I made 42 million in the last bull market.
Let me tell you about my experience of making my first pot of gold in the cryptocurrency world.
Male, born in 1990, graduated from university in 2012, went to work in Shenzhen, and entered the cryptocurrency circle in early 2016.
I currently have two houses and two cars in Guangzhou. I have no pressure to spend 100,000 yuan every month. Most of my other assets are in the exchange.
In fact, first of all, trading is an extremely boring thing. After engaging in it for a long time, you have passed the period of passion and are no longer in the stage of being surprised by some fluctuations.
1. [Staying up late] That is a basic operation. For our group, it is not called staying up late at all. It is a common occurrence. So you often see so-called genius traders with big bellies at a young age, looking ten years older. Fortunately, I still pay a lot of attention to appearance. After all, I make a living by my face. Hahaha-
2. [Stylish] It is not like what you imagine, it is just a life of feasting and revelry. Most of the time, it is just a casual state. Even if I go out to play, I cannot fully enter the state. A state called anxiety urges me not to stop, because there are too many people who trust us. Every trust is actually a kind of pressure for us, and pressure urges us to become better. Every day is not a feast and socializing, but an endless watch on the market, reading the news, and summarizing and reflecting. At least that's how I am. There are endless messages on the phone.
3. [Pressure] As for pressure? Haha, from the initial solution to the pressure problem to the current increase in the ability to withstand pressure. Someone asked why I always have to watch? Because the contract is mainly short-term, I will basically look for the right opportunity. Then I reply to various questions from others. I am still a very good person, haha, and the difference in points is still very large, those who understand will understand.
Finally, let me talk about my trading principles:
1 Say goodbye to feeling trading and respect market sentiment
2 Strictly set the stop loss position. The stop loss position should be determined according to the market.
The second is the loss you can afford.
3. Stick to your original opinion and pay the price if you are wrong.
4 Trading is not about who earns more, but about who goes further.
Finally, I hope that all the guys who read this article can overcome their own human nature, because trading is a fight against human nature.
To summarize what I did well:
1. Be sure to keep records
Try to record your feelings and operation details at the time, because words will not lie.
Only by summarizing can you find the direction for the next correct decision. To be honest, being able to personally experience and witness such a historical moment is really a rare opportunity for growth. In other words, this experience is the only way for you to become a mature investor. As the saying goes, only by experiencing it personally can you have a bigger picture.
In the investment process, "seeing is believing" is both an illusion and the only magical power that can make people truly believe and accumulate knowledge and experience. If you do not make full use of and absorb this historical level experience, you will really live up to this precious opportunity.
2. Never hold a full position
Whether in the cryptocurrency world or the stock market, truly mature investors will not choose to hold a full position all the time:
Because black swan events—those extreme situations—are bound to happen, especially in a market as volatile as the cryptocurrency world. This is a seemingly simple truth, but it is very difficult to implement in practice.
Of course, you may have various reasons to buy a full position, such as a small amount of principal, or the target you just bought is about to rise. In any case, you will always be unwilling to let your money sit idle, and you will always have the urge to invest it. I fully understand this feeling. But reality always teaches us a lesson ruthlessly.
Therefore, I decided to take out at least 15% of my position after the next wave of rise. I originally wanted to keep more, but I knew I might not be able to do so, so I took my time. After all, cultivation is not something that can be achieved overnight.
3. Crashes are the best test of human nature
A crash is both a mirror and a touchstone of human nature. Just as most people can share happiness but not suffering, every crash not only causes the price of the currency to plummet, but also reveals the truth about human nature.
In the past, I have helped several people I have never met make several times the money. Some people were grateful for this and even wanted to transfer money to me to express their gratitude; while some people felt very successful when they made money, but once they suffered losses, they would put the blame on me.
This crash has made these differences even more obvious. Of course, I'm not stupid. After this, I know how to treat these people.
4. Always buy coins that you feel comfortable holding
To be honest, the reason why I was not particularly panicked this time was that over the years, whether buying coins or stocks, I only bought those targets that I thought would be completely fine even if I kept them for more than 5 years. This has become a talisman that allows me to sleep peacefully.
Of course, I have to admit that the recent market fluctuations made me unable to resist and I bought some small currencies, but because the amount was small, I could accept it even if it went to zero, so I didn't panic too much. I hope everyone can remember and follow this principle, so that you can avoid a lot of trouble and greatly improve the quality of life. Only by holding truly high-quality assets can you truly feel at ease. In the future, only invest when the market drops by about 30%.
5. The eternal bull market is in your heart
Another reason why I was not panicking was that I already had the confidence of $100,000 in my heart, so I had nothing to fear. I won’t say more about this.
In this industry where so many elites and capital have been continuously invested for more than ten years, it is inevitable that it will change the world. So, don’t scare yourself and worry about Bitcoin going to zero. If it was going to go to zero, it would have gone to zero long ago. Oh, by the way, if you are familiar with history, you will understand a basic truth: reformers of all generations are often the target of public criticism. That is why Bitcoin has been sentenced to "death penalty" many times.
But what’s interesting is that Bitcoin still survives and even gets better. This is enough to prove its strength. No matter the strongest government or the richest person in the world, they can’t really knock it down. Isn’t this in line with Nietzsche’s famous saying: “What doesn’t kill me makes me stronger.”
6. Every sharp drop is followed by a sharp rise
Looking back at the history of Bitcoin, every time there is a sharp drop of about 40%, there is almost always a strong rebound, usually between 20% and 30%, which often occurs in a short period of time (such as the second or third day). So don't be afraid, enter the market bravely when others are panicking, believe in the laws of history, and don't be scared by the current plunge.
7. Stay away from contracts and leverage
On May 19, 600,000 people were liquidated, and I was one of them. Data shows that the liquidation amount reached 6 billion US dollars in just one hour, and the total liquidation amount in 24 hours was 18.3 billion US dollars. This fully demonstrates that leverage and contracts in the crash are a veritable "meat grinder". If you use high leverage, no matter how much money you have, it is not enough to lose. After this, I made a promise: my leverage and contract amount will never exceed 3% of the total principal. In addition, the money earned from contracts is usually earned by luck, so you must enjoy it in time, because your money today may become someone else's tomorrow.
8. Don’t let news influence your investment decisions
When the market is doing well, both your mind and media reports seem to be filled with good news; when it plummets, all kinds of sensational news emerge one after another, and usually appear one after another in a "adding insult to injury" way, leaving you no chance to breathe until you throw away your last chips.
Therefore, when the market is extremely panic, don't read the negative news, it is of no help. Remember the fourth principle we mentioned earlier - we always buy things that can be held for at least 5 years, so don't be led astray by others or bad media. Another point is that when the market plummets, don't read all kinds of panic information in the group. Those small retail investors have already been scared and just want to pull you into panic. Block them!
9. Believe in the power of cycles
The reason why the investment market is friendly to some people is that these people know how powerful the cycle is. As long as human beings continue to develop, the bear market will surely be followed by a bull market. Even if we don’t mention the cryptocurrency circle, looking back at the modern history of mankind, every time we faced a financial crisis, which one really made us completely collapse? Let alone the financial crisis, even in the disaster of the world war that destroyed the entity, people all over the world still redeveloped at a very fast speed.
Therefore, in the pro-cyclical period, you must have confidence. Submit yourself to the historical trend, patiently wait for the arrival of a good opportunity, and let the bullet fly for a while~
10. Always respect the market and dare to open up new paths
The market will always fluctuate more violently than you think, whether it is rising or falling. For example, last week, when Ethereum rushed to 4300, how many people were willing to sell (I sold half of it at 3500, but unfortunately I bought some altcoins later)? Now that the price has returned to around 30,000, how many people dare to enter the market? This is one of the core reasons for successful investment: only by taking the path that others dare not take can you get excess returns! Although this principle is very basic, in actual operation it is as difficult as a personal odyssey. In the bull market, everyone thinks that it is easy to speculate in coins. Just buying one can increase it several times or even dozens of times. When the market soars, everyone may truly understand the meaning of "keeping coins is like being a widow."
I silently thought:
“Hold your Bitcoin! And Buy The Fucking Dip!
Hold on to your Er and never cut your losses, just like I raised my shield and started to bravely buy the bottom. It feels really good, just like swinging a sword of counterattack at the whole world. After all, if you lose, it's only four years, but if you win, you will become a legend! On the road to creating legends, Erquan has never let us down, no matter the market goes up or down.
The magic order I have been preparing for these few days is about to be launched!!!
Comment 168 on board!!!
Impermanence belt Impermanence belt Impermanence belt!!!
Important things should be said three times!!!
