To make money in crypto trading, you only need to do one thing: do not be greedy.
I believe that if you want to make money in the crypto circle, not being greedy will definitely allow you to earn money.
If you are greedy, most people lose a lot of money, while a small number make a lot of money.
Why do I say this? Because the crypto circle has relatively matured now, the more mature the market, the fewer opportunities for sudden wealth.
First of all, if you are not greedy, making money is a very simple thing.
From a long-term perspective, cryptocurrencies are still gradually developing. In a gradually developing industry, obtaining a certain amount of wealth is definitely possible.
If all else fails, you can still dollar-cost average BTC. In the long run, dollar-cost averaging BTC is definitely a good financial strategy.
Furthermore, if you are very greedy, you are likely to lose a lot of money, while the chance of making a lot of money is small. If you pursue extraordinary returns and want tenfold or hundredfold gains, you may end up losing everything. For example, in the bull market of 2023-2024, many people did not buy Bitcoin, wanting to buy altcoins for higher returns, but now the returns have not outperformed Bitcoin. Bitcoin has risen from 20,000 to 70,000 from 2023 to now, tripling or quadrupling, while many new entrants wanting to buy lower market cap altcoins have not seen gains as high as Bitcoin and have even lost money. In short, if you are an ordinary person, if you do not understand blockchain technology and if your understanding of wealth is insufficient, then in the crypto circle, as long as you 'do not be greedy,' you can definitely earn small money from investments. These small amounts of money may not elevate you to a wealthier class, but they are enough to improve your standard of living.
Of course, if you are not satisfied with the returns from dollar-cost averaging BTC, then you might as well take a look at the content below.
In the crypto circle, achieving financial freedom and class leap, I have always strictly followed the iron law of the market:
1. A sharp drop is a touchstone for testing quality coins. If the market crashes and your coin only drops slightly, it is clearly being supported by the big players, refusing to fall, so such coins can be held with confidence, and you will surely reap rewards.
2. If a novice does not know how to buy and sell, the simplest and most direct method is to hold above the 5-day line for short-term, sell if it breaks the 5-day line, and for medium-term, hold above the 20-day line, sell if it breaks the 20-day line. There are many methods, the one that suits you is the best. The difficulty in trading is not the lack of methods, but the execution. Blindly sticking to a method, over 90% of people have no issue; the principle is simple.
3. Main upward trend + once formed and without obvious volume increase, decisively intervene. Hold if it increases in volume, hold if it decreases in volume and the trend is not broken, quickly reduce holdings if it decreases in volume and breaks the trend.
5. After buying short-term, if there is no fluctuation for three days, you should sell if possible. If it drops after buying, stop loss unconditionally at a 5% loss.
6. If a coin drops 50% from a high position and continues to fall for 8 days, it has entered an oversold channel, and a rebound is imminent, you can follow in.
7. In crypto trading, focus on the leaders, only trade the leaders, avoid the miscellaneous. When the leading coins rise the most, they drop the least. Do not hesitate to jump in; crypto trading is often counterintuitive. Do not buy just because it has dropped a lot, and do not hesitate to buy just because it has risen a lot. The more you are afraid to buy, the more it will rise; the more you dare to buy, the more it will drop. The strong remain strong; in trading the leader, the most important thing in the short term is to buy high and sell higher!
8. Embrace the trend and act accordingly. The buying price is not better when it is lower, but rather when it is more suitable. You will not gain an advantage just because the buying price is cheap, as a decline does not indicate a bottom. Abandon junk coins; the trend is king.
9. Do not let the blood of profit cloud your judgment. You must know that the hardest thing in the world is how to maintain continuous profit. You must review seriously: is it luck or skill? A stable trading system that suits you is the key to continuous profit.
10. Do not trade just for the sake of trading. What does this mean? It means that when you do not have enough confidence that this trade will be profitable, do not force yourself to open a position. Being in cash is a skill; those who can buy are students, those who can sell are masters, and those who can hold cash are ancestors. The first consideration in trading is not profit, but capital preservation; trading is not about frequency, but success rate!
11. In the speculative market, being adaptable is the most erroneous approach. Use your fixed trading system, and in that system, remain unchanged in the face of change. It is not scary to use a thousand methods, but it is frightening to use one method a thousand times. Doing nothing is the best defense; often, when you are the most reluctant, you make the most mistakes. This statement, you should ponder seriously!
12. I believe that those who can stick to trading for more than 4 years do so because of the word 'passion.' Passion is good, but to do well in something, passion is a must. However, do not become overly obsessed, to the point of being unable to extricate yourself; family is our greatest responsibility.
13. External factors are uncontrollable, seek internally. You must never blame your failures on others; this is incredibly important. No matter how low you fall, you must take full responsibility for your decisions. Only by taking responsibility can you face mistakes directly, and only then may you not repeat them. True crypto traders are warriors who dare to face their mistakes!
14. Listen less to outside rumors, as opinions have no right or wrong. Many times, what you see is what they want you to see, or these are words you want to hear. When you lose interest in the media or the methods of any expert, congratulations, you are not far from entry and success, because you might have added a bit of your own, faith!
15. You think you are trading the market, but in fact, you are trading yourself. The shiny success we see on the surface is all the result and performance. Behind success is a great deal of perseverance and patience; behind greatness is suffering. Time is the most valuable asset; endurance surpasses intelligence, innate talent is not important, attitude is very important!
The secret skills have already been given to you all; whether you can become famous in the world depends on yourself.
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