User X, known as @nobrainflip, claims to have turned $8,000 into $3 million thanks to 15 golden rules which he strictly adheres to.
The trader asserts that understanding market cycles and applying a set of rules helps to achieve decent profits while avoiding the fear of missed opportunities.
15 Golden Rules by @nobrainflip
Lock in profits. The trader emphasizes the importance of timely profit-taking and advises at least partial exits from trades into stablecoins or fiat.
Don't scatter your attention. @nobrainflip asserts that focusing on a few projects will be a much better strategy than chasing all market trends indiscriminately.
Follow narratives. Early involvement in trend narratives, such as artificial intelligence (AI) or real-world assets (RWA), usually yields the best results.
Skepticism is key to success. Independent verification of any information should become a habit for crypto traders.
Minimize tools. @nobrainflip uses no more than 5 core tools, such as Etherscan and DeFiLama. This approach makes his trading efficient and straightforward.
Expand information sources. The trader recommends not limiting oneself to just "Twitter" but using platforms like Discord and YouTube. Such diversification can significantly broaden trading perspectives.
Master the basics. Fundamental knowledge is crucial. Starting to trade cryptocurrencies without understanding the basics is risky and unwise.
Manage risks. Risk management is vital, especially during bull markets. Proper strategies can pave the way for stable success.
Use stop-losses. Stop-losses and loss-cutting are necessary to prevent minor setbacks from turning into major losses.
Keep a trade journal. This useful habit helps track progress and refine strategies.
Ignore excessive complexities in bull markets. According to @nobrainflip, during bull markets, growth is more driven by noise than logic. Understanding this can help avoid erroneous decisions.
Question the safety of stablecoins. The trader warns that stablecoins are not always as safe as they seem, citing the collapse of TerraUSD.
Focus on portfolio size. Concentrating on a few areas can quickly grow a small deposit, while broad diversification is better suited for maintaining larger portfolios.
Consider profits and losses as percentages of the deposit. This approach helps maintain emotional control and clarity in decision-making.
Be persistent. Finally, @nobrainflip emphasizes the importance of persistence. The current market offers plenty of opportunities for those willing to work diligently.
By adhering to these rules, @nobrainflip has navigated the volatile #cryptocurrency market.
Disclaimer
However, it is worth remembering that successful trading depends directly on understanding what is happening and the ability to adapt to constantly changing conditions. Before making investment decisions, conduct your own analysis or research, and remember that you should only invest in cryptocurrencies with money you can afford to lose.