Once cryptocurrency novices master these iron rules, they will establish themselves in the crypto world, and their trading career will soar as if they have superpowers!
In the turbulent sea of the cryptocurrency world, true experts do not rely solely on technology but on a profound understanding of market laws and strict adherence to them. These are the six iron rules I have always followed, shared with those destined to hear them, so you too can navigate the path of trading like a fish in water, easily managing risks!
1: Volatility is constant, mindset is king: Do not easily claim to have reached the peak during an uptrend, and do not assert a bottom during a downtrend. Just like whether Bitcoin can reach $150,000, the answer can only be revealed when the market is in a frenzy. What you think is a bottom may only be a brief stop; the true bottom is always unfathomable.
2: Build positions in batches, stability is king: Experts never rush to achieve results when building positions; each transaction is controlled within one percent. This strategy allows them more opportunities for trial and error, lower costs, and reduced risks.
3: Dare to chase highs, achieve greatness: In the crypto world, those who fear highs are destined for misfortune. You must understand that the cost for the main players in a cryptocurrency is far from what you imagine; promotional costs, chip costs, development costs, etc., can involve multiples or even tens of times the investment. Therefore, daring to chase highs is essential to seize real opportunities.
4: Bull markets are opportunities not to be missed: A bull market is the only chance for a turnaround. Just like Buffett, even if he is incredibly smart, if he misses a bull market, he can only wait silently in a bear market. Therefore, in the crypto world, seizing a bull market is seizing the key to wealth.
5: Technical indicators are for reference only: Technical indicators often have a lagging nature; they can only serve as references rather than the main basis for buying and selling. Although technical indicators perform well during strong uptrends, the price is already high, so chasing after increases requires caution.
6: Full of confidence, unafraid of the market: True cryptocurrency trading experts are full of confidence; they have experienced losses but have never been defeated. Because they firmly believe they will eventually conquer the market, this belief is key to their success.
Trading cryptocurrencies is not only a contest of skills and luck but also a test of mindset and wisdom. Only those who master and strictly adhere to these iron rules can remain undefeated in the cryptocurrency world!