In the cryptocurrency world, newcomers are often cut down every day. How can one firmly establish themselves in the crypto space?
I too have had my moments of success in the crypto world,
At that time, I would say I had firmly established myself in the crypto space. Of course, compared to those big shots in the crypto world, this might just be a drop in the bucket.
Many people say: The longest road I've walked is the tricks of the crypto world. Many enter the crypto space with the attitude of making money, not realizing that in reality, only 10% of people make a profit, while the remaining 90% become pitiful victims. So, how can we become part of that 10% making money? Let's find out.
1. When the price of a cryptocurrency enters a stable upward channel, each pullback is just a temporary stop, which is a good opportunity for us to get in. There are no cryptocurrencies that rise indefinitely; a pullback is like a compressed spring, ready to jump higher.
2. If it enters a confirmed downward channel, any rebound is an opportunity to exit. Once the trend deteriorates, it might take a long time to rise again; don’t resist losses and don’t waste your time.
3. Short-term fluctuations depend on emotions and fundamentals. Over the long term, don’t focus on immediate small gains; the current market sentiment is in place, and the fundamentals determine the length and breadth of the rise.
4. Manually judged bottoms are usually not the bottom but merely halfway down. The true formation of a bottom depends on emotions and capital, so never blindly catch the bottom; often 9 out of 10 times you end up trapped.
5. Don’t overly rely on good news; real market movements play on expectations. Many retail investors like to listen to news to trade cryptocurrencies, but most of what you hear is what others want you to hear. Even if it’s true, you don’t know how many hands it has passed through, and by the time you find out, the market is often about to end.
6. Don’t casually increase leverage; this won’t improve your winning rate. Once you incur losses, the values can be magnified infinitely, so don’t increase your risk yourself.
