In the tumultuous sea of the cryptocurrency world, true experts do not rely solely on technology but rather on a profound understanding of market rules and strict adherence to them. Here are their six iron rules that will allow you to navigate the world of cryptocurrency trading with ease and manage risks effortlessly!
1. The market is unpredictable, and mindset is key: Don't declare peaks when prices rise, and don't assert bottoms when prices fall. Just like whether Bitcoin can reach 150,000 USD, only the market frenzy can reveal the answer. What you think is a bottom may just be a brief pause; the true bottom is always unfathomable.
2. Build positions in batches, stability is key: Experts never rush to achieve results when building positions, controlling each buy and sell within one percent. This strategy provides more opportunities for trial and error, lower costs, and reduced risks.
3. Dare to chase highs, achieve greatness: In the cryptocurrency world, fearing heights is the fate of the unfortunate. It is essential to understand that the cost for the main players in a cryptocurrency is far more complex than you might imagine, including promotional costs, chip costs, development costs, and so on—these are investments that are several times or even dozens of times higher. Therefore, daring to chase highs is necessary to seize real opportunities.
4. Bull markets are opportunities not to be missed: Bull markets are the only chance for a comeback. Just like Buffett, no matter how smart he is, if he misses the bull market, he can only wait quietly in the bear market. Therefore, in the cryptocurrency world, seizing the bull market is seizing the key to wealth.
5. Technical indicators are for reference only: Technical indicators often have lagging properties and can only serve as references rather than the main basis for buying and selling. During strong upward trends, while technical indicators may look good, prices may already be high, so chasing after prices requires caution.
6. Be confident and unafraid of the market: True cryptocurrency trading experts are filled with confidence. They have experienced losses but have never been defeated. Because they firmly believe that they will eventually overcome the market, this belief is the key to their success.
Trading cryptocurrencies is not only a contest of technology and luck but also a test of mentality and wisdom. Only those who master these iron rules and strictly adhere to them can remain undefeated in the cryptocurrency world!
These are lessons learned from real trading experiences. Behind each lesson is a period of hardship. The purpose of sharing them today is to help everyone avoid detours. It is essential to take them seriously!
I accidentally came across the cryptocurrency trading industry in 2015.
At first, I lost hundreds of thousands just like gambling.
But later, I began to study seriously, searching for information everywhere, learning relevant knowledge, and continually improving my abilities.
After years of ups and downs, I finally welcomed a turning point in 2024.
I have begun my path to a comeback. In just over two years, I have grown from 100,000 to an eight-digit figure!
My ability to maintain stable profits in investments, in addition to the techniques mentioned above, strictly adheres to the following fifteen principles:
I hope my experiences and skills can help you walk more steadily on your investment journey and achieve gradual wealth growth. Let's all work hard together!
The most practical tip for short-term trading in the cryptocurrency world is to get straight to the point and share a set of basic techniques for trading cryptocurrencies that I have learned over the past decade.
Perhaps some people will say that short-term trading is speculation!
First of all, I want to say that short-term trading is not speculation. True short-term trading is an investment behavior that requires a mastery of certain market operating rules and strong skills. Short-term trading really tests a person's skills and patience. Those who are proficient in short-term trading must have seen many candlestick charts, studied their trends, and summarized general rules. The rules mentioned here can only be a concept from a probabilistic perspective, as there can never be completely accurate judgments. The entire market unfolds in multidimensional aspects like emotions and information, and the most difficult to predict is emotion. Therefore, we can only attempt to make rough judgments.
How to do this specifically? We need to learn to summarize historical trades and identify the conditions that occurred in those trades to understand the trends that follow. In this process, the role of candlestick charts is irreplaceable. Besides reflecting short, medium, and long-term fluctuations, the most overarching aspect is that they can tell you which projects manage their market capitalization well and which projects fail to recover after being dumped, merely cutting profits for retail investors. For example, we have mentioned several times before that there are many forked coins of BTC, but in reality, except for BCH, the candlestick charts of other forked coins are not worth looking at.
The candlestick charts of these forked coins started to decline from the beginning, showing basically no fluctuations, sliding down like a slide, giving no opportunity for retail investors to escape. From their candlestick charts, it can be seen that the market makers no longer hold a large number of coins; these coins are concentrated in the hands of retail investors. Therefore, no one is driving the price up, and it has basically become a legacy. Many retail investors trading these coins have gone from short-term trading to medium-term, from medium-term to long-term, and from long-term to a legacy.
As novice investors in the cryptocurrency world, we need to pay attention to several points:
1. First ensure the probability of success, then consider the frequency of execution. Pursue quality before quantity. In the process of short-term trading, take it step by step, with the principle of avoiding large losses.
2. Be content when making money, and be rational when losing money. Trading cryptocurrencies is essentially an art of regret; we cannot set our expectations too high.
3. Practice leads to true knowledge. If there are experts to guide you, consult them; you will progress much faster.
