13 Iron Rules of Cryptocurrency Trading: From Zero to Supporting a Family, Hard-Won Truths
Cryptocurrency trading is not a shortcut to overnight riches, but a journey of capital, patience, and temperament.
Having gone through three cycles of bull and bear markets in the crypto space, from being empty-handed to supporting my family through crypto, I have summarized 13 iron rules. Every word is a lesson learned through blood and tears, packed with valuable insights. I recommend saving this.
1. Preserve your capital to survive
Capital is your lifeline; losing it means you’re out. Consider risks first, then talk about returns.
2. Don’t be greedy; profits will come naturally
Don’t imagine you can capture the entire market movement; it’s better to leave some profit than to lose everything.
3. Concentrate your investments; go with the trend
Don’t blindly spread your investments or go all-in; following the trend is the way to go.
4. Control your position; refuse to stubbornly hold
Heavy positions are prone to explosions; stubbornly holding will lead to losses. It’s better to do less than to get trapped.
5. Enter calmly, exit decisively
Be cautious when buying and resolute when selling; once your stop-loss is triggered, never look back.
6. Profits are limited; losses are unlimited
Don’t chase after money that can’t be earned, but a single loss can wipe out your entire capital.
7. Stop-loss must be executed
Stop-loss is not a sign of defeat but a form of self-protection. Hesitating for a second can lead to bankruptcy.
8. Combine long and short; secure profits
Whether long-term or short-term, money in your pocket is the real profit.
9. Extremes will reverse
The market won’t sustain a one-sided trend; a rise to the limit will correct, and a drop to the abyss will rebound.
10. If there’s no opportunity, don’t act
Missing out is not scary; blindly acting is the biggest trap.
11. Waiting is more important than acting
Market movements do not equal opportunities; patience is the rarest weapon for retail investors.
12. Stop when you reach your target
Once you achieve your goal, exit immediately. Save your energy for the next battle; the market is always there, so there’s no rush for this one.
13. Stop-loss depends on yourself; profits depend on the market
Stop-loss is discipline; profits are a gift. Don’t confuse the two, and don’t be greedy.
These 13 iron rules are lessons I’ve learned through the ups and downs of the market.
The market always has new stories, but these iron rules are timeless.
By adhering to them, you can survive longer and go further in the crypto space.
Confused by the market’s ups and downs? Trapped and don’t know how to get out? Or even feel like your operations are going off track? Don’t hold back; come talk to me, and let’s sort out your thoughts～
