After ten years of cryptocurrency trading, with half profit and half loss, the eight iron rules I have summarized are indeed very valuable, especially for newcomers. The following is a further interpretation and suggestion of each iron rule:
(Strategy Zhuye Jianjie)
Don't rush to get on the train:
When you first enter the cryptocurrency circle, you must stay calm. Learn basic concepts, such as blockchain technology, the uses and characteristics of different currencies, and the basic rules of market transactions. Only by mastering certain knowledge can you gain a foothold in the market and avoid blind investment.
Be careful not to chase ups and downs:
The market is extremely volatile, and chasing ups and downs often leads to buying high and selling low, resulting in heavy losses. You should develop the habit of reverse thinking, look for opportunities during the market cooling period, and stay vigilant during the market overheating period. Combine technical analysis with fundamental analysis to find reasonable buying and selling opportunities.
Don't bet all your money on one thing:
Diversification is an important means of risk management. Choose different types of currencies, such as some stablecoins, mainstream currencies and potential currencies, to build a diversified investment portfolio. In this way, even if a part of the investment suffers a loss, it will not be a total loss.
