In the turbulent waters of the cryptocurrency world, true masters do not rely on their unique skills, but on their deep understanding and strict compliance with market rules. These are the six iron laws I have always followed, and I share them with those who are destined to do so, so that you can also be like a duck to water on the road of cryptocurrency trading and easily control risks!
1: Ups and downs are unpredictable, and mentality is king: Don't talk about the peak when it's rising, and don't assert the bottom when it's falling. Just like whether the price of a cake can reach $150,000, the answer can only be revealed when the market is crazy. What you think is the bottom may only stay for a short time, and the real bottom is always unfathomable.
2: Build positions in batches, and be steady: Experts never rush to build positions, and each transaction is controlled within 1%. This strategy allows them to have more trial and error opportunities, with lower costs and less risks.
3: Dare to chase high prices and achieve extraordinary success: In the cryptocurrency circle, those who are afraid of high prices are miserable. You should know that the cost of the main force in a currency is far from as simple as you think. The cost of publicity and distribution, chip fees, development fees, etc. are several times or even dozens of times the investment. Therefore, only by daring to chase high prices can you seize the real opportunity.
4: Don’t miss the bull market: The bull market is the only chance to turn things around. Just like Buffett, no matter how smart he is, if he misses the bull market, he can only wait silently in the bear market. Therefore, in the cryptocurrency circle, seizing the bull market is seizing the key to wealth.
5: Technical indicators are for reference only: Technical indicators are often lagging and can only be used as a reference rather than the main basis for buying and selling. Although technical indicators are good during a strong rise, the price is already high at this time, so be cautious when chasing the rise.
6: Full of confidence, no fear of the market: Real cryptocurrency experts are full of confidence. They have experienced losses but have never been defeated. Because they firmly believe that they will eventually beat the market, this belief is the key to their success. Coin trading is not only a contest of skills and luck, but also a test of mentality and wisdom. Only those who have mastered these iron laws and strictly abide by them can be invincible in the cryptocurrency circle!
If you want to quickly get rid of the leeks in the cryptocurrency circle and become the sickle in the cryptocurrency market, you need to do the following 7 things:
1. Adjust your mindset first. Treat cryptocurrency trading as a game, and it doesn’t matter whether you win or lose. Only in this way can you trade cryptocurrency easily in the cryptocurrency market.
2. Use spare money to speculate. The funds for speculating in cryptocurrencies must be spare money that will not affect your life if you lose it. Only by using spare money to speculate in cryptocurrencies can you be able to take it and put it down.
3. Seize the time to learn. If you want to trade cryptocurrencies well, you should figure out the practical technical indicators and tactics as soon as possible, practice more, and summarize more.
4. Be cautious in your first battle. The funds of leeks are small, so you must pay attention to effectiveness. Especially for the first time, you must prepare carefully and strive to win the first battle. Before operation, you should use the simulation system a more and practice, and then make a move after gaining a certain amount of experience. Otherwise, as soon as you enter the market, your funds will be trapped or sold at a loss, which will be a great blow to your confidence.
5. Keeping your capital and using the money you earn to trade cryptocurrencies will make you feel more relaxed and allow you to operate more freely.
6. Summarize your own set of methods. If you want to change from a leek to a sickle, you must put an end to the mentality of chasing the rise and full warehouse 9. Always remember that as long as you don't chase
Gao, the saying that leeks turn into sickles. You must be good at learning and be able to summarize a set of operating skills that suit you through actual operations. This is the basis for turning into a sickle.
7. Only trade strong dragon coins and use funds in a centralized manner. When trading coins, you should trade the leading ones. The dispersion of funds will not only increase the transaction cost, but also make you lose sight of the big picture and fail to accurately analyze and grasp the market characteristics of each coin.
