Once you gain insight into trading cryptocurrencies, your career will feel like it's on cheat mode! In the crypto world, true experts are not necessarily those with exceptional technical skills but those who strictly adhere to the iron laws of the market:
1. Never say the top during an uptrend, and never say the bottom during a downtrend. Many people don't believe Bitcoin can reach $150,000, but that's because the crazy bull market hasn't arrived yet. Just think about it: you thought $68,000 was the bottom, would you believe it if it dropped to $62,000? In the end, it spiked down to $56,000.
2. Each trade should ideally be one percent. Why is it harder with smaller amounts of capital? Real experts build their positions in increments of one percent, just think about how many trial-and-error opportunities they have! How low their costs are!
3. Being afraid of heights means you're a doomed person. You should know that the main players have a high cost in any cryptocurrency, including promotional costs, chip costs, development costs, etc. This isn't just 20%-50%, but several times, even dozens of times.
4. A bull market is the only opportunity for a turnaround. Even Buffett recognizes losses during a bear market, so he can only stay in the U.S. stock market, remaining in Omaha!
5. The lagging nature of technical indicators. This means that technical indicators can only serve as references and should not be the primary basis for buying and selling. During a strong uptrend, technical indicators also look good, but they've already risen significantly; would you chase it? Take the MACD indicator as an example: a golden cross one day can lead to a death cross the next day—this is common.
6. Firmly believe that you will eventually conquer the market. Which big player isn't filled with confidence? Everyone has experienced losses, but nobody has ever been knocked down! If you don't even believe that you can make money, do you think you can actually earn it?
As a seasoned cryptocurrency investor, I, Tu Fei, share my experiences and insights. Interested in the crypto world but don’t know where to start? Click on my profile to view the introduction to the Zhuye public account and join the group to witness miraculous moments together.
