In this bull market, we are fortunate to participate. The total market capitalization of cryptocurrencies ranks third globally, only behind gold and Apple. However, I am unclear about what contribution the existence of cryptocurrencies has made to human survival; at least I cannot see it at the moment.
The coins you hold do not equal money. Many people have made money in the crypto space, especially the underdogs. Wealth itself has not been created; it has merely been transferred.
In terms of mindset:
We must approach trading or buying spot with a mindset of managing investments with spare money, rather than having a gambling mentality for getting rich quickly. These two different mindsets lead to different values in investment.
The operational value research of projects involves multiple factors. It's not just about having excellent technology; that's not the case. To be frank, that kind of statement is quite extreme.
There are thousands of paths to take; which one is not that important. Among many paths, the one that suits you is the true path.
Investing at low levels and having potential reserves is one way; chasing highs and cutting losses is also a way. If your thinking is right, then the market shouldn't have all kinds of people. I mean, I never firmly believe I am definitely right; rather, I am willing to be flexible. Right and wrong have never been that important; it just needs a result.
Trading methods:
A complete trading system requires a rigorous trading strategy.
I have a habit of being bearish when prices drop and bullish when they rise. Many people may have questions! Shouldn't it be to short at highs and go long at lows?
Do you think experts always chase high on the right side? First buy on upward retracements and sell on downward retracements; this is following the trend. Shorting at highs is like trying to call the top. Many people feel they can't read the charts?
The line is just a historical trend of price fluctuations of a token; it does not have the function of extending speculation to find patterns.
Many people say that indicator moving averages are useless, but they are not. Their usefulness does not lie in finding standard answers.
Can't guess the top or the bottom?
However, traders will first derive some patterns from these lines.
Let them have a basis for trading.
What I want to say is to listen, watch, and learn more, and believe in yourself.
I don't like to buy coins that are lifeless at the bottom. One reason is the time cost, and another is the capital cost. First, only when prices rise can trading conditions be met. Active liquidity, high trading volume, and large volatility are essential.
Knowing that I don't have much ability, the right time is just when the market happens to align with my guesses, and that's all.
If you want, you can share your logic and insights every day. If you never speak, you will never say anything wrong. So the more you speak, the higher the probability of being wrong. This is the essence of things.
In trading, we actually can't find a standard answer; what suits you is good enough. The same goes for being a person and doing things. Being kind to others, humble, and respectful is a good quality; is this the only standard for being a person? The answer is no.