I am 32 years old this year; I started trading coins at 22. By 2023-2024, my funds reached eight figures. My current lifestyle involves staying in high-end hotels costing around 2000 yuan, and I might carry luggage and hats with coin circle symbols. This is much more comfortable than what the older generation experienced in manufacturing or the 80s generation in e-commerce.
I have rarely experienced business disputes, and my worries are few.
The most important aspect of trading coins is having a good mindset; technical skills come second.
I have been in the coin circle for 10 years, starting with an 85% loss to trading coins for a living. I have tried almost every method. If you want to say what truly helped me out of confusion, it has to be the ten maxims I summarized myself, which actually apply to most people. Reading them can at least save you several years of detours, especially the tenth maxim!!!
One important word in the coin circle: Endure.
Two important words in the coin circle: Avoid greed.
Three important words in the coin circle: Maintain discipline.
Four important words in the coin circle: Rational layout.
Five important words in the coin circle: Follow the main players.
Six important words in the coin circle: Focus on value.
Seven important words in the coin circle: Focus on what you understand.
Eight important words in the coin circle: The market is the best teacher.
Nine important words in the coin circle: Rationality, moderation in entry and exit, and strategy.
Ten important words in the coin circle: Good mindset, no hesitation, endless learning.
Stick to these ten principles for trading coins; you will definitely reap great rewards in the end.
First, do not easily let go of low-priced chips, maintain firm beliefs, and prevent market manipulators from colluding to drive prices down.
Second, chasing prices and making full withdrawals is always a taboo. When the overall trend is favorable, gradually building positions during downturns poses lower risks, costs less, and yields greater profits.
Third, allocate profits reasonably to maximize the release of funds, rather than continuously adding to positions.
Fourth, when there is a rapid price increase, take out your capital; when there is a rapid price drop, hold your coins. Always maintain a positive mindset, avoid speculation, restlessness, greed, and fear; do not engage in unprepared battles.
Fifth, the low-priced coins from pre-emptive purchases or private placements rely on experience and market manipulators, while the subsequent secondary market speculation relies on techniques and information to follow the manipulators. Do not reverse the order of importance, or it will end in chaos.
Sixth, when building positions and taking profits, you must layer and segment them, gradually widening the price gap to effectively control the ratio of risk to profit.
Seventh, be familiar with the correlation effects; when trading coins, watch the market trends, and also pay attention to the movements of other coins. Each coin does not exist in isolation in the overall market; seemingly unrelated, they are actually intertwined. Understanding the correlation effect requires knowledge of the coins, and there are many tools available now to check coin information and seek advice.
Eighth, allocate assets reasonably; the allocation of hot coins and value coins should be reasonable. Pay attention to the ratio of stress resistance to profit intake. Being too conservative may lead to missed opportunities, while being too aggressive may face high risks! The biggest feature of value coins is stability, while the biggest feature of hot coins, especially those with severe volatility, is that they can rise dramatically or drop to zero in one battle.
Ninth, having coins in the market, money in the account, and cash in the pocket is the safest and most reassuring standard configuration. Do not go all in; going all in is a sure way to fail. Grasping risk control and reasonable allocation of funds is key to your mindset and success or failure. Investing spare money is fundamental.
Tenth, master basic operations, learn to draw inferences from one instance, grasp the basic ideas of trading, observation is a prerequisite, remember the highs and lows each time as reference data. 'Learn to record, learn to summarize materials, develop reading habits, and cultivate the ability to filter and select information.'
Finally, remember that although we are also speculating and trading coins, we are definitely not gambling on coins. Amidst the chaotic information, distill the essence, adhere to your principles, and you will surely reap great rewards.
Summary: Trading coins is not easy; it requires comprehensive consideration of various factors. Starting from choosing capacity trends, to paying attention to policies, trading volumes, and then strictly executing stop-loss and take-profit strategies, diversifying investments, every point is crucial. Investors should continuously learn and practice, integrating these secrets into a system suitable for themselves while maintaining a good mindset. Steadily moving forward amidst the fluctuations in the coin circle will improve the probability of making a profit and achieve stable asset growth.