After seven or eight years in the cryptocurrency world, I went from losing money to selling my house and renting, to borrowing money and making a million.
Over these years, I have summarized 10 iron rules. As long as you can follow more than 5 of them, you will definitely surpass 90% of the 'retail investors'.
1. When the market crashes and the coin doesn’t drop, it indicates that there are market makers protecting the price.
You should hold onto such coins; a big rise is guaranteed later.
2. As a beginner, remember to look at the 15-minute and daily charts for short-term operations; hold onto the price as long as it stays above the line, and run if it breaks.
Don’t be superstitious about complex technical indicators; simplicity and directness are the way to go.
3. For short-term coins that haven’t moved for three days, decisively switch them out.
If you lose 5%, stop loss immediately; don’t drag it out.
4. If a coin halves from a high point and continues to drop for nine days, a rebound is imminent, so get on board decisively!
Don’t wait until the rebound is obvious to everyone before chasing; by then, it’s already too late.
5. When trading coins, chase the leading ones.
Leading coins rise the most fiercely and resist drops the strongest. Don’t be afraid of their high prices; dare to chase and you can earn.
6. Don’t always think about buying the dip.
Falling coins are like falling off a building, with no bottom in sight. Cut losses when you need to; the trend is the way to go.
7. Made some money and got cocky? Be careful not to fall into a pit.
Making money is easy, but sustaining profits is hard. After each profit, reflect on whether it was your skill or just luck.
8. If you’re uncertain, stay cash.
Being in cash isn’t shameful; losing money is. Trading is about the success rate, not the speed of execution.
9. New coins may be hot in the market, but once sentiment changes, coins lacking fundamentals can easily crash.
10. The cryptocurrency world is powered by consensus.
The value of a coin comes from a group of like-minded individuals behind it, pushing together to ultimately gain wealth.
Ten years in the cryptocurrency world is like a day in life.
These iron rules are not only from my own experiences but also secrets for long-term survival in the cryptocurrency space.
If you want to avoid pitfalls and go further, perhaps, follow my rhythm and let me help you strategize.
Market opportunities never wait for anyone. #何时抄底？ #黄金白银反弹 $ETH $XRP Z$BTC
