The experiences I have learned after years of working in the crypto market might help you in your journey to conquer the crypto waves.

1. Capital management is the most important.

Having seen ups and downs, I realized that no matter how good your research and analysis are, capital management is still the key for success.

Financial markets are always risky, nothing is 100% certain, especially in a volatile market like crypto. The seemingly immortal empires can still collapse overnight. Luna, 3AC, FTX are just some examples.

Therefore, remember to make a capital allocation strategy. I usually divide it into 3 bags:

Safebag: which takes the biggest portion, for $BTC , $ETH and some top coins.

Moonbag: for low-cap projects, which have big pump potential in the long term.

Tradebag: used for trading back and forth in the short term.

In addition, I always keep an amount of 10-20% stable coin no matter it is downtrend or uptrend in case the market dumps to unexpected areas. Because no one knows where the peaks and the dips are :D

2. Learn to research the project yourself.

It is no argument that you can get the initial information from KOLs and communities. However, the next thing to do is always do some yourself.

By doing so, you will understand the project more, know what you are investing in and show some responsibility for your money. It also helps you determine profit expectations and hold steadily. If you do not understand the project, just a few small FUD will turn you into a paperhand immediately.

The only way to have Diamond Hand is knowledge.

When there are not the answers for these 3 questions, it's best not to spend money:

(1) What am I investing in?

(2) What is the investment timeframe?

(3) What are the buy range, take-profit limit and even the stop-loss range, if any?

3. More than 90% coins will stay at the bottom forever.

After each downtrend, more than 90% of old coins will stay at the bottom forever. Only $BTC $ETH and some top coins can rally past the ATH. If you have no knowledge about the market, then just gather $BTC or $ETH to have more chances of breaking even.

4. Trend is friend.

At every uptrend, the “creators” make new trends to attract the cash flow. Hence, if you still keep the old coins from the previous trend, it is quite risky. Why is that?

Naturally, trends usually represent the market development. Each new trend is born marking a historical milestone of the industry. And because the crypto industry is growing more and more to a higher position, the new trends will come and go into stable development if it is verified to be valid.

A trend should usually be new and attractive enough to attract money inflow. For the old trends, investors have already known too much about them. The question is if they are still attractive, or they just leave the wariness to the investors. Unless the trend can renew itself, it can hardly make a comeback.

MMs are also business people, so pushing the trend is to earn money. While the number of new people buying at the top during the old trend is countless, is it easy for MMs to pump back for you to break even? Instead, following, pushing new trends and creating new projects is much faster and easier.

Each new trend is born marking a historical milestone of the industry

Hence, try to spend a lot of time observing the development of the market and getting the trends.

Trend is friend! Don't ignore a trend just because you think it's unreasonable. In this market which is already full of crazy things, the important thing is pamp your bags.

5. The nature of the financial market is a zero-sum game.

The essence of the financial market is a money game that is based on supply and demand and controlled by greed and fear. Remember that preservation of capital is more important than profit. When there is a profit, you should find a point to take profits gradually to preserve capital first.

Remember that when someone takes a $1,000 profit, there will be someone who loses $1,000. Don't be blinded by technology or idolize someone and stay on top forever. Once the capital is preserved, there will be a chance to make more. During an uptrend market, there is no shortage of deals that can multiply your money many times.

6. Stay away from leverage

Remember to keep yourself away form long-short positions and margins if you are not a professional trader. It will turn you from an investor to a gambler and drain all your profits as well as capital. The “deaths” of 3AC and FTX also come from leverage.

7. Understanding the macro is essential.

The crypto market is part of the world financial market. Therefore, understanding the macroeconomics and monetary policy is essential to make the right decisions with your investments.

Currently, the most influential money flow regulator is FED. If you don't do a lot of macro analysis, at least you need to understand the FED's policies.

8. If money is not in your account, it is not yours

That’s it. Even if you take profit and get the stable coin, the risk is still over there.

The first risk is that the stable coin can lose its peg. Take the UST as an example. Currently, its price is about $0.03, remaining only 3% of what "stable" should be: $1.

The second risk comes from yourself when observing the up and down waves, with your purge still full of money. Many people cannot keep themselves in the safe zone but throw their money in, changing their position from safe to risky.

Don't forget cashout you profit!

I hope this article will help someone - those who are new to this seemingly potential market.

Thank you for reading. If you find it useful, you can share the article. And don't forget to follow me ❤️.

There is only one way leading to sustainable prosperity: wisdom. I believe that multiplication your knowledge by 100 this season will help you x100 or even x1000 your assets next season. In this article, I will present methods to help you go far and quickly with cryptocurrency.

1. Self study

The cryptocurrency market develops at a rapid pace, hence the knowledge of it is too much and constantly updated, which is easy for newcomers to get lost. Here are the ways I learned during self-study:

Take a look at the overview and then focus on the niche

If you are a newbie for the first time, try to read all the basic knowledge to get an overview of the market, from terms, concepts, participants to the other pieces of the market, ... You also need to open up your mind and learn about the blockchain, not just cryptocurrency.

Once you've got a rough idea of the market, pick a niche you're interested in digging into. Continue to break down your chosen part into smaller pieces to study. To make it easier to imagine, think of a tree diagram. I often use miro.com to do this. Doing so helps you to have systematic thinking.

Blockchain Technology Stack - Image: @101blockchain

Along with that, do not forget to learn about the history of the crypto industry and the history of world finance. Looking back at the past shows us the future. History always repeats so there is such a thing called a cycle.

Dig deep into the basics first

Each person will have a research path according to their abilities and interests. However, in general, mastering the basics first will help you go faster with the complex. Before starting with hot trends like nft, layer2, web3 … you should probably know about btc, eth, bnb and defi first.

Always take notes

Taking notes helps you remember faster and also for review. In the past, I used to write in paper books and take notes on my phone. Later I switched to using evernote.com because I found it very convenient and fully supported my needs.

A basic route I suggest is as follows:

Take a look at all the definitions, terms, and slang.

History of the cryptocurrency market and world financial markets.

Macroeconomic knowledge

Blockchain Knowledge

Composition, structure and operation of the cryptocurrency market

Digging deep into Bitcoin, Ethereum, BNB, DeFi

Then continue to study the areas that you like.

2. Learn from the experienced and the community

In a downtrend like this, there are many quality articles from OG, Researcher, KOLs because only now do they have time to calm down, look back and write. During an uptrend, everything moves too fast, so they are busy making money but have no time to explain to you.

Twitter's "Lists " feature is recommended to add quality accounts for easy following. In addition, if there is a suitable course, you should take the time to participate in. For each of them, just filtering out a few valuable things is also good enough. At the beginning, I follow all courses that can be found, even the livestreams and YouTube channels.

Learn from the best

Gradually, you will be able to filter out which OGs, Researchers, KOLs or communities to follow. It doesn't make sense at all to list the names that you have not experienced.

3. Build a study plan and allocate time

It is undeniable that not everyone can be full-time for crypto since all have other jobs. Hence, making a study plan and allocating time are essential.

How the time is allocated depends on each person, but it is necessary because that means you are considering it as a job to be completed, not something to do at a convenient time. App structured.app can help with time management.

4. Spend a very small amount of capital to participate.

Saying "learning and practice go hand in hand" is not wrong. Even in a downtrend without waves like this, I still spend a very small part of my capital for trading.

There are two purposes for this: one is to practice and the other is to not be distracted from the market. The market at the moment is extremely boring and easy to forget, so "playing" back and forth is a way to keep abreast of the market.

Remember to use just a small portion of your capital to practice and experience. You can read more threads about your capital management experience below: https://www.binance.com/en/feed/post/279708

5. Write a diary

Yes, this is quite important, especially for newbies. When you first enter the market, sometimes you will not understand why you buy this or that. Journaling helps you learn very quickly and avoid the mistakes you made in the past. My trading diary often writes as follows: time/coin/buy zone/sell zone/stop-loss/reason for entry. Keeping a trading journal is also a way to practice self-discipline.

Write a diary

6. Share your knowledge

Do not hesitate to share the knowledge you have learned with the community. What you learn and understand in your head is one thing, but writing it down and sharing it with others is another story.

Responsibility for the shared post requires you to do it properly and have the skills to systematize the problem to convey the most complete content. Like the article you are reading here, these are all things I still do every day, but when I write a sharing article, I still have to research and verify it again to make a complete article. It was also a re-learning for myself. In addition, when you share, you will receive many feedbacks from the community to help you upgrade and improve further.

Learn or Lose

Hope this article will bring value to everyone. If you find it interesting, you can share it with the community.

#newbies #LearnCrypto #crypto2023 #knowledge #conquerorvision