Pursuing the goal of making a small fortune in the cryptocurrency circle, especially hoping to quickly accumulate 1 million, does require a set of sound and strategic logical thinking. The following is a refined and optimized version of the steps you proposed:
Step 1: Establish and implement a trading system
The first task is to build a complete trading system, including clear trading plans, principles and risk management strategies. Adhering to this system without being disturbed by emotions is the key to surpassing most market participants. Remember, the core of successful trading lies in discipline rather than accidental profits.
Step 2: Recognize risks and take profits in time
Deeply understand the nature of market fluctuations and risks, and avoid over-trading or speculating in high-risk products (such as high leverage, complex options) due to greed in the bull market. Once the profit target is achieved, part of the proceeds should be withdrawn in time to lock in profits to prevent losses caused by market reversals.
Step 3: Steady operation, avoid frequent trading and high-risk leverage
Abandon the temptation of high-leverage trading and frequent operations, both of which can easily lead to rapid evaporation of funds. Learn to gradually withdraw when making profits, retain the fruits of victory, and avoid reinvesting profits in the market to prevent "losing the money you win back."
Step 4: Buy the bottom rationally and control the position
When the market is correcting, use the strategy of "buy more when the market falls, buy less when the market falls", but strictly control the position of each transaction to ensure that the overall risk is controllable. Avoid excessive single positions and leave yourself enough room for error to cope with unforeseen market fluctuations.
Step 5: Focus on new assets and seize the trend
"Speculating on new but not old" does not mean blindly chasing all new projects, but having keen market insight to identify and invest in new assets with high growth potential. New assets often become hot spots in bull markets, but decisions should also be made based on in-depth research and analysis.
Step 6: Select leaders and avoid risks
Develop the habit of buying industry leader projects, which usually have higher market recognition, stronger technical strength and broader development space. Although the price of "leaders" may be relatively high, their growth potential and stability are often better than other projects. Avoid falling into high-risk situations by chasing niche projects.
