Profit means sticking to the trend orders that others have given up, seizing the opportunities that others don't want, and doing what others dare not do. There is only a lack of persistence in investment, but no complete failure. The same is true for trading. You were originally optimistic about a direction, but with the fluctuation of the market, you changed your original direction. You were originally bearish, but because the market rose a little, you got out and made a long order. In the end, you missed the downward trend and suffered losses against the trend. Such examples are countless in trading. Any success requires persistence.
So what are the four mentalities and five skills that a successful cryptocurrency trader should have to survive in the market for a long time?
1. Don’t be complacent when you make a profit
A proud person will always destroy himself in his pride. In the process of investment and financial management, if a person is proud and complacent because of the profit he has made, there will always be a day when he loses money. The reason is that a proud and complacent person will not listen to other people's opinions and suggestions because of the little achievements he has made. Even if the market changes, he will believe in himself unilaterally and think that his decisions are all right. At the same time, he will neglect to prevent risks and may suffer losses in the end.
2. Don’t rush to make up for losses
It is normal to have gains and losses in cryptocurrency trading. Now that we have talked about profits, let’s talk about losses. Profits will make some people proud and complacent, while losses will inspire many people’s desire to make a comeback. But making a comeback also depends on the timing. If you are eager to make a comeback, you will make unwise decisions. For example, some people are eager to make a comeback and bet all their funds on a stock that seems to have a lot of "money prospects". However, the market has always been uncertain and uncontrollable. If the stock falls, not only will you not be able to make a comeback, you will also lose more.
3. Don’t be greedy for quick results
Accumulating wealth through speculation and financial management is a long process. If you are greedy and want to make money quickly during this process, it is basically impossible to achieve wealth growth. Because these two mentalities will make people blindly pursue profits, and when faced with high returns, they will lose their rationality. But high returns mean high risks, and blind investment will only lead to failure. Only by pursuing stable growth of wealth can we balance risks and profits.
4. Don’t worry about gains and losses
Yingying believes that investors who are worried about gains and losses often struggle for a long time before investing, fearing that their money will be lost. This mentality will become more obvious after they finally make up their minds to invest. As long as they see the balance in their account decrease, they will become anxious and irritable. If it decreases too much, they will either withdraw their funds or ask for gossip, hoping to make a quick comeback, but they will basically end up with losses in the end. At the same time, if they hear news that the platform has run away or that it is difficult to withdraw cash, they will also worry that their investment is not safe. Even if there is no problem with their platform, they will choose not to invest anymore, and then it will be difficult to continue on the road of investment and financial management. If you can't adjust your mentality well all the time, it will be difficult to see the situation clearly. Once your investment mentality is stable, let's talk about the cryptocurrency trading skills you want to know:
1. Use technical indicators but don’t get bogged down in them
There are countless technical indicators in the K-line chart. Sometimes learning too many indicators will disrupt one's objective analysis. The ultimate goal of learning these indicators is to use these indicators to obtain the information you need. If you get the required information from a certain indicator, then you don't need to worry about other indicators. There are many indicators in the K-line chart that have similarities.
2. Go with the flow.
Those who follow the trend will prosper, those who go against it will perish. In terms of investment, you should follow the trend. Grasping the big trend is like boarding a spaceship, which will quickly take you to a high place, and it is difficult not to make money. On the contrary, if you do a counter-trend operation, especially a big market, you will fall into a bottomless pit, which can never be filled, and investors will be deeply trapped, which will directly cause huge losses. Therefore, grasping the trend is more important than anything else.
3. History will not repeat itself, but there are lessons to be learned
At the technical analysis level, sometimes we can indeed capture clues from historical data. The market cycle law will never change, and other markets are actually the same. They will go from the adjustment period to the growth period, the growth period to the mature period, and then from the mature period to the recession period, and so on. Therefore, historical data can be considered comprehensively in technical analysis.
4. In-depth analysis of the news.
There is a lot of information transmitted in the currency market every day, so it is very important to deeply analyze this information. As a qualified investor, the most basic thing is to learn to distinguish the authenticity of information, especially some half-true and half-false news is very misleading, and sometimes a piece of news will directly affect the directional judgment of the market. Summarizing experience, I found a set of methods that suit me.
5. Summarize your experience and find a method that suits you
It is better to retreat and weave a net than to watch the fish in the pond. How can you get the tiger cub without entering the tiger's den? We always envy others for how much money they can earn by investing in the currency market. We always watch others operate enthusiastically, but we dare not enter the market for fear of losing all our money after entering. Qingtian advises everyone here that if you have enough knowledge and enough skills, how many chances can you have in your life to fight? The two major factors that dominate the market, technology and news, are topics that investors have been arguing about. Is it technology that dominates the market or news that dominates the market? In fact, it is not. It is the human heart that dominates the market. Without profit-driven and greedy actions, there will be no traps and fights. To operate in the market, you must be well versed in the ways of attack and defense, so that you can be as stable as a rock when you are in the wind, and be able to turn danger into safety when you are in a trap.
Again, if you give me trust, I will repay you with profit!
If you are already in it and not doing well, you can come to me and I will help you and will not let you make the same mistake again; if you have been struggling in this market but are bruised and battered, you may as well come to me and I will be confident to help you regain your confidence.
The magic order I have been preparing for these few days is about to be launched!!!
Comment 168 on board!!!
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