In financial market investments, we need to have a thorough understanding and awareness of the market. Only then can we survive and thrive in this jungle law.
The mentality is the prerequisite for us to achieve results; our mindset influences our behavior, and our behavior ultimately brings results.
When sharing the winning mentality, the corresponding one is the loser's mentality. So what is the loser's mentality?
The loser's mentality likes to gamble and fantasize, etc.
Specifically, it is manifested in the premise of not understanding anything, engaging in contracts and leveraging, believing that the price of mainstream coins is already so high, and buying a bunch of very cheap air coins.
Little do you know, whether you buy 10,000 worth of Bitcoin or 10,000 worth of a small coin, if it doubles, your profit is still 10,000. What does it have to do with the price of the coin?
After finishing the gamble, I start to fantasize about how much I can earn, and I have already planned how to spend the money before it is safely in hand.
So how does the winning mentality operate?
Before laying out a target, I will prepare very thoroughly, considering fundamentals, policies, funding, news comprehensively, and finally analyzing from a technical perspective to determine if the current market is at a relatively low point to enter. The first time will see how many layers of positions, and the second time will see how many layers of positions.
After entering the market, if the situation does not go as expected, is there a remedial strategy? The trading level set before entering is long-term, medium-term, or short-term.
How to gradually take profits in the later stages, risk control during the process, etc.
Investment is never 100% guaranteed; you must always prepare for the worst and participate in investments with funds within your risk tolerance.
Even if small probability events occur due to market conditions, or even black swan events, they will not affect daily life.
Regarding risk and return, one should have a high level of awareness and understand how every penny is earned and how every penny is lost.
On the trading path in the cryptocurrency circle, we always uphold that ability is greater than our own desires.
Clearly positioning one's own ability boundaries and not being disturbed or tempted by various market news.
Having a trading system suitable for one's own situation, consistently making stable profits in the financial market based on ability.
Rather than relying on luck to make a quick profit in a bull market, only to return both the principal and profits to the market during the subsequent bear market.
These insights stem from my ten years of experience in trading cryptocurrencies, a profound understanding after enduring storms, and I hope they can illuminate your path forward.