When you suddenly understand trading coins, your career feels like it's on cheat mode! In the crypto world, true experts aren't necessarily those with the best skills, but those who strictly follow the iron laws of the market:
1. Do not call a top during a rise, and do not call a bottom during a fall. Many people don’t believe Bitcoin can reach $150,000 because the bull market hasn’t arrived yet. Just when you think $68,000 is the bottom, would you believe it if it drops to $62,000? In the end, it spiked down to $56,000.
2. Each trade is best at one percent. The smaller the capital, the harder it is; true experts build positions in batches at one percent. Think about how many chances they have to make mistakes! How low their costs are!
3. Being afraid of heights means you’re destined for misery. You need to know that the cost for the main players in a cryptocurrency is very high, including promotional fees, chip costs, development fees, etc. This is not something that can be achieved with 20%-50%, but rather several times, or even dozens of times.
4. A bull market is the only chance for a turnaround. Even Buffett has to recognize losses during a bear market, which is why he can only stay in US stocks and remain in Omaha!
5. The lagging nature of technical indicators. This means technical indicators can only serve as references and cannot be the main basis for trading decisions. During strong upward movements, technical indicators also look good, but in fact, prices have already risen significantly. Will you chase after that? Take the MACD indicator, for example: a golden cross one day can turn into a death cross the next day; this happens all the time.
6. Firmly believe that you will eventually conquer the market. Which big shot isn’t filled with confidence? Everyone has suffered losses, but they have never been knocked down! If you don’t even believe in yourself and your ability to make money, do you think you can actually earn money?
As a seasoned cryptocurrency investor, I, Tu Fei, share my experiences and insights. Interested in the crypto world but don’t know where to start? Click on my profile to view the introduction of the Zhuye WeChat public account and join the group to witness miraculous moments together.