Starting with $10,000 in six months, withdrawing all my principal, I bought a house in a small county town! It’s not luck, it’s these 10 iron rules!
This year, with a new account and starting capital of $10,000, after withdrawing the principal, I achieved my goal of buying a house in a small county town with pure profits—this is not a fairy tale, but the result of strictly executing trading strategies.
In 2024, I started my cryptocurrency journey with a new account of $10,000. In just six months, I not only recouped all my principal but also bought a house of my own in my hometown with pure profits.
There is no magical wealth code behind this, nor is there luck in getting rich overnight. It is only the firm execution of trading strategies and strict adherence to the iron rules set for oneself.
If you are determined to walk a path to freedom through trading, please remember these 10 iron rules of the cryptocurrency world:
01 Preserving your principal is the top priority.
Your principal is your ammunition on the battlefield. Without ammunition, no matter how good the opportunity, it has nothing to do with you. Never invest all your capital in one trade; control the risk of a single trade within 1%-2% of total capital.
02 Make a plan and strictly execute it.
Every trade must have a clear plan: entry point, stop-loss point, take-profit point, and position size. Once the plan is made, execute it like a machine, without being swayed by emotions.
03 Go with the trend, do not be a contrarian hero.
Trend is your friend. Do not try to catch the bottom when the market is falling, nor should you short too early when it is rising. Follow the market trend, rather than going against it.
04 A stop-loss is a lifeline, not an option.
Every trade must have a stop-loss. A stop-loss is not an admission of failure, but a necessary means of survival. Better to take a small loss than to suffer a large one.
05 Cashing in on profits reasonably, do not be greedy.
Just catch the fish's body; there’s no need to chase the head or tail. Set reasonable profit targets, and decisively cash out or partially cash out once the target is reached. Do not let profitable trades turn into losing ones.
06 Controlling position size is controlling risk.
Never go all-in. Divide your funds into several parts, build positions in batches, and take profits in batches. There are always opportunities in the market, but you need capital to seize them.
07 Keep learning but do not blindly follow the crowd.
The cryptocurrency market changes rapidly, and one needs to constantly learn new knowledge. But this does not mean blindly following the advice of various 'gurus.' Forming your own trading system is the long-term solution.
08 Emotional management is more important than technical analysis.
Fear and greed are the biggest enemies of traders. Stay calm and objective; do not be arrogant because of profits, and do not panic because of losses.
09 Regularly withdraw profits to secure them.
The money earned in the market is only real when extracted. I regularly convert profits into stable assets or fiat currency; my principal has long been recouped, and now I trade with market money.
10 Stay patient and wait for the best opportunity.
Not every day needs trading. Most of the time should be spent waiting, only betting on opportunities you are most confident in. Less trading and more focused trading is the key to profitability.
This path to freedom is not crowded because very few can stick to discipline. Many people pursue quick riches while neglecting the importance of sustained and stable profits.
My small county town house is not the end, but proof: in this market, stability beats radicality, and living long is more important than making quick profits.
I hope you can find your own rhythm and walk your own path to freedom.
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