If you want to survive in this market and avoid being ripped off, you need to have your own strategy.

1. Don’t chase the ups and downs, keep a steady mind

Seeing a certain coin soaring, many people can't help but want to follow suit, always thinking that they can't miss the opportunity to make money. The result is often that they chase it to the top of the mountain and get stuck. On the other hand, when they see the coin price plummet, they sell it at a loss in a hurry and finally sell it at the lowest point. This operation is the favorite "cutting leeks" mode of the banker. Therefore, don't rush to chase when it rises, and don't rush to sell when it falls. Keeping a steady mind is the kingly way.

2. Don’t trust “inside information”, use your own brain

The most common thing in the cryptocurrency circle is all kinds of so-called "insider information", such as which project is going to soar, which coin is about to double. Many people get excited when they hear it, and rush to buy, but often fall into the trap of the dealer. The real insider information is not yours to know. Instead of believing everything you hear, it is better to do your own homework, analyze more, and observe more.

3. Control your position and don’t go all in

Position control is a commonplace, but many people still don't listen to advice. When they see a certain coin is rising well, they bet all their money on it, but the market maker crashes the market and they lose everything. When investing, never put all your eggs in one basket. Diversify your risks so that you are not easily wiped out.

4. Set a stop loss and don’t rely on luck

Many people see the price of the currency falling, and always think that they can hold on a little longer, maybe it will go back up. As a result, the price keeps falling, and finally they have to sell at the lowest point. Therefore, you must set a stop loss line, and stop loss decisively when the loss reaches a certain level, and don't let the loss expand indefinitely. The dealer is most afraid of you being disciplined, and likes you to take chances the most.

5. Stay rational and avoid emotional operations

The cryptocurrency market is highly volatile, and it is normal for prices to rise and fall. Many people get excited when they see a big rise, and panic when they see a big fall. This kind of emotional operation is most likely to fall into the trap of the banker. Remember, the rise and fall of the market is normal, and don't let short-term fluctuations affect your judgment. Only by rational analysis and calm operation can you survive longer in this market.

To survive in the cryptocurrency world, the key is to stay rational, control risks, and not be swayed by emotions. Only by learning to keep a steady mind, make your own judgment, and not follow the crowd can you gain a firm foothold in this ever-changing market.