I know an old senior who invested 100,000 yuan in the cryptocurrency market, and now it has a market value of 42 million. He once said something that enlightened me.
He said: "In this market, everyone is a crowd of fools. As long as you control your emotions, this market is a cash machine!
My experience for making money in the cryptocurrency market is this:
1. Don't earn small profits and don't lose big money.
It's just 8 simple words, but it's actually very hard to achieve. For example:
If you invested 20,000 and it rises to 21,000 right after you open the position, you're very happy, you take your profits, making 5%, feeling great, but the market keeps rising to 25,000... you made 5% but missed out on 50%;
Then you tell yourself to earn big money, this time you decide not to take profits, and the market goes back to 20,000. You open another position, and it rises to 21,000 again. You tell yourself, learning from the last lesson, to hold on for big money, but the market goes back to 20,000 and even drops below to 19,500, and you cut your losses.
Many people spend their whole lives trapped in this dilemma, unable to escape.
2. Only choose mainstream coins that have dropped thoroughly and are starting to slowly rise. First, throw in 10% of your position as a base and don’t touch those flashy new coins. Don't guess where the bottom is; wait for it to stabilize before taking action. It might be foolish, but it's solid.
3. Wait until it confirms an upward trend, and add another 20%-30% during the pullback.
While others always think of buying at the lowest point, I prefer not to—I'll increase my position once the trend is stable, even if it's a bit expensive, it's better than getting stuck halfway up.
4. Every time it rises, take out your principal and half of the profit first, and let the rest fluctuate.
No matter how crazy the market gets, sell when it reaches the line you drew. Never be greedy. Money in hand is real profit. Using this simple method, I helped a brother who lost over 600,000 last year not only recover his losses in six months but also gain a BMW X3.
I'm not bragging; the market lacks smart people, but what it really needs are 'foolish' people who can control their hands and endure. While everyone else is chasing highs and cutting losses, you follow the trend step by step, and you can pick up the money others drop.
You can either continue to follow the 'smart path' and lose money, or follow my simple approach—take it steady, don't be greedy, and earn every penny honestly. @Air 安叔