I have been fighting in the cryptocurrency market for 9 years, 6 of which were as a professional trader. Every day's market fluctuations and trading decisions have taught me deeper lessons. Here, I want to share a few insights and experiences about trading, especially how to move forward steadily through the correct mindset.
1. From long-term to short-term, all trading methods I have experienced.
These 9 years of experience have led me to try almost all types of trading: long-term investing, short-term swings, ultra-short-term impact trading, etc.; I have tried almost every method. Each method has its unique advantages and disadvantages, but regardless of which one you choose, the foundation for stable profits always lies in a deep understanding of the market and continuous improvement of techniques.
In my view, true success relies not only on how many trades are done correctly but also on continuously improving oneself, making trading skills more mature and robust. I have always believed in the '10,000-hour rule'; it tells us that to master a skill, one needs to spend time accumulating experience. Daily reviews for 8 hours over more than 200 days take nearly 5 years to lay a solid foundation for stable profits. But this is just the beginning!
2. The mindset of trading and self-awareness.
After 9 years, I deeply understand the volatility of the cryptocurrency world; market fluctuations often lead to irrationality. Whether in the frenzy of a bull market or the troughs of a bear market, maintaining a calm mindset is key to success. Many people see experts making millions or even billions from tens of thousands and think this is a 'shortcut to wealth'. In fact, behind most seemingly high returns is large leverage trading. Among these, many who die faster remain unseen; numerous failures happen unnoticed during a bear market.
Human nature often leads to the loss of correct judgment in the face of major trends. Even after countless repetitions, I deeply feel that 'changing oneself' is the only way out. It is hard to change others, but what we can do is change ourselves, adjust our behaviors and decisions, to go further.
3. Learn from losses.
In cryptocurrency trading, losing money is not scary. Every trader inevitably experiences losses. What is truly frightening is not facing the reasons behind the losses and not making necessary changes. Always thinking about recovering losses with a lucky mentality or simply avoiding problems is fatal.
Reflection and summarization are very important. The financial market has no 'if', only 'results'. Our current situation comes entirely from every decision we made before. Everything has a cause and effect; good causes yield good results, and bad causes yield bad results. Only through continuous summarization and reflection can we avoid making the same mistakes again.
4. Self-examination before trading.
I have always believed that self-examination must be done before trading. For each trade, have you understood the fundamentals and technicals of the market? Do you have clear trading reasons? Have you developed strategies and risk control measures? Can you accept failure and learn from it? These questions need to be deeply considered before every operation.
Abandoning the mentality of getting rich quickly and the mindset of luck, and realistically assessing one's trading ability and cognitive range, is the necessary path to becoming a qualified investor.
5. Summary and Outlook.
In cryptocurrency trading, changing oneself is more important than changing others. We can learn from every success and failure, continually adjust our operational strategies, and ultimately achieve stable profits.
Markets do not have eternal bull markets or bear markets. The key is whether one can maintain a clear mind amidst changing markets, adhere to trading principles, and continuously adapt to the market, making reasonable adjustments.
The essence of trading is simple: cut losses when wrong, hold when right. As I always say, only by understanding oneself clearly can one stand firm in the market. As long as one is willing to change, anytime is just right.
