1. A sharp drop is a touchstone for high-quality coins. If the market crashes and your coin only slightly drops, it is evident that the big players are supporting it, refusing to let it fall. Therefore, you can hold such a coin with confidence; a reward will surely come.
2. If a beginner does not know how to buy and sell, the simplest and most direct method is to hold above the 5-day moving average for short-term trades. Sell if it breaks below the 5-day line. For medium-term trades, hold above the 20-day moving average, and sell if it breaks below the 20-day line. There are many methods, and the best one is the one that suits you. The difficulty in trading is not the lack of methods; it's the lack of execution. Mindlessly sticking to one method can work for over 90% of people. Simplicity is the ultimate sophistication.
3. Once a main upward wave is established without significant volume increase, intervene decisively. Hold onto your coins during volume increases, and if the downward trend with low volume breaks, reduce your position quickly.
5. If there is no volatility three days after a short-term buy, consider selling. If the price drops after buying and loses 5%, cut your losses without hesitation.
6. If a coin drops 50% from a high position and continues to fall for 8 days, it has entered an oversold channel, and an oversold rebound is imminent; you can follow up.
7. Focus on leading coins; only trade the leaders, not the minor ones. Because when the market rises, leading coins rise the most, and when it falls, they resist the decline the best. Don't hesitate to get in; trading often goes against human nature. Don't buy just because the price has dropped significantly, and don’t avoid buying just because the price has risen significantly. The more you hesitate to buy, the more it rises; the more you dare to buy, the more it falls. The strong remain strong; the key to trading leading coins short-term is to buy at high positions and sell at even higher positions!
8. Embrace the trend and follow it; the purchase price isn't necessarily better the lower it is, but rather the more suitable it is. You won't gain an advantage just because the price is cheap; downtrends do not guarantee a bottom. Abandon the rubbish; the trend is king.
9. Don't let the blood of profits cloud your judgment; remember, the hardest thing in the world is how to sustain profits. You must seriously review your trades to determine whether it was luck or skill. A stable trading system that suits you is the key to continuous profit.
10. Don't trade just for the sake of trading. What does that mean? It means that when you don't have enough confidence to determine that this trade will be profitable, don't force yourself to open a position. Staying out of the market is an art. Those who can buy are students; those who can sell are masters; those who can stay out are the grandmasters. The first consideration in trading is not profit but preserving capital. Trading is not about frequency but about success rate!
11. In fact, in the speculative market, being adaptable is the most erroneous approach. Use your own established trading system; let the system remain unchanged amidst changes. It doesn't matter how many methods you use; what matters is that you use one method repeatedly a thousand times. Inactivity is the best defense. Often, when you are most reluctant to let go, you make the most mistakes. This is something you should reflect on seriously!
12. I believe that those who can stick with trading for over 4 years do so because of the word 'passion.' Passion is allowed, but to do something well, passion is essential. However, don't be overly obsessed, or it could lead to a downward spiral from which you cannot escape; family is our most important responsibility.
13. External factors are uncontrollable; seek within yourself. You must never blame your own failures on others; this is extremely important. No matter how low you fall, you must take full responsibility for your decisions. Only by taking responsibility can you face your mistakes and avoid repeating them. True cryptocurrency traders are warriors who dare to confront their mistakes!
14. Listen less to outside rumors because opinions have no right or wrong. Many times, what you see is what they want you to see, or what you want to hear. When you lose interest in media or the methods of any experts, congratulations, you are not far from entering and succeeding, because you may have gained a little bit of your own belief!
15. You think you are trading the market, but in reality, you are trading yourself. What we see as externally glamorous success is merely the result and performance; behind every success are immense perseverance and patience. Greatness often comes from suffering. Time is the most valuable asset; endurance surpasses intelligence. Natural talent is not important; mindset is crucial!
Even the most diligent fisherman would not go out to sea during a stormy season but would carefully guard his fishing boat. This season will eventually pass, and sunny days will surely come! Focus on the clear skies; I will teach you how to fish and also how to fish sustainably. The door is always open; only by going with the trend can you lead a life in harmony with the trend. Keep this in mind and remember it well!
