After 8 years of ups and downs in the cryptocurrency world, here are 8 golden rules:
1. With limited funds, strategies should be precise. Focus on holding one cryptocurrency under 100,000; for 200,000 to 300,000, play with two coins; and for under 500,000, three to four coins are sufficient. No matter how much capital you have, do not exceed five coins.
In a bull market, concentrate your efforts; in a bear market, keep it light, and it’s better to exit quickly if you incur losses.
2. Stay updated with news and learn techniques to increase your chances of winning. Remember, trends are king: rebounds during downtrends often deceive people into entering; pullbacks during uptrends might be traps waiting for you to jump in. Don’t always think about bottom fishing, and don’t guess what the main players are thinking.
3. Take action only when the market is lively; be flexible and avoid rigidity.
4. If you incur losses, set a fixed stop-loss point; don’t keep averaging down as losses increase. If you make a profit, gradually raise your selling price to avoid losing gains.
5. Buy quickly, sell decisively; hesitation will lead to defeat.
6. Before increasing your position, ask yourself: Given the current situation, would you still want to invest new money? If yes, then add to your position.
7. Don’t get obsessed with short-term speculation; small fluctuations can easily disturb your mindset. Big money should follow the big trends.
8. A significant drop does not mean you can bottom-fish; only about 20% of the market makes money.
Finally, the test of a bull market is not just about price fluctuations, but also a test of our mindset. In the face of account changes, we must remain rational. Next, I will announce the next tenfold potential coin internally! It’s better to grasp opportunities than to guess! Like + comment, and feel free to share.
