To quickly escape being a retail investor in the crypto space and become a 'scalper' in the market, you need to achieve the following seven points:
1. First, adjust your mindset. Treat trading cryptocurrencies as a game; winning or losing doesn't matter. Only in this way can you trade cryptocurrencies easily in the market.
2. Use spare money for trading. The funds used for trading cryptocurrencies must be money that, if lost, won't affect your daily life. Only with spare money can you afford to take risks and let go.
3. Make the most of your time to learn. If you want to trade cryptocurrencies well, quickly understand practical technical indicators and strategies, engage in more practice, and summarize your experiences.
4. Be cautious in your initial trades. Retail investors typically have limited funds, so effectiveness is crucial. Especially for your first trade, you need to prepare meticulously and strive for a successful debut. Before operating, utilize simulation systems for practice; only after gaining some experience should you enter the market. Otherwise, if you enter the market too soon, your funds may be trapped or you might incur losses, which can significantly impact your confidence.
5. Preserve your principal. Trading with the money you've earned will make you feel more relaxed and allow for more flexible operations.
6. Develop your own set of methods. To transform from a retail investor to a scalper, you must avoid chasing highs and over-investing. Always remember that as long as you don't chase highs, the saying 'retail investors become scalpers' holds true. Be good at learning and summarize a set of trading skills that suit you through practical operations; this is fundamental to becoming a scalper.
7. Only trade strong leading cryptocurrencies and concentrate your funds. When trading cryptocurrencies, focus on the leading coins. Diversifying your funds not only increases trading costs but also leads to losing track of each coin's market characteristics, making it difficult to analyze and grasp their trends accurately.