Recently, I've been immersed in the world of Meme coin trading and have grasped a bit of insight. Let's summarize the lessons learned from this journey:
1. Deeply immerse yourself in the Meme market
In the Meme market, if you leave for a few days and come back, it's like seeing nothing at all. First, you won't recognize the new coins that have emerged, making it impossible to do any bottom-fishing or chasing high operations. Secondly, the market rhythm changes too quickly; it used to be difficult to have a market cap of 1 million dollars, but now 1 million is just the starting point, with 5 million and 10 million being easily surpassed. If you miss these changes, you'll find it hard to decide when to enter or exit the market.
Moreover, the Meme market requires you to constantly monitor the charts. First, you need to discover potential coins as early as possible; second, you must track prices to decide when to buy, sell, or bottom-fish. How many times have I bought a Meme, gone out for a meal, and come back only to find that what could have earned me two or three times is now only 50% profit?
2. Success and failure both stem from smart money
Don't get it wrong, SM refers to 'smart money.' When playing the Meme game, you need to constantly update the smart money teams you follow and observe how they operate. You can learn which ones are reliable, which are manipulators, which are weak hands, and which are diamond hands that hold on. This information serves two purposes: first, to quickly capture market hotspots, and second, to help you make trading decisions. But never blindly trust a particular smart money or a few operations; I once followed a big player and made profits four times in a row. I trusted him wholeheartedly, but on the fifth time, he heavily invested, and I followed suit, only for him to run away while I got trapped.
3. In a bull market, you need to 'dumb down'
In a bear market, you have to listen to the big influencers in reverse because they often speak at the most panicked times. Now that it's a bull market, they say buy when you should buy, and you can even make money; it's simply mindless. But the bear market mindset runs deep, and I often miss opportunities because I followed someone else's recommendation and gave up on the coins I should have bought.
Also, when you find that the major players control more than 30% of the chips, or discover a high concentration, you might hesitate. But it has been proven that these concerns are unnecessary. So in a bull market, you need to 'dumb down' and find that subtle balance that doesn't rely solely on intuition.
4. In Meme trading, planning is crucial
Anyone who has gambled or dealt with contracts knows that initially, there is always a plan. However, as emotions fluctuate, people easily get carried away, starting to chase highs and cut losses, repeatedly jumping around, ultimately leading to liquidation. Meme coins are similar; they are the first type in the crypto market that truly threatens the contract market because they are so similar. If you buy right, you can multiply your investment several times and become rich overnight; if you buy wrong, it can halve your investment, which is extremely stimulating to the gambler's psyche. But to make money, you need to control your emotions, formulate a plan, and act against human nature. Following human nature and intuition mostly leads to losses.
In short, to survive in this meme world full of opportunities and risks, you need to adapt, learn, control your emotions, and formulate and adhere to your strategy.
