I have been in the cryptocurrency space for ten years. Six years ago, I quit my job to trade cryptocurrencies. From being in debt to becoming rich, what truly changed me was a night five years ago. A senior mentor's words struck me deeply, helping me to clarify my position and understand the eight major phases that cryptocurrency investors must go through. By constantly comparing myself to this and using it as a mirror, I finally regained everything I had lost! Perhaps in the eyes of some, retail investors will always be the lambs waiting to be slaughtered!
If you are ready to enter the cryptocurrency space, I sincerely hope this article can help you. As someone with decent summarizing skills and expression, I believe some of my thoughts may be helpful to you. Alright, enough with the small talk, let's get straight to the point~ When it's hard to make a selling decision in trading, ask yourself: If your analysis is correct, then why is the market moving in the opposite direction? The only reason is that you are wrong, because the market does not make mistakes! After ten years of ups and downs in the cryptocurrency space, from huge losses to substantial returns, I have summarized the following trading disciplines and insights.
In summary, trading systems designed primarily around moving averages usually have lower win rates and higher drawdowns. Therefore, I recommend that everyone mainly use moving averages to judge market trends. You can grasp entry positions through B and C structure patterns, while A structure patterns and their derivatives are not recommended for entry to avoid potential risks. At the same time, try to avoid using D structure patterns for entry. Moving averages can also serve as a method for trailing stop losses to help manage risk.
The reasons for missing out can be summarized into four common problems. First, we are often lazy and averse to trouble; even when we see Bitcoin's price continually reaching new highs, we are unwilling to actively understand it. We wait to see the joke while holding a mindset that it could crash at any moment. The root of this mindset lies in our not having a strong desire for money, which results in us missing various opportunities. Second, we have an innate resistance to new things.
We always like familiar things and instinctively resist unfamiliar things. However, if we can combine the unfamiliar with the known and familiar, transforming it into something we recognize, we can more easily accept new things.
However, most people blindly criticize and mock Bitcoin without understanding it, thinking it is a bubble. This behavior undoubtedly leads us to miss out on opportunities to get rich. Only when we fully understand and recognize the value and potential opportunities of new things can we make informed decisions. Furthermore, there is the spirit of risk-taking, or a gambler's mentality.
Even when we fully recognize Bitcoin's investment value, we still fear failure and are reluctant to invest too much capital. This mindset limits our investment scale and potential returns.
We always tend to listen to others' opinions instead of delving into new things ourselves. This behavior not only causes us to miss out on opportunities to get rich but also limits our personal growth and development. If we cannot overcome these issues, even if another opportunity to get rich arises, we are likely to miss it.
Opportunities are reserved for those who are prepared!
Only by seizing opportunities can one succeed!
What are you still hesitating for!
