Last week, I took a female fan from the cryptocurrency world who was eager to make quick money right after entering the market and almost fell into a big pit.
In the first 9 small trades, she made a little profit, and in her excitement, she heavily invested at a high point. As a result, when the market reversed, not only did she lose all her profits, but she also lost a significant amount of her principal.
I hurriedly reminded her: the cryptocurrency world is not about relying on luck to gamble; if the direction is wrong, you have to cut losses in time and not hold on stubbornly. Good luck will not always follow you.
Later, she was confused: clearly, she had predicted the market correctly, but after being advised by others in the group, she changed her trade, only to watch what could have been a profitable trade turn into a loss.
I patted her and said: you must trust your own judgment; the truth in the market often lies in the hands of a few people. Others' opinions should only be references, don’t lose your own perspective.
I taught her a few core principles:
Look at the technical analysis, trade with the trend, don’t go against it;
If there’s no suitable entry point, wait; don’t rush into the market out of excitement, good opportunities are often waited for;
Take profits when you make them, cut losses when you have them; dragging it out can lead to liquidation.
Only use spare money for trading; don’t touch borrowed money; spare money helps you maintain a stable mindset and allows you to flexibly control risk;
Pay attention to the news; a single piece of news can change the market, trading with technical analysis together is more stable.
I reminded her: the goal in the cryptocurrency world is very simple—don’t get washed away by the big waves.
Don’t seek instant wealth; first, protect your principal and always stay “alive” at the table; this is the starting point of trading.
Most people are trapped in a vicious cycle, not due to a lack of effort, but a lack of a guiding light.
The market is often present, but opportunities do not wait for anyone—follow the right people @阿柒交易日记 to step out of the darkness.