As an 'old veteran' who has stumbled through the crypto world for 8 years, I went from losing everything when I first entered the industry to trading with both gains and losses, and now being able to engage full-time in the crypto space. This journey has been full of thorns, stepping over countless pitfalls, and accumulating a wealth of experience. Today, I have condensed these experiences into 8 key points to share with everyone. As long as you can comprehend them deeply, it will be hard to suffer losses in the crypto world! The following are summaries exchanged with real money.
1. Do not blindly catch falling knives without a bottom line! A coin in a downtrend is like free fall; never attempt to pick up bargains during a decline. Catching the bottom is not an easy task; do not be tempted by low prices. When it’s time to let go, let go; following market trends is the correct mindset to stay in the crypto world. The key to buying coins lies in seizing the opportunity, not simply pursuing low prices!
2. No movement in three days? Switch positions decisively! If the coin you bought has shown no movement in three days, don’t wait foolishly; quickly turn to the next target! If you encounter a price drop after buying, and the loss reaches 5%, don’t linger; decisively stop-loss and exit. Protecting your capital is the top priority!
3. The market is generally down, but your coin is holding strong? When the entire market is bleak and everyone is wailing, if the decline of the coin in your hand is minimal, then congratulations! This situation likely indicates that there are whales supporting it. Such coins must be held tightly, as they may bring unexpected surprises in the future!
4. Chasing the leaders is the key to victory! When playing with cryptocurrencies, you must keep an eye on the leading coins, as they have the most rapid growth and the strongest resilience against declines. Never hesitate to chase just because the price is high, nor rush to catch falling knives just because of a large drop. In operating leading coins, adopt a strategy of buying high and selling low to reap substantial profits!
5. Newbie trading, do not over-tinker! Newbies should pay more attention to macroeconomic dynamics. In short-term trading, focus on the 5-day moving average; as long as the coin price is above the 5-day line, continue to hold; once it falls below the 5-day line, withdraw immediately. For mid-term trading, closely monitor the 20-day line with similar operational logic. Trading strategies must be simple and clear, swift and decisive; do not complicate things!
6. Holding cash is not a shame, losing money is truly embarrassing! If you are unsure about the market trend, then hold cash honestly. Don’t blindly enter the market just because your hands are itchy. We come to the crypto world to preserve our capital and make profits, not to fantasize about being a gambling god. In crypto trading, what counts is the success rate and the profit-loss ratio; never force yourself to trade!
7. Halved and fell for 9 consecutive days? An excellent time to buy! If a certain coin has dropped to half its height and has fallen for 9 consecutive days, it can basically be determined that it has dropped as much as it can. At this time, do not be afraid; buy boldly, as a rebound is often just around the corner!
8. Profits should not inflate, trading strategy is fundamental! Making money is nothing to be proud of; a single profit is not impressive. What truly matters is the ability to sustain profits. After each profit, one must seriously review and reflect on whether it was due to personal strength or luck. Building a set of trading rules that belong to you is the only way to stand firm in the crypto world for a long time! Finally, I want to say: after 8 years of ups and downs in the crypto world, these experiences are my solid lessons and gains. I sincerely hope to bring some inspiration to everyone. If you find this content useful, don’t forget to follow, and let’s make a mark in the crypto space together!
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