December 11th Trading Mindset and Mental Management

Summarized a few points:

1. Always remember "As long as you don't chase highs, the retail investors turn into seasoned traders"

2. In a bull market, hold onto coins; in a bear market, hold onto cash.

3. Iron rules of trading:

(1) Opportunities arise from declines; risks arise from increases.

Don’t rush to buy, don’t be greedy to sell, don’t drag on stop-loss, and don’t diversify too much.

Never go all-in, follow the trend.

(2) Buy small on small dips, buy large on large dips, buy aggressively on sharp declines, don’t buy when prices don’t drop.

Sell small on small rises, sell large on large rises, sell aggressively on sharp increases, don’t sell when prices don’t rise.

4. Each buy and sell may seem like a simple transaction, but it contains extremely profound principles, which the vast majority of people cannot easily grasp, let alone execute completely. Because of this, the cryptocurrency market has one of the highest elimination rates, more stringent than the 80/20 rule. This is a competitive market, a market where only a few succeed, a marathon of endurance and wisdom.

5. Market sentiment will not always be optimistic, and good luck will not always accompany you. According to my previous mindset in buying coins, the money earned through good luck will ultimately be returned to the market during cycles and probabilistic rebalancing.

6. After the bull market ends, still empty-handed. Because without skills, without personal trading strategies, you should reflect on whether you actually made money in your past trading endeavors.