Defense, the art of surviving in trading!!!
Warren Buffett once said that the three major secrets of investing are: don't lose money, don't lose money, don't lose money.
In the cryptocurrency market, which fundamentally relies on consensus, it is very difficult to adopt an investment philosophy like Buffett's. Therefore, defense becomes particularly important. There are many ways to defend; the most common advice is not to put all your eggs in one basket, which is a form of defense.
Always respect volatility; don’t stake your fortune on "I think." To survive in the market long-term, you must have a strict defense strategy, such as multi-timeframe validation in technical analysis, strict profit-taking and stop-loss strategies, position management, and emotional isolation in terms of mindset, etc.
High volatility is in the genes of the cryptocurrency market, making defense especially crucial. You might say how great the warrior #凉兮 is, but I want to point out that only a few have emerged in the crypto sector over the years, and as long as he is still in this market, the future is still long.
It's not the smartest or the bravest who survive; it's the ones who are most disciplined.