1. Be pessimistic about ups and downs and profits
From 2013 and 2014 to the present, the cryptocurrency market has experienced two bull and bear markets in the past five or six years. There have been excitement during the big rises and there have been despair during the big falls. Old investors who have had this kind of experience should have a more calm mentality.
Rise and fall are the norm in the market. There is no market that does not rise, and there is no individual currency that does not fall. When the currency in your hands rises and falls continuously (of course, it is more likely to remain sideways), your mentality must be more rational than that of a new investor. You know what kind of mentality you should have when facing such a trend and what technical methods you should use to operate, instead of just scratching your head and not knowing why.
2. Understand the trend and learn to rest
It’s a commonplace. After five or six years of cryptocurrency trading experience, you should be able to judge the general trend and market conditions, and know which stage the market is in. This ability to judge is the prerequisite for determining your profits and losses.
Some people always think that although the market is not good, there are still some individual currencies that have reached their daily limit. I have to choose such individual currencies to successfully play the currency. Wake up, it is too difficult for you to choose the few individual currencies that have risen sharply except for the new currencies... Use this mind to recognize the overall situation and choose to make profits when the market is on the rise. This is the kingly way!
If the market is not good, it is better to calm down and take a break, find out why the market is not good, find out which factors lead to the negative factors, how long these factors can last, calculate when the next wave of rising market will come, and which sectors and opportunities can drive the rise of the next round of market. It is a correct choice to secretly seize opportunities, wait for the right time, adjust your mentality and operation.
3. I realized how important learning is (key points)
Almost all new investors have had this idea. When someone advises them to learn, they will definitely think, "Use your method and just give me the currencies that will rise sharply." If someone else gives it to them, they will really dare to buy it without asking any questions. What is the result? I believe many investors have had similar experiences. But for old investors, even if you give them a currency, they will take it back and study it carefully, and seriously consider whether it is worth building a position.
The old investors have passed the days of "self-righteousness". They understand that making money in the cryptocurrency circle is not an easy task, and they must master their own methods. They no longer regard the "gold coin pool" mentioned by any expert as a treasure. They pay more attention to the expert's coin selection logic, operating methods, technical theories, and position management methods.
They feel that having mastered many methods and having their own operating system, and applying them to cryptocurrency trading and actual combat, this is their own wealth.
Because market conditions are changing every day, no one can catch the currency that hits the daily limit every day, but the only thing that can make you outperform the market with a high probability and stay away from risks is your own operating skills.
To get back to the point, the above points are the basics that a successful investor should have. If you have been in the cryptocurrency circle for several years and are still losing money, check whether you have understood the above points. If you haven’t, don’t be discouraged. The Chinese cryptocurrency market will exist for a long time and we still have many opportunities to make money.
The cryptocurrency market is still relatively new to the public, and its volatility is greater than any other investment product. This alone has attracted many people, including many newbies who don’t know much about this new market. They have basically lost money after blindly investing, and their mentality has collapsed. The result is that they get deeper and deeper into the trap until they can no longer afford to lose. This directly reflects two problems:
1. Mentality. If you lose money, your mentality is gone. The correct approach is to stabilize your mentality and calm yourself down. Think about why you lose money. It must be because you don’t understand and don’t know the technology.
This is the second point, technology. Since you know that the reason you lose money is because you lack the technology, why don’t you learn some technology?
I don’t have anything else to say today. I’d like to share some psychological thoughts with you first. I’ll also share techniques from time to time in the future.
1. Gambler's Psychology:
Many people compare cryptocurrency trading to gambling, thinking that once you get addicted, it is difficult to quit. However, these people have a deep-rooted gambler mentality from the beginning. Cryptocurrency investment is not gambling, just like exploration is not the same as adventure. It is precisely because of this high risk that you can't just think about getting rich overnight. This low-probability event will only mess up your mentality. Strictness, prudence, and discipline are the qualities you need to have. Treat cryptocurrency investment as a job, use the discipline of going to and from get off work every day to regulate your transactions, throw away the greed of gamblers, and be more pious like a pilgrim, so that you can go long and far on the road of cryptocurrency investment.
2. Blindly follow the trend:
In the cryptocurrency market, just like the stock market, it is full of all kinds of news. Most people follow the advice of others in their transactions, but lack their own judgment. After being accustomed to other people's arguments, one day you will find that you would rather believe in other people's mistakes than stick to your own correct views. If you complain about others because of this, and are unwilling to take responsibility for the consequences of following the crowd, then you will lose the opportunity to correct your mistakes, and your investment will come to an end.
3. Random Trading:
In this dangerous cryptocurrency trading market, you cannot survive without strict discipline. If you just want to play around and want to get out of it, the chance of success is almost zero. Although the cryptocurrency investment market is very risky, as long as we adopt strict risk control methods, we can control it at a lower level. The plan should be made and strictly implemented first. In investment transactions, you must remember that there is no plan, no trading.
4. Act on one's own will:
If you start to get impatient, then trading will become as bad as your mood. Controlled by emotions, sometimes you will make irrational moves, trade when you shouldn't, and blindly open and close positions. Frequent trading is just to verify the accuracy of your method, while leaving the safety of funds aside. In fact, when you are forced to be controlled by emotions, you may want to simulate operations at this time. In this way, you can reduce the losses caused by blind operations during this period, and achieve the purpose of relieving emotions and adjusting your mentality.
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If you want to seize this bull market, it is definitely too late to learn and sell now.
It would be great if someone could get you started quickly.
I am Sister Hong, welcome to communicate
