Zhao Dong, founder of Dfund and blockchain project investor, has a legendary life experience, having experienced ups and downs because of Bitcoin.
He once made huge profits and then lost his position. At the most, he lost 9,000 BTC, which was worth 8 million US dollars at the time.
But despite this, Zhao Dong said: I personally came into contact with Bitcoin with a speculative mentality at the beginning. It was not until I met some people who had a deep understanding of Bitcoin and blockchain that I discovered and understood the profound logic behind blockchain. Since then, I have had full faith in blockchain.
Zhao Dong once shared his own cryptocurrency trading advice: “To be honest, if you are not a professional speculator, it is recommended that you do not trade in cryptocurrencies.
For most people who speculate in cryptocurrencies, losing money is almost inevitable, just like going to a casino. At the same time, do not speculate in cryptocurrencies in the short term, do not use leverage, and do not trade futures.
The simplest advice is that if you are not optimistic about this market in the long term, it is best not to touch it.
If you are really optimistic, buy a small position (funds that you will not need in a few years), buy and forget. In any speculative market, one win, two draws, and seven losses will never change.
For most cryptocurrency traders, there are three principles for making money with digital currency:
Principle 1: Strictly control the position within 50% when building a position, so that you can defend when retreating and attack when advancing. Don't hold a full position at any time. Once the position falls sharply, even the gods can't save you, especially for altcoins.
Principle 2: Once the price rises by 2-3 times, you must withdraw your principal first. After getting your capital back, we will use the profits to slowly play with the dealer. When it reaches the price we like, we will slowly withdraw. We keep 10% of the bottom position to avoid missing out on the benefits given by the powerful dealer's sudden pull.
Principle three: When the market is crazy and everyone is chasing the rise, you must sell your chips slowly in stages and batches. Don't be superstitious about the numbers in your account. Only the money in your pocket is yours. The platform account is just a string of numbers.
(The above is suitable for most cryptocurrency traders and most targets, but not for BTC and coin hoarders)
Investing is to improve life, not to let investment hijack our life. We must invest in digital currency with funds that we can afford to take risks, so that our judgment will not be affected by a sharp drop.
Always remind yourself that altcoins are a greater fool's game, and there is no bubble that will not burst. Only in this way can we play the cryptocurrency market with ease. Read it three times in the morning and evening, and it will be difficult to lose money.
Last words:
We are looking at the blockchain industry in the long term. No matter whether you make money or lose money now, the most important thing is not to "get off".
The so-called getting on and off the bus does not mean how much Bitcoin you hold or how many digital assets you have, but that you cannot get off this industry.
The prerequisite for doing this is: you must truly believe in this industry, that it is a huge opportunity, and you must have enough experience, and it is best if you have one or a group of colleagues.
Then when this opportunity really comes, you will be able to catch an opportunity that belongs to you.
