1. Investment should focus on 'real' returns: When making long-term investment plans, one should focus on 'real returns' because the true return is what remains after deducting inflation and taxes from investment gains. If investors ignore the impact of inflation and taxes, the journey of long-term investment will be difficult.
2. Investment strategies should always remain flexible: Investors should always maintain an open and flexible mindset, daring to absorb various new investment knowledge, rather than being fixated on a single financial asset.
3. Never follow the crowd; learn to operate against the trend: If the cryptocurrency you buy is the same as others, the performance will be the same as others; unless you are different from the majority, it is impossible to create outstanding performance. You need to buy when others are disappointed and sell when others are greedy, which requires the greatest perseverance but can yield the greatest rewards.
4. The world is full of changes: Bear markets are always relatively short-lived, and so are bull markets. Prices typically rise one month to one year before the economic cycle reaches its lowest point and reverse downwards one month to one year before the peak; if a mainstream cryptocurrency is welcomed by investors, its popularity is always relatively short-lived, and after losing investors' favor, the price is difficult to return to its original level within two years, such as BTC.
5. Avoid trends: When any selection method for cryptocurrencies becomes popular, investors should switch to less popular methods.
6. Learn from your mistakes: 'This time is different' is one of the most costly phrases in history. Some people believe that 'the only way to avoid making investment mistakes is to never invest again!' In fact, this pessimistic thought is the biggest error! Investors may learn lessons from mistakes, becoming a key factor for future investment success.
7. Buy during market pessimism: Bull markets are always born in pessimism, grow in doubt, mature in optimism, and die in ecstasy; the most pessimistic time is the best buying opportunity, and the most optimistic time is the best selling opportunity.
8. Global investment: Avoid putting all your eggs in one basket; the best way is to invest in popular cryptocurrencies (like BTC, ETH, EOS, etc.), which not only allows you to find more and better profit opportunities but also helps to diversify the risk of fluctuations in a single market.
9. Value investment requires careful selection: Investments should be based on the underlying value rather than market prospects or economic trends. The performance of a cryptocurrency will determine the rise and fall of the market, rather than the market trend determining the price of the cryptocurrency. Even in a bear market, there are still cryptocurrencies that rise against the trend. Choosing cryptocurrencies that are undervalued by the market for long-term investment and waiting for the market to return to reasonable value can allow us to earn excess profits.
10. No one knows everything: In this era of constantly evolving financial products and information explosion, no one can grasp all financial information, and no one can always accurately judge market prospects. We should adopt a humble attitude and continuously learn new knowledge because successful investors are always looking for new answers to new questions.
