I once rushed into the coin market, chasing highs and cutting losses. The result was that, borrowing courage and luck, I lost the hard-earned money due to my fragile strength. I had not systematically learned spot trading, taking many detours and wrongful paths! Without strong professional skills and mindset, and without mastering the rules of the coin market, it is very difficult to achieve sustainable and stable profits through trading coins.
After many twists and turns, I ultimately chose to systematically learn the natural trading theory, and also studied data analysis in the coin market, combining volume and price relationship analysis, and finally established a three-dimensional integrated trading system suitable for myself, which is constantly being improved and practiced.
Iron rules and insights for trading coins, hoping to be useful to everyone.
1. Definitely do not chase high prices to buy coins; you must have this mindset: let it grow as much as it wants, treat this coin as if it does not exist.
2. There are only two types of coins: the coins bought at the right points are all good coins; otherwise, they are garbage.
Coins; large-level buying points are the best high-performance coins. Patiently wait for large-level positions of coins to become true high-performance coins; this is the true mindset.
3. In fact, the mindset in trading coins is the most important. Many people clearly know it's not a buying point, but their hands itch and they cannot resist; this is a mindset issue. If this is not resolved, any theory is useless.
4. Your mindset must be stable; do not get emotionally attached to any coin or price point, only look at the market signals. You should have emotions towards buying and selling points. If your skills are good and your capital is large, for instance, if you can trade weekly or monthly, you can build positions in batches and diversify. Then, there is no problem of timing.
5. The reasons for mistakes are always unrelated to the market; to find reasons, you can only find your own reasons. Every mistake must be summarized immediately.
6. The mentality of rushing to make money is a major taboo for us participants in the coin market. If you cannot control your own heart and cannot manage your greed and desires, you cannot succeed in the market for the long term. There are two forms of emptiness: when you hold coins, your thinking is controlled by bulls; conversely, you become a slave to bears.
The market's emotions are accumulated and guided from this. Those who cannot escape this state will forever remain untrue market participants.
7. Trading coins tests long-term profit ability, not the ability to explode once; the key is a long-term effective trading strategy. When buying, consider various situations; be resolute in holding, and even more resolute in selling; only then can you gradually improve.
Is it you trading? Coins don’t trade you; start with yourself.
8. The virtual currency market will only reward those who are patient; any good coin needs to be nurtured. Constantly switching to new coins will certainly lead to small capital and petty gains. Focus on one, those who run around every day will definitely not make big money.
9. Dance to the rhythm of the market; as long as you follow the market's rhythm, you can glide on the edge like a blade. Rhythm is always the rhythm of the market. A market participant without a sense of rhythm will only wait for torment. Set aside your greed and fear, and listen to the market's rhythm. As long as you can follow the rhythm, no one can block you. The market has a rhythm; seize the rhythm of the moment, and no one can defeat you.
10. Those who play with capital must remember that the power of patience is the greatest. As long as you have a good mindset and skills, patiently waiting, holding, and observing is essential; this can overcome everything.
If the above five price action trading rules are used consistently under the correct trading context for a long time, it can significantly improve your trading, thus becoming an advantage.
