How to Play in the Crypto World?
Survival is the Hard Truth!
If you want to survive in the crypto world, luck alone is not enough; you must have a set of iron rules. Here are 15 survival rules for everyone still fighting:
1. Principal First.
Always remember, preserving your principal is essential to continue playing. It's okay not to make profits, but losing everything means you're out.
2. Don't be Greedy, Be Steady.
Those who want to get rich quickly often suffer significant losses first. Stable small profits and compound interest are the way to go.
3. Diversify Investments.
Don't go all in; leave yourself an exit. The market changes rapidly, and your position is your safety rope.
4. Control Position Size.
Don't go heavy, and definitely don't try to catch falling knives during a downtrend. Trade less, and avoid chasing highs and lows.
5. Buy Slowly, Sell Quickly.
Buy in batches during sideways markets, and lay out your strategy patiently. When your target is reached, decisively take your profits without hesitation.
6. You Can't Eat All the Profits.
Don't fantasize about eating the last bite of the market; the market can turn on you quicker than you can turn a page.
7. Understand Stop Loss.
If fundamentals go wrong, retreat immediately. Stop loss is not scary; not stopping losses is what’s truly frightening.
8. Long-Term Trend Watching.
Look at weekly charts for the long term, and monthly charts for the ultra-long term. When a trend reverses, it's safer to take profits. What you have in hand is real.
9. Trends Must Reverse.
No market can escape the law of extremes reversing. Don't fantasize that a bull market will last forever.
10. Don't Move if There's No Opportunity.
Missing out is not scary; trying to catch everything is dangerous. Being able to hold onto a portion is enough.
11. Waiting is More Important.
Patience is the strongest weapon; waiting for opportunities is more effective than blindly searching.
12. Stop When You Reach Your Goals.
Don't think about making money non-stop all day. Set your goals, and take a break when achieved.
13. Stop Loss is a Responsibility, Profit is a Gift.
The market owes you nothing. Losses are up to you to stop; profits are the market's blessing.
14. Real Profits Come from Waiting.
They are not gained through frequent trading but are earned through endurance. Less action and more waiting lead to big profits.
15. Desire Destroys Mindset, Execution Saves Your Life.
Strictly execute your plan, and don't be swayed by emotions. Align knowledge with action to become a true expert.
These principles are not complicated, but very few truly implement them. Only by controlling your hands and heart can you survive long in the crypto world.
