Friends, are you exhausted from trading cryptocurrencies, with your wallet getting thinner? Don’t worry, I’ve experienced that unbearable pain too, with a million in debt, but after much reflection, I finally grasped the essence of trading cryptocurrencies!
Do you know? In the cryptocurrency world, the only people who can truly make a fortune are those who have experienced liquidation and losses, yet can still stand up, summarize their experiences, and maintain a strong mindset. Yes, I am that kind of person, and now I want to share my experiences with you!
First, you need to understand that trading cryptocurrencies is like going to war; survival is the first principle. No matter how much you’ve earned before, if you lose 100% in one go, you have to start over. So, preserving your principal is the hard truth! Before each trade, you should ask yourself: How much do I plan to earn? What is the maximum loss I can accept? Once you hit your bottom line, exit immediately, don’t hesitate!
Secondly, you need to have a clear operational system. Don’t blindly follow others; just because you see someone else buying something, doesn’t mean you should buy it too. You need to have your own judgment and trading strategy. Know when to enter and when to exit.
Furthermore, trends are your good friends. Don't be blinded by short-term fluctuations; you need to be patient and wait for major market movements. Once the trend is clear, follow it and don’t go against it. Remember, a bull market doesn’t end in a day, and neither does a bear market. You need to be patient to reap the rewards!
Mental fortitude is also key in trading cryptocurrencies. You need to have strong psychological resilience; don’t be scared off by minor fluctuations. You must have the mindset and perspective to handle extreme market situations to navigate this market with ease.
Of course, you need to continue learning and researching. Don't think that just because you understand a little bit, you are invincible. You must keep learning new knowledge and understanding market dynamics and project backgrounds. Only then can you stand firm in this ever-changing market.
Finally, I want to tell you the simplest trading method—diversify your investments to reduce risk. Don’t put all your eggs in one basket; you should spread your funds across multiple promising projects and asset classes. This way, even if one project fails, you won’t be severely impacted.
Moreover, you need to choose a safe trading platform and wallet. Don't choose unreliable platforms just to save on transaction fees. You should select well-known and secure platforms for trading to protect your funds.
