15 Iron Rules for Surviving in the Crypto World That 99% of People Ignore!
1. Cryptocurrencies rise and fall together; the rise in a bull market doesn't need value support, just a reason to rise.
2. Don’t talk about faith with altcoins; if it’s time to cut losses, then cut losses.
3. Time is a friend to Bitcoin, but an enemy to altcoins.
4. The value foundation of altcoins lies in continuous innovation; once innovation stagnates, value will collapse. The value foundation of Bitcoin lies in its immutability; if you're trapped by Bitcoin, there will be a day of liberation, but altcoins may not have that chance.
5. The only assets suitable for left-side trading are Bitcoin and Ethereum; the biggest risk with altcoins is going to zero.
6. At the start of a bull market, it’s healthy for only BTC to be outstanding, so first build a position in Bitcoin and Ethereum, so you don’t miss out on gains and aren’t afraid of being trapped if prices drop.
7. Altcoins have no defensive capabilities.
8. Do not increase your position while prices are rising; position management is important. Test with a light position, and after a rise, significantly increase your position; playing this way makes it hard not to lose money.
9. The positions in Bitcoin and Ethereum should not be less than half.
10. When trading altcoins, one should actively take profits and sell at the right time.
11. If you fall in one place, get up in another; lose money here, earn it back somewhere else.
12. After being trapped, the biggest cost is opportunity cost.
13. The core of trading altcoins is knowing how to sell.
14. Only eat until you're 70% full; fish heads and tails aren't that tasty, leave them for the market makers. Wait for the leading coins to emerge before eating the more certain parts of the fish.
15. When trading altcoins, always use a light position; heavy positions can ruin your mindset, a bad mindset leads to poor operations, and reckless operations result in losses.