To quickly escape being a 'retail investor' and become a 'smart investor' in the cryptocurrency market, you need to achieve the following seven points:
1. Adjust your mindset: Treat trading cryptocurrencies as a game, regardless of profit or loss. Only then can you trade cryptocurrencies with ease.
2. Use spare money for trading: The funds used for trading cryptocurrencies should be spare money that won't affect your daily life. Only by using spare money can you trade with confidence.
3. Make the most of your time to learn: To trade well in cryptocurrencies, quickly understand practical technical indicators and strategies, engage in more practice, and summarize your experiences.
4. Be cautious in your initial trades: Retail investors generally have limited funds, so effectiveness is crucial. Especially for your first trade, prepare meticulously and strive for a successful debut. Before executing trades, utilize simulation systems for practice; only after gaining some experience should you trade. Otherwise, entering the market might lead to losses or being trapped, which can greatly undermine your confidence.
5. Preserve your principal: Trading with earned money will make you feel at ease and allow for more flexible operations.
6. Develop your own set of methods: To transform from a retail investor to a smart investor, avoid chasing prices and over-investing. Always remember that as long as you don't chase highs, you can transition from a retail investor to a smart investor. Be adept at learning and summarize a set of trading techniques that suit you through practical operations; this is fundamental to becoming a smart investor.
7. Only trade strong leading coins and concentrate your funds: Focus on trading leading coins. Dispersing your funds not only increases trading costs but also prevents you from accurately analyzing and grasping the market characteristics of each coin.
As a seasoned cryptocurrency investor, I freely share my experiences and insights. Interested in the cryptocurrency market but don't know where to start? Follow me to see my insights, and I'll guide you to achieve freedom in this bull market.