Many people have failed in the cryptocurrency world, not due to a lack of skills, but because of their obsession with 'turning things around overnight.'
In fact, the logic of making money in cryptocurrency is very simple; the hardest strategy is not to predict the market, but to master it with iron rules.
After 7 years of experience, I have summarized three major taboos and six key operations. Stick to the bottom line, and even the big players will find it hard to deal with you.
Three major taboos: Encountering any of them will lead to losses.
1. Avoid chasing highs and selling lows. When the market is hot, blindly entering often means standing at the peak. Skilled traders do the opposite: they pick up chips when others are panicking and quietly leave when everyone is excited.
Remember, when the market software is all in the red and everyone is excited, that is precisely the opportunity to buy low.
2. Avoid putting all your money into a single coin. Never put all your funds into one coin; keep 30% cash reserved to have the power to buy more when prices drop and the ability to increase your position when prices rise.
3. Avoid over-leveraging positions. Positioning is fundamental for survival; even if the market is good, never go all in, and avoid even 80% positions. Leaving room is essential to seize opportunities.
Six key points: Mastering any one of them will lead to profit.
1. Consolidation waiting for a breakout: The market is most prone to panic when it is bottoming out; in reality, the longer it grinds, the clearer the breakout signal becomes. Only enter when the direction is clear.
2. Horizontal trading hides traps: A sideways market is not stable; it either builds up power for a breakout or sets traps. Patience is worth more than impulse.
3. Contrarian trading: When others panic during a downtrend, I position myself; when others are greedy during an uptrend, I exit. Timing is key.
4. Hidden opportunities in sharp declines: Slow declines are hard to reverse; sharp drops are easy to rebound.
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