The correct trading philosophy is like living day by day; it needs to be solid and not floaty. Let me say a few honest words:
Living is more important than making money
Don't always think about 'getting rich quickly'; first, ensure you won't be killed by the market. Earning 10 times may not be enough to cover 1 loss, so learn to protect your life first.
Don't be greedy; eat what you can afford.
Seeing others post about making 100 times their investment shouldn't make you envious; it could be edited images or sheer luck. It's enough to earn money within your understanding; don't touch things you can't comprehend.
Planning is more reliable than feelings
Before trading, write clearly: What price to buy? How much to buy? At what profit to run? At what loss to cut? Plan your orders and then go to sleep.
Admitting defeat is not shameful
If you lose, quickly admit your mistake; don't stubbornly hold on. A 10% loss can still be recovered, but a 90% loss is truly fatal.
Don't put all your eggs in one basket
Don't go all in on one coin, and don't just play contracts. For example, use 80% of your money to buy spot, and 20% to play contracts; even if the contract blows up, it won't affect your ability to eat.
Take out your initial investment first when you make money.
If you're really lucky and made a wave of profit, first take out your principal, and use the profit to have fun; at least you won't lose money.
The market is always right; you're just a little brother.
Don't go against the market trend. Even when it's crashing, you insist on 'bottom fishing', ending up buying halfway down. If it's time to admit defeat and short, then short; if it's time to play dead, then play dead; don't think you're smarter than the market.
Do less and observe more
Trading is not clocking in for work; there's no need to buy and sell every day. Most of the time, watch the show, and wait for highly certain opportunities to act.
Don't treat trading as life
If you lose money, eat when it's time to eat, and walk the dog when it's time to walk the dog. Don't get obsessed and stare at the K-line until three in the morning; even if you make money, don't forget about life. Trading is just a tool for making money, not the entirety of life.
Slow is fast
Ordinary people trying to turn their fortunes through trading are likely to lose more the more urgent they are. Honestly invest in Bitcoin, or pick a few reliable coins to hold long-term; it's more likely to make money than messing around with contracts every day.
Lastly, a heart-wrenching truth: most people are simply not suited for trading. If you find yourself anxious every day, unable to sleep, and wanting to smash your phone when you lose money, it's best to stop early. Working, starting a small business, or learning a skill might be more reliable than giving your head to the crypto market.
(This content is for the education and exchange among crypto enthusiasts. Please view it rationally, establish the correct philosophy, and enhance risk awareness.)
