To quickly escape being a 'retail investor' in the cryptocurrency space and become a 'whale' in the market, you need to do the following 9 points:
1. First, adjust your mindset. Treat trading cryptocurrencies as a game; it doesn't matter whether you win or lose. Only in this way can you trade cryptocurrencies with ease.
2. Use spare money for trading. The funds you use for trading cryptocurrencies should be money that, if lost, won't affect your daily life. Only by using spare money can you easily enter and exit trades.
3. Take the time to learn. If you want to trade cryptocurrencies well, quickly understand practical technical indicators and strategies, engage in more practical trading, and summarize your experiences.
4. Be cautious in your first trade. Retail investors already have limited funds, so it's crucial to focus on effectiveness. Especially for your first trade, thorough preparation is essential to aim for success.
5. Protect your principal. Trading with the money you've earned will make you feel more relaxed and allow your operations to be more fluid.
6. Develop your own set of methods. To transform from a retail investor to a 'whale,' avoid chasing prices and the mentality of going all in. Always remember that as long as you don't chase highs, you can turn from a retail investor to a 'whale.' Be good at learning and summarizing a set of trading skills that suit you through practical operations; this is fundamental to becoming a 'whale.'
7. Only trade strong leading coins and concentrate your funds. When trading cryptocurrencies, focus on leading coins. Diversifying funds not only increases transaction costs but also makes it difficult to accurately analyze and grasp the market characteristics of each coin.
If you enjoy contracts, like to study charts, and research technology, click on my avatar. I have years of experience and skills in the cryptocurrency space that I share freely. I'm waiting for you in the community, always online, welcome to discuss and improve together.
