Do you have vision? With vision, you hold on until you are satisfied with the profit before selling. Without vision, you can exit at any time with profit.
In the past two years, hundreds of days and nights spent researching various charts and patterns, summarizing simple and replicable trading methods, and practicing trading thousands of times.
Today I will share my trading strategies and insights with fellow crypto enthusiasts.
No matter whether you are a beginner or not, there is a saying: Standing on the shoulders of giants allows you to save ten years of hard work.
For those who are fortunate to see this and want to improve their trading skills, be sure to read carefully and I recommend saving this!
10 top mindsets that can make big money in cryptocurrency.
In this rapidly changing crypto world, to achieve significant results, one must learn to self-update and actively seek change. Upgrading one's mindset is the best way.
Self-iterative approach. Charlie Munger said: When the probability of success is very high, go all in at that moment.
Not sleeping well is not due to heavy positions, but a lack of confidence in your assets or excessive leverage. Who among those buying houses isn’t exhausted?
Heavy positions in wallets, yet still sleeping soundly. Except for those trading real estate, there is no essential difference between trading real estate and trading coins; as long as leverage is high, no one can sleep well, especially now.
Common characteristics of frequent losses in the crypto circle, how many apply to you?
1. Frequent trading not only increases transaction costs but also makes it easy to be influenced by market fluctuations in mindset.
2. Chasing and adding positions when prices rise: Lacking a clear investment strategy can easily lead to buying high and selling low.
3. Holding onto losses without stopping them: Failing to stop losses in time can lead to greater losses.
4. At the beginning of a downtrend, blindly and frequently averaging down: Averaging down when the trend is unclear carries significant risks.
5. Holding coins for a short time: Price fluctuations in the short term are significant, making it easy to miss long-term rising opportunities.
6. Chasing after rises and cutting losses on declines: Trend-following operations without a clear plan are easily swayed by market emotions.
7. Frequently switching coins: Constantly switching coins increases trading costs and makes it difficult to accumulate deep research experience.
8. Holding too many types of coins: Diversifying investments can reduce risks, but managing too many types increases difficulty, making it hard to focus on in-depth research.
9. Listening for news everywhere: Blindly trusting news can lead to misguidance and a lack of independent judgment.
10. Stubborn and self-satisfied: Unwilling to learn and accept new knowledge, easily falling into one's own cognitive biases.
11. Lacking decisiveness: Lacking decision-making ability at critical moments makes it hard to seize opportunities.
12. Afraid to buy at the bottom and reluctant to sell at the top: Lacking judgment and execution ability in the market.
13. After multiple failures, not sticking to the original model: Frequently changing strategies leads to a lack of systematic approach. Content with small gains: Satisfied with short-term profits, ignoring long-term potential.
