To quickly escape the role of a 'retail investor' and become a 'whale' in the cryptocurrency market, one needs to achieve the following 7 points:
1. Adjust your mindset first. Treat trading as a game; it doesn't matter whether you win or lose. Only by doing so can you trade freely in the crypto market.
2. Use spare money for trading. The funds used for trading should be spare money that won't affect your life if lost. Only by using spare money can you hold on and let go easily.
3. Make the most of your time to learn. If you want to trade well, quickly understand the practical technical indicators and strategies, engage in more practice, and summarize your experiences.
4. Be cautious in your initial trades. Retail investors typically have limited funds, so effectiveness is crucial. Especially for the first trade, prepare meticulously to strive for success. Before executing, make good use of simulation systems to practice, and only proceed after gaining some experience. Otherwise, entering the market could lead to being trapped or forced to sell at a loss, which can significantly damage your confidence.
5. Preserve your principal. Trading with the money you've earned will make you more relaxed and allow for more fluid operations.
6. Summarize your own set of methods. To transform from a retail investor to a 'whale,' eliminate the mindset of chasing highs and over-investing. Always remember: as long as you don't chase high prices, you can become a 'whale.' Be adept at learning and able to summarize a set of operational techniques that suit you through practical trading; this is fundamental to becoming a 'whale.'
7. Only trade strong leading coins and concentrate your funds. If you are going to trade, you should focus on the leaders. Spreading your funds not only increases transaction costs but also leads to missing out on opportunities, making it difficult to accurately analyze and grasp the characteristics of each coin's market.
Master Dao has traversed the market for many years, deeply understanding its opportunities and traps. If your investment isn't going well and you feel unsatisfied with your losses, leave a 999 in the comments! Unchanging shares insights.
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