Have you ever suffered heavy losses in the cryptocurrency world, yet still can't find a stable way to profit? Today, I want to share a heartbreaking story, which is that someone lost millions, only to gain four trading iron rules in return. Want to know what those four are?
The first iron rule is 'Follow the trend'. In the cryptocurrency world, do not go against the trend, otherwise, you will be mercilessly crushed by the market. Only by following the market trend can you steadily earn profits.
The second iron rule is 'Strict risk control'. No matter how excellent your trading strategy is, without strict risk control, a huge loss can make you lose everything. Therefore, we must set stop-loss points to avoid emotional trading.
The third iron rule is 'Only trade within your known patterns'. Everyone has their own trading patterns; only by trading within the patterns you are familiar with can you reduce the chances of making mistakes. Do not blindly follow the crowd, nor should you easily try new trading methods unless you fully understand them. The last iron rule is 'Stick to compound interest'. The compound interest effect is one of the most powerful forces in the stock market; only by insisting on long-term investment can you achieve exponential growth of your funds. Do not be tempted by short-term profits and forget the magical power of compound interest.
These four trading iron rules, although seemingly simple, contain profound investment wisdom. If you want to achieve stable profits in the cryptocurrency world, you must remember these four iron rules and constantly apply and refine them in practice.