After trading for 9 years, I turned 300,000 into over 9.6 million at my peak, but I also experienced a week of losing it all. I felt despair for half a year. Suddenly returning to square one, I re-entered the crypto world, opened a new account, and turned 50,000 into what I have now. In fact, the so-called trading enlightenment is to remain calm and composed regardless of market conditions, inner state, or profit curve!
I have used 80% of the methods and techniques in the market, but the most practical is still bottom-fishing! Today, I will share everything, which will surely help you achieve wealth from recovery to profit!
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If you want to become an expert in trading coins, you must first get started! If you can do the following points, starting out shouldn't be a problem.
1. Be absolutely honest, don't deceive yourself.
The crypto world may be the fastest place in the world to face reality; it does not tolerate lies and self-deception. Only those who are sufficiently honest can survive here.
If the crypto world has taught me anything, it is that honesty is backed by courage, and courage is the noblest quality in the world. Many people's lives are filled with deceit, cunning, and lies, losing the courage to face themselves honestly, creating a perfect explanation system of 'everything is someone else's fault.'
First, clarify why you are buying cryptocurrency and why you are selling virtual coins.
When you buy in, did you genuinely understand its fundamentals, or did you act because of a certain big V's article on Xueqiu, or because you heard some 'inside information' from a distant relative of your elementary school classmate, or did you jump in because it has recently surged?
When you sell, is it because the fundamentals have changed, or because you are scared or worried after a drop, or because you lost patience seeing others rise?
This is actually a very basic question. Most people can't make money in the crypto world not because of technical issues but because they haven't passed the first hurdle.
2. Know what you are doing at every moment, develop a system and style.
When you can honestly face your own trading logic, you need to further improve your trading system.
If you are a long-term investor, you should look at the fundamentals. For you, fundamentals are the only measure. If you are a trend investor, you should look at strength and trends. For you, trends are the only measure.
3. Willingly accept the shortcomings and risks of every system.
In this world, there is no perfect trading system; each trading system has its flaws and risks.
If you are doing long-term investment, it can be extremely lonely, watching other hot sectors rise while you might face huge losses due to misjudging the fundamentals.
4. Patience is very important.
If you are a long-term investor, and you are optimistic about a sector and several coins, but they keep falling, while other sectors are hitting new highs every day, what should you do?
If you are a trend investor, but the recent hot stocks are not trending, and every time you see a breakout, you buy in only for it to pull back the same day, will you still stick to your trading system?
5. Have a position and stop-loss system.
Because there is no perfect trading system in the world, you must have a position control and stop-loss system.
Buying a coin with all your funds and facing a 40% loss is something only a novice would encounter. First, you shouldn't have invested all your funds when you bought it; secondly, you should have set a stop-loss when it dropped.
6. Have the spirit to gamble and accept losses.
You are optimistic about a coin long-term, but the price keeps falling. You firmly believe the market is wrong, buying more as it falls, only to find out in the end that the market was right and you were wrong; the fundamentals of the coin have deteriorated, but you just didn't know it.
At this moment, you shouldn't complain. You guessed the wrong direction, leading to losses; the coin was your choice, and the decision to hold firm and buy more as it drops was yours. At this time, you should acknowledge your mistakes and stand firm.
For most people, achieving the above is not to say that they can make a fortune, but they are certainly not far from making money.
If you don't plan to leave the crypto world for the next three years and are determined to treat trading as a second career, you must read these 9 iron rules. What I share is practical advice for making a living from trading coins, and I believe that after reading it, you will avoid many detours.
Finally, there are a few experiences to share together!
First, be clear about the market rules you are in.
However, in the crypto market, with transaction fees, you have already lost the probability when you enter the market, so you must expand the time frame and volatility to reduce the impact of fees. Don't underestimate transaction fees; they are a significant reason for the failure of the coin-flipping theory.
So in the crypto market, my trading frequency has dropped to several dozen trades a year. I calculate my trading volume this way: two separate entries count as two trades, not one for entering and exiting.
Second, find your own trading method, only act in familiar situations.
We have many methods for entering and exiting the market, and many indicators to use. However, the more methods there are, the easier it is to make mistakes. The simpler and more singular the method, the more it can ensure winning rates. I remember when we were being trained, the teacher didn't teach methods at all; he said everyone has their own method, and you can't teach what you can't learn. I belong to the mid-level traders; I don't make big money, but I never lose money, and I have a stable return every month because my trading method seeks stability. Clients also prefer traders like me who can earn steadily without causing significant losses.
Some people like to trade trends while also trying to catch reversals; these are two different ways of thinking, increasing the chances of making mistakes. Personally, I am best at trading reversals, so I will only wait for opportunities that belong to me, ignoring the rest.
Third, buy low and sell high.
The simplest principle is this: this year, when pork prices rise, everyone goes to raise pigs, and next year, pork prices will definitely fall. The market is cyclical; after a downturn, there will inevitably be prosperity. During periods of market stagnation when everyone is afraid to enter, gradually build your positions; raise pigs when pork is cheap, and sell when prices rise. It's that simple.
Fourth, capital management.
If you want to fight a protracted battle, don't invest all your funds into the battle at once. If you want a quick resolution, make full use of your funds.
Control your risks. Trading institutions have risk control officers to forcibly close positions. However, due to different trading methods, traders face varying degrees of losses. If you are trading trends and have lost 10%, then it is clearly wrong; acknowledge the mistake and exit quickly. If you are trading reversals, a 10% loss is quite normal.
That's about it. There's no point in saying more. The best traders in this world have gone through great storms and challenges. I have traded what you've traded, and I have traded what you haven't. Each of the hundred thousand trades is grounded in real experience. In trading, making money is always easier than keeping it. After making a profit, not being able to secure it is a big problem.
Technology is the foundation of survival. Teaching a man to fish is better than giving him fish. Making a small investment to gain a large return is the true charm of investing; holding onto assured profits is the essence of financial management!
Hello everyone, I am Guǐyǎn. I have navigated the market for many years, deeply understanding its opportunities and traps. If your investments are not going well and you feel dissatisfied with your losses, +Guǐyǎn will bring unexpected gains!!! It may help you achieve your first goal in life!!!
