Each one is a classic and worth reading over and over again.
Share with you:
1. Investing profits in riskier projects is equivalent to no profit. This is equivalent to gambling; the best way is to invest profits in BTC/ETH/stablecoins/fiat currencies
(Luck is important, but you need to make lasting profits to be the best choice for BTC/ETH. Be friends with time and keep up with the profit and loss ratio)
2. Projects with MLM culture may make you rich overnight. The premise is to leave before the collapse
(CX can make you rich quickly, and it is particularly important to know how to withdraw and stop profit. Pangu's little stone is an example. A friend made tens of thousands and millions but ended up with nothing.)
3. It is foolish to lock up a certain token to get extra income. It is equivalent to putting yourself in a sinking ship.
(Don’t believe in any profit returns after locking up. This is just a means for the project party to harvest. They use your money to create their wealth. Once you lose money, your money becomes their money.)
4. Your attention and energy are your most valuable assets. Don’t waste your time on boring things.
(Continuous learning, continuous accumulation of contacts, continuous stepping into pitfalls, experience is only valuable if you experience it yourself, and these things take time to complete. Since I started trading cryptocurrencies, I have forgotten the joy of games. Playing games feels like a waste of life, a waste of wealth and free time)
5. Be cautious when participating in projects that exaggerate their claims. There is no such thing as a free lunch. Staking - earning returns - compounding interest may seem perfect on the surface, but every additional return will bring additional risks.
(Those who do things in a low-key manner are often the ones with the biggest vision. Bragging every day is often useless. The powerful ones don’t need to brag, as pulling up the market proves everything.)
6. Be skeptical of any information source. Everyone should be able to think independently and understand why they are spreading this information. What is their purpose?
(Try to be a skeptic. With skepticism comes risk control. Refuse to fall in love with any project coin. Love brain is terrible.)
7. When new narratives emerge, favor market leaders. They have first-mover advantage and market share
(Try to accept new things, carefully study new organisms, refuse to stick to the old ways, and always be a trend pioneer)
8. Using too many tools will drag you down. You don’t need to use more than 50 tools to help you with investment research. Using Etherscan, Debank, DeFiLlama, etc. is enough.
(The most important thing is to suit yourself, all indicators are in the naked K)
9. Cryptocurrency food chain: builder > VC/insiders > whales > robots > manual traders who received the news in advance (less than 1 minute) > manual traders who received the news last (more than 1 minute). When the media is full of information about the project, it is too late to participate.
(Your resources determine your level in the cryptocurrency world, reject FOM)
10. Getting Alpha comes down to two things: getting inside information or doing what no one else is too lazy to do. People underestimate the importance of just following the media articles about the protocol and its discord.
(If you want to make money, don’t be lazy. The people who get rich in the cryptocurrency circle must be diligent)
11. History always repeats itself, but it’s just a repackaging of the same old stuff.
(Old wine in new packaging, but don’t be too rigid, empirical analysis is particularly important)
12. Position yourself early so that money will come to you. Any time you feel FOMO it is a sign that it may be too late to enter the market.
(Those who are good at planning will make money, and others will make me out of the game)
13. Measure your gains and losses in percentages. This helps you stay rational.
(Doing things with a high profit-loss ratio)
14. Be sure to reduce your losses. Set a stop loss before investing, and don’t lose more than you lose because of sunk costs.
(Stop-loss habits must be developed, especially for contracts. Small orders often become large positions. Learning to stop loss means learning to stop profit.)
15. Develop a habit of recording. Write down the information you see in the cryptocurrency world every day, your transactions, the mistakes you make, etc. This will improve your mental algorithm
(Review is particularly important, and summarizing during the period is essential. If you don’t know how to review, you will always be a newbie)
16. Don’t overestimate the role of bull market in fundamentals. In a bull market, all logic is useless. People tend to buy in through hype, FOMO, etc. See the essence of this industry, not what you think it is.
(Market trend: fundamentals > news > technical aspects)
17. Appropriate incentives can drive prices. When people anticipate future profits, they will buy in large quantities. This can be achieved through airdrops, lock-ups to get extra income, ecosystem incentives, etc.
(Select a strong team and a project with good reputation, and invest appropriately to get a high rate of return)
18. Don’t idolize anyone. Even the smartest people like Alameda and Three Arrows Capital make mistakes. Everyone makes mistakes. Just believe in yourself.
(All suggestions are for reference only. You will bear the final profit and loss of the order yourself. Don't be discouraged or arrogant. Be good at discovering your own shortcomings.)
19. There is no right or wrong in investment. No one can achieve a 100% winning rate. The most important thing in investment is to maximize profits and minimize losses.
(All profits are just about profit and loss ratio, maximizing profits is the king)
20. Focusing on one track is an advantage. No one can know everything. Choose one or a few areas and be the best in them.
(Do what you are good at. In today's society, there is no shortage of people with broad skills but a shortage of people with sophisticated skills. Those who are good at the secondary market can be richer than those who participate in the primary market.)
21. Keeping up with macro is overrated. Just monitor the capital flowing into the market and see when we come back. Your time is much better spent elsewhere.
(All trends will inevitably generate data, strive to capture the flow of valuable funds, and strive to analyze the later layout of the capital flow)
22. Don’t invest when you are emotionally drained, drunk, or sleep deprived. One mistake can ruin years of hard work.
(Trading is forbidden when you are not in good condition, mentality is very important)
23. Stablecoins are not as stable as you think. UST failed, and USDC also had a decoupling panic. Convert part of the funds into fiat currency and deposit them in the bank.
(The importance of position management, real fiat currency is the most stable)
24. If you want to maximize your investment returns, concentrate your investments.
(Before concentrated investment, I believe you have done the above research, the chance of success will be greatly increased)
25. Build your own investment system and stick to it. A systematic investment framework can effectively prevent you from investing emotionally.
(Excellent traders start by developing their own trading strategies)
26. It is unrealistic to multiply your money 100 times through trading. It is not 2016 anymore. The best way is to increase your cash flow, set goals and stick to them.
(lay out slowly, stop profit frequently, and accumulate capital continuously)
27. Everyone likes new projects and new narratives. They like to hype up new things instead of old ones.
(Try to be a pioneer in market trends. Those who get rich quickly are the first ones who dare to try new things.)
28. Don’t limit your studies to the crypto field. Learning game theory, behavioral economics, psychology, etc. will be of great help to your future.
(Anti-human transaction thinking mode, good at writing scripts for Zhuang)
29. A good project must have both fundamental elements and rising elements. The rising trend attracts people's attention, while the fundamentals give people reasons to continue holding.
(High-quality projects will have the following three elements: the right time, the right place, and the right people)
30. Unknowns are fatal in the cryptocurrency world. The founders gambling with the national treasury, the anonymous founders with shady pasts are all fatal unknowns.
(Unscrupulous people will be ruthlessly kicked out of the cryptocurrency circle. The cryptocurrency circle emphasizes blessings and personal setting is very important.)
(This article is written based on the experience of a foreign blogger, and the brackets are my supplements or personal interpretations)
