Adhere to regular investment and increase your holdings when the market falls!
I have talked about why each of us needs to own at least 0.01 Bitcoin in my previous article on April 3rd.
If you haven’t read it, you can read “Why does each of us need to have at least 0.01 Bitcoin?” to learn about the importance of owning 0.01 Bitcoin.
What happens after you have 0.01?
In addition, we also need to deeply understand the timeless and repeatable BTC investment concept that our predecessors have exchanged for real money.
1. Believe in long-termism
The moment you make your decision and every time you add a position, be mentally prepared to hold it for more than five years or even for life.
Don't pursue a method that multiplies your money tenfold in one year. It's not that it doesn't exist, but it can't be replicated. If a million dollars can be turned into 100 million dollars in just two years, and this method can be replicated by everyone, you won't become rich, but your money will become worthless.
2. Anti-fragile Target
There are three key choices in one’s life: one, what kind of job to do (career); two, who to spend the rest of your life with (marriage); three, which target to invest heavily in (investment).
Short-lived targets, without long-term compounding, are not worth the efforts of long-termists. Anti-fragility is more important than high returns.
3. Perseverance and perseverance
It is easy to set a resolution, but difficult to set a long-term resolution.
The two most important words in “Persist in regular investment and increase holdings when the market falls” are not “regular investment” or “when the market falls”, but “persistence”.
Overcoming the panic of endless declines and floating losses in positions, overcoming the fear of a rapid rebound and being trapped, insisting on execution, and going through bull and bear markets is perseverance.
If you have no perseverance in your determination, it will bring disaster.
4. Don’t go all in or go all in
Don't go short when bearish, don't go all in when bullish. Restrain your impulse, build positions in batches, always leave room for survival, and only make mistakes that can be remedied. Leverage is the place of death, and off-market cash flow is the confidence to increase positions.
A good attitude is the cornerstone of continued success. A bad attitude is the beginning of failure. Applaud when the market goes up and add to your position when the market goes down.
5. Focus
Start by investing in a good target. Diversifying your funds will only distract your attention and lower your returns. Choose the one that will least let you down and the one that you can stay with for the long term.
Diversifying funds does not diversify risks. On the contrary, the more places you step on, the greater the probability of stepping on a landmine.
6. No band
The biggest illusion of investors is that they can beat the odds. A successful swing requires two successful operations, one to buy and one to sell.
If the probability of success each time is one in ten thousand, then the probability of a successful band is one in ten thousand multiplied by one in ten thousand equals one in one hundred million.
It is more difficult to do well in a band than to win the lottery.
7. Go with the right person
There are two types of successful people: One type succeeds by reaping the benefits of others, which is the saying "one general's success is the result of the sacrifices of thousands of soldiers."
The other is to establish common beliefs with others, copy replicable methods, and ultimately everyone will achieve success together.
Don't hang out with the first kind of people. Don't play zero-sum games where you win and he loses. If you participate in such a game, you will often lose.
There are community members on the homepage.
