Tư Mã Ý
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On the occasion of breaking ground for the first house in my life, which is also the result of years of hard work investing in cryptocurrency. I would like to share a few core experiences that have helped me survive and earn my first billion from two literal zeros, hoping to assist newcomers entering the market to reduce risks, lower the tuition for the market, and bring dollars from the West back to Vietnam. 😄😄😄
Principle 1: If you don't have money, you need to work and save to invest, absolutely do not borrow. When you don't have money, it means your skills are not sufficient to make money from the market; the more you borrow, the more you will fail, the more anxious and panicked you will become, leading to foolish actions - a vicious cycle. Borrowing may lead you to spend the rest of your life repaying debts without being able to lift your head up. If you have 5 USD, play with 5 USD; if you have 10 USD, play with 10 USD. If you incur losses, go work as a laborer to earn back.
Principle 2: Always allocate 50% of your total capital for spot trading. The market will always have bull and bear phases; no matter how bad you are at futures, if you hold onto your spot during a bull market, you will definitely make a profit. When the market rises, you will also feel secure and steady because you have already made a profit.
Principle 3: To profit from futures trading, you need to look at the larger timeframe, weekly or monthly, as I look at large cycles over several years. Don't aim for take profits (TP) of 10%, 50%, etc.; you need to aim for TPs calculated in thousands of percent or prices that increase by multiples. This way, the profit will be enough to cover all stop losses (SL). For me, the SL for each trade is around 5 - 10 USD, with a win rate of only 10 - 20%, but my TPs are often thousands of USD. You must understand that winning a trade is extremely difficult, so you have to hold on tight.
That's basically it, I will share more later.
Principle 1: If you don't have money, you need to work and save to invest, absolutely do not borrow. When you don't have money, it means your skills are not sufficient to make money from the market; the more you borrow, the more you will fail, the more anxious and panicked you will become, leading to foolish actions - a vicious cycle. Borrowing may lead you to spend the rest of your life repaying debts without being able to lift your head up. If you have 5 USD, play with 5 USD; if you have 10 USD, play with 10 USD. If you incur losses, go work as a laborer to earn back.
Principle 2: Always allocate 50% of your total capital for spot trading. The market will always have bull and bear phases; no matter how bad you are at futures, if you hold onto your spot during a bull market, you will definitely make a profit. When the market rises, you will also feel secure and steady because you have already made a profit.
Principle 3: To profit from futures trading, you need to look at the larger timeframe, weekly or monthly, as I look at large cycles over several years. Don't aim for take profits (TP) of 10%, 50%, etc.; you need to aim for TPs calculated in thousands of percent or prices that increase by multiples. This way, the profit will be enough to cover all stop losses (SL). For me, the SL for each trade is around 5 - 10 USD, with a win rate of only 10 - 20%, but my TPs are often thousands of USD. You must understand that winning a trade is extremely difficult, so you have to hold on tight.
That's basically it, I will share more later.
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