been struggling in the crypto world for many years. He initially invested 100,000, and now his account is worth 42 million. He once told me something that made me understand a lot at once.
He said: The crypto world is ultimately an emotional market, where most people are just a herd following trends. As long as you control your emotions, this place is a cash machine.
Based on his experience, to really make money in the crypto world, it relies on these points:
First, don’t be greedy for small profits and avoid big losses.
It sounds simple, just eight words, but the vast majority of people can't accomplish it in their lifetime. For example: you opened a long position at 20,000 USD, and when it rises to 21,000, you quickly take profits, feeling happy with a 5% gain. As a result, the market continues to rise to 25,000, and you only made 5%, but missed out on 50%. Then you remind yourself to hold next time. The next time, the price goes back to 20,000, you open a long position again, it rises to 21,000, and you think this time you must hold for a bigger profit, but it drops back to 20,000, or even below to 19,500, and you can only take a loss. Many people spend their entire lives struggling in this cycle of repeatedly getting slapped in the face, never able to break free.
Second, only choose those mainstream coins that have fallen thoroughly and are slowly starting to rise.
Don’t touch those flashy new coins. First, take a 10% position to build a base, and don’t guess where the bottom is, just wait for it to stabilize before taking action. The method looks clumsy, but it’s stable.
Third, wait until the trend is clear, and add another 20%-30% during the pullback.
Others always want to buy at the lowest point, but I’m different; I add when the trend is rising, even if the price is a bit higher, it’s always better than being stuck halfway up the hill.
Fourth, after each wave of increase, first withdraw the principal and half of the profit.
Let the remaining position fluctuate as it wishes, no matter how crazy the market is, once it hits your target line, sell, and never be greedy. Money in your pocket is real profit.
With this simple method, last year he helped a friend who had lost over 600,000 not only recover his losses in six months but also earn enough for a BMW X3.
It's not bragging; there are so many smart people in the crypto world, what’s lacking are the 'foolish' ones who can control their hands and be patient. While everyone else is chasing highs and cutting losses, you honestly follow the trend, and you can pick up the money that others are frantically dropping.
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