In the turbulent seas of the crypto world, true experts do not rely solely on technology; rather, they depend on a profound understanding of market rules and strict adherence to them. These are the six iron laws I have always followed, shared with those destined to encounter them, allowing you to navigate the path of cryptocurrency trading with ease and skillfully manage risks!
1: Fluctuations are Unpredictable, Mindset is Key: Don't hastily claim a peak during an uptrend, and don't assert a bottom during a downtrend. Just like whether Bitcoin can reach $150,000, the answer can only be revealed when the market is crazy. What you think is the bottom may just be a brief pause; the true bottom is always unfathomable.
2: Build Positions Gradually, Stability is Key: Experts never rush to succeed when building positions, controlling each buy and sell within one percent. This strategy allows them more opportunities to try and error, lower costs, and reduce risks.
3: Daring to Chase Highs Achieves Extraordinary Results: In the crypto world, being afraid of heights is a sign of misfortune. Understand that the cost for major players in a cryptocurrency is far more complex than you imagine, including promotional expenses, chip costs, development fees, etc., which can be several times or even dozens of times the investment. Therefore, daring to chase highs is essential to seize real opportunities.
4: Bull Market Turnaround, Don't Miss the Opportunity: The bull market is the only chance for a turnaround. Just like Buffett, no matter how smart he is, if he misses the bull market, he can only wait silently in the bear market. Therefore, in the crypto world, seizing the bull market is seizing the key to wealth.
5: Technical Indicators, For Reference Only: Technical indicators are often lagging and can only serve as references rather than the main basis for buying and selling. During strong uptrends, while technical indicators may look good, prices are already high, and chasing gains should be approached with caution.
6: Full of Confidence, Fearless in the Market: True cryptocurrency experts are full of confidence; they have experienced losses but have never been defeated. They firmly believe that they will eventually conquer the market, and this belief is key to their success.
Trading cryptocurrencies is not only a contest of technology and luck, but also a test of mindset and wisdom. Only those who master these iron laws and strictly adhere to them can remain undefeated in the crypto world!