In the ever-changing and risky realm of cryptocurrency, to establish a foothold and achieve significant leaps, one must deeply understand and adhere to the following six iron rules:
1. Price fluctuations are unpredictable, mindset is paramount: Whether in an upward or downward trend, one must avoid blindly speculating on peaks and troughs. Taking Bitcoin as an example, whether it can break through the $150,000 mark can only be revealed when market enthusiasm is at its peak. What seems like the bottom may only be a brief respite, and the true bottom often exceeds expectations, hence maintaining a calm mindset is crucial.
2. Enter in batches, steady and assured: Experienced investors never rush when building positions, typically controlling each transaction amount to within one percent of their total funds. This approach not only increases the room for trial and error and reduces costs but also effectively controls risks.
3. Be brave to chase the rise and seize opportunities: In the cryptocurrency space, fearing high prices often leads to missed opportunities. It's important to understand that the cost structure of major players in cryptocurrency operations is complex, covering aspects such as promotion, chip collection, and development, with investment multiples often exceeding imagination. Therefore, being bold to chase the rise at the right time may capture lucrative profit opportunities.
4. Bull market comeback, the time does not return: For cryptocurrency investors, a bull market is an excellent window for achieving wealth turnaround. Just like the stock god Warren Buffett, even with his exceptional investment wisdom, if he misses the bull market, he can only patiently hibernate in a bear market. Thus, firmly grasping the bull market is equivalent to holding the key to unlocking the door to wealth.
5. Technical indicators are only for assistance: In most cases, technical indicators are lagging and can only serve as reference factors for investment decisions, rather than decisive bases. For example, during a strong upward phase, while technical indicators may show a favorable trend, prices are often already at high levels, and chasing the rise requires extra caution.
6. Belief is as solid as a rock, unafraid of fluctuations: True cryptocurrency trading experts are internally certain, and even after experiencing losses and setbacks, they will not be easily crushed by the market. They always firmly believe that, with their strength and strategy, they will eventually stand out in market competition, and this firm belief is undoubtedly a solid foundation for the path to success.
Trading cryptocurrency is by no means a simple game of technology and luck; it is a dual test of mindset and wisdom. Only by thoroughly understanding and strictly following these iron rules can one stand firm in the cryptocurrency space and achieve long-term stable profits.
