I am 32 years old this year, I started trading cryptocurrencies at 22, and by 2023-2024 my funds reached 8 figures. My current lifestyle involves staying at high-end hotels costing around 2000 yuan. It is much more comfortable than the older generation engaged in traditional industries or the post-80s involved in e-commerce!
As an old trader with 10 years of experience in cryptocurrency trading, I am unafraid of the ups and downs, having navigated through bull and bear markets. My survival in the market relies on these 5 laws, which are a summary of my years of experience! Take your time to read through, fill in the gaps, and I believe you will gain something valuable!
1. Rapid rise and slow fall indicate accumulation.
A quick rise but a slow decline indicates that the big players are accumulating positions, preparing for the next round of increases.
2. Rapid fall and slow rise indicate distribution.
A quick decline but a slow rise means that the big players are gradually selling off, and the market is about to enter a downward cycle.
3. Don't sell when there's high volume at the top; run quickly when there's low volume at the top.
High trading volume at the peak could mean further increases; however, if the trading volume at the top shrinks, it indicates insufficient upward momentum, so exit quickly.
4. Don't buy when there's high volume at the bottom; continuous volume increase is a buying signal.
High volume at the bottom may be a continuation of the decline and needs observation; continuous volume increase indicates that funds are continuously entering the market, which may be a buying opportunity.
5. Trading cryptocurrencies is about trading emotions, and consensus is reflected in trading volume.
Market sentiment determines price fluctuations, and trading volume reflects market consensus and investor behavior!
Changing even a little isn't glamorous; it can be painful.
Every step forward, every lift of the leg comes with soreness. Only by tearing away the old muscles can stronger muscles grow. Shattering the original understanding allows for the reconstruction of a new self. The cycle of charging forward and retreating in despair repeats, it's hard to endure, and ordinary people simply cannot take it. Even worse, some people don't even have the opportunity to change.
Respect the market, continuously learn and delve deeper into research, keep optimizing systems and learning new knowledge, and never think you are good enough or invincible! Only by maintaining vigilance and always considering different situational changes can one become the ultimate winner in this market!
Successfully recouping losses and doubling the account. Stay close to the past, position yourself early, and enjoy the big gains!!!
Continued attention: LA RVN
