If you want to get rich in the crypto world, you must do this: 1. Do not invest more than 60% of your assets in cryptocurrencies. 2. Never borrow money or raise funds to buy cryptocurrencies. 3. Always buy high market cap leading coins. 4. Make sure to buy when prices are low. 5. Don't worry about short-term fluctuations; hold for the long term. 6. Be patient and avoid frequent buying and selling. 7. Always believe it will rise and don't listen to random news. 8. When it rises to a high position, decisively liquidate everything.
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In cryptocurrency trading, mindset is crucial. Here is a detailed explanation of the trading mindset:
1. The Importance of Mindset
Mindset is the key to successful trading. In the ever-changing cryptocurrency market, investors need to maintain a calm and rational mindset to cope with market fluctuations.
A good mindset helps investors make informed decisions and avoid making wrong trading choices due to emotional fluctuations.
2. Mindset to Have
Calmness: Whether in profit or loss, one should maintain a calm demeanor, neither getting arrogant nor rushing to recover losses.
Patience: In trading, patience is essential. Investors need to learn to wait for the right trading opportunities instead of blindly following trends or rushing for quick results.
Decisiveness: During the trading process, when encountering problems, one needs to act decisively to avoid missing good opportunities or worsening losses due to indecision.
Independent Thinking: Investors should have the ability to think independently, not be swayed by others' opinions or market sentiment, and adhere to their own trading principles and strategies.
3. Mindsets to Avoid
Greed: Excessive pursuit of profit often leads investors to ignore risks, resulting in reckless trading decisions.
Fear: Fear of the market can cause investors to exit too early or miss buying opportunities, affecting trading outcomes.
Indecision: Becoming entangled in minor price fluctuations or market trends during trading can disrupt investors' decisions and reduce trading efficiency.
In summary, the trading mindset in the cryptocurrency market is vital for investors. Maintaining a calm and rational mindset while adhering to one's trading principles and strategies is key to standing firm in the cryptocurrency market.
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Looking back at the journey of Bitcoin, it has been bumpy all the way, but after experiencing the wind and rain, it can always reach new highs. This is very similar to our life. As long as we overcome setbacks, we can reach one peak after another in life.
It is meaningless to rise and fall every day. The bull market is about subtraction, not adding burden to yourself. If you look at the rise and fall every day, you can't hold it at all, and the probability of making money is not high.
When the bull market is about to end, you look back and slap yourself. How good it would be if I had held it at the beginning. There are not so many ifs in life, and there are not so many at the beginning. You only need to know one thing now: the bull market is not over yet.
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About the High Position Altcoins in a Bull Market -- Pursuit, Risk Aversion, Replenishment
Conditions: After a bull market has started for a while, when Bitcoin shows significant divergence at high levels and stagnates, and altcoins have accumulated a certain increase, it is necessary to observe Bitcoin for altcoins. 1. Pursuit: When BTC is consolidating or rising from a low point towards a resistance level, and altcoins have a profit effect, even at high positions, there is still room; in a bull market, the low points are raised, and the high points keep reaching new highs; 2. Risk Aversion: When BTC approaches a resistance level for testing, be wary of a significant drop if BTC fails to break through. It is necessary to cut losses in altcoins promptly; even those that haven’t risen should be cut off; otherwise, when BTC drops, altcoins will face significant declines, potentially around 30%; 3. Segmentation: The market can be approached segment by segment. Cut losses near Bitcoin's resistance level, partially return altcoin positions to Bitcoin or remain in cash waiting. A bull market is a spiral rise, and it cannot be achieved all at once. Even if some altcoins miss out on independent trends, there are still other altcoins to choose from; 4. Replenishing Altcoin Positions (1) When Bitcoin fails to break through and stabilizes near support, gaining support, replenish altcoins again, betting on a rebound from overselling; the more it drops, the more it rebounds; (2) When Bitcoin breaks through the resistance level, increase altcoin positions; the potential gains for altcoins after breaking through the resistance level are larger;
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Trading is like a tug-of-war, where patience and wisdom are the key. Every operation feels like a contest with the market. The market will make its move, I will counter its move, and when I can't win, I take a step back and wait for the next opportunity. Over time, I've grasped some principles and summarized seven key insights that helped me transform from a newbie overwhelmed by the market into a seasoned player who can handle it with ease.
1. Small bets for big gains. You must understand that the market has much more money than you do; you can't confront it head-on, but you can seize a trend and take a significant bite out of it. When you can't win, retreat decisively with a small loss; when you can win, pursue aggressively to maximize profits.
2. Test with fixed chips. Every time I operate, I control my losses within a fixed range, and that is my stop-loss cost. As long as the losses are manageable, my mindset can remain stable.
3. Only operate on explosive points. The main battleground of the market often appears during high volatility; only then can you seize a big market opportunity. Trading in a range? No, I don't touch that because it’s too frustrating and you can't make significant money.
4. Focus on ambush. I generally don't take the initiative to attack but instead wait for the market to make its move first. The market's first step often reveals its intentions; at that moment, acting in accordance with the trend can lead to greater efficiency.
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Each round of a bull market has its own hot spots. These leading coins have stable and high growth rates. If you hold the leading coins with the largest market share, no matter what the current price is, it can go higher
2. Do not change positions
Frequent position changes will cause your money to change less and less, because most people cannot keep up with the changes in the target, and when you switch over, the probability is that you will chase high
3. Only buy and do not sell
Selling in a bull market will only make you sell it. The coins in your hands will definitely become less and less, and the cash you hold will become less and less able to afford the original number.
If it falls, you will cover your position, and if it rises, you will stop, and control your hands.
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How to catch the coolest guys during the altcoin season?
Focus on the strongest coins during the first wave of rising prices, and pay attention to the most resilient coins during the second wave of corrections! Then, wait for Bitcoin and Ethereum to adjust properly, and gradually buy altcoin spot in batches! Wait for the third wave of the peak rising trend!
Don't overly seek to catch the leading coin in the very first round; that requires sufficient strength + luck. Most of us can truly catch the upward trend after waiting for the correction to start, catching the third wave that follows~ Be patient; when Bitcoin and Ethereum finish their adjustments, these quality altcoins with strong backers will unleash their true power!
The market has cycles, and fluctuations have phases. It's unrealistic to expect to understand and catch the trend every minute of every second! What you need to do is focus on the operational status of the trend, catch the market you can understand when you are most confident, and be prepared for the worst, that’s all.
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Never trade against the trend. Once the upward trend is established, all you can do is buy or wait and see. Never sell short just because you feel the price is too high - again, don't go against the trend. There is no rule that says you must run with the crowd, but at least you should not go against the crowd. If you like contracts, like to study the market, and study technology, click on the avatar. I have many years of experience and skills in the currency circle, and I will share them for free. I am waiting for you in the circle, online at any time, welcome to discuss and make progress together $BTC $XRP $SOL
1. Control the Emotion of Chasing Gains: Chasing gains and cutting losses, selling off at every dip and buying at every peak, you end up losing everything yourself.
2. Learn More Relevant Knowledge: Understand the essence of digital currency, study more, and turn speculation into investment. Your mindset will undergo a complete transformation.
3. Do Not Be Blindly Pessimistic: People always say it has dropped by half; optimistic people always say, 'Hey, look, the market value is still half.' Pessimists see the glass as half empty, while optimists see it as half full. Please maintain an optimistic mindset and do not be swayed by the majority in the market; align yourself with the minority, as success belongs to the few.
4. Not Losing is Also Gaining: It’s better to not earn than to lose money. How to view not making money versus losing money? For investors, not making money and losing money are two completely different concepts. Not making money means that many times your analysis and judgment are still correct; it's just that you didn't dare to stick to your viewpoint or lacked the courage to enter the market, missing out on a profit opportunity. It's just a bit of regret and disappointment. There will always be countless opportunities in the future as long as you can summarize past lessons and maintain a good mindset to profit. Click on my profile to follow me for free sharing of bullish market strategies, various contract and spot reference points. Be my fan, and I will help you succeed; you just need to relax. $BTC $XRP $SOL
Remember not to be greedy: there is no need to expect to buy the bottom and sell the top every time, avoid greed and panic, and get the profits you can get. You must treat every market fluctuation with a normal mind, avoid greed and panic, and do not seek to become a master of selling the top and buying the bottom. Just follow the trend to achieve success. Otherwise, it is likely that you will not be far from joining the team of "masters" of buying the top and selling the bottom. Many investors hope that they can become masters of "buying the bottom and selling the top" in real trading, and always hope that each of their orders can be done very beautifully. In reality, this method may be a behavior that is not worth the loss. No one will care how much effort you have put in, whether you are tired or hurt, they will only look at where you stand in the end, and then envy or despise you. Therefore, if you can't fight alone, then you need to find a way to win together! If you want to know more about the relevant knowledge of the currency circle and the first-hand cutting-edge information, click on the avatar to follow me. Players who have doubled 10 times in a month are also welcome to follow orders. Daily market analysis, high-quality potential currency recommendations $BTC $XRP $SOL
Here are some small suggestions that I hope will help you.
1. Understand the essence of speculation: Distinguish between primary and secondary, mainly speculate while it is just a side job for you. Treat it as a new way of managing finances, a skill to earn extra money. Of course, if you treat it as your main job (professional speculator), then forget what I said.
2. No need to watch the market every day: There is no need to watch the market daily. Monitoring the market is the responsibility of those in the circle. Most people only need to slowly put their spare money in, let it grow in the pool, and then retrieve it later. Speculating on cryptocurrencies is that simple; it’s not as complicated as you think.
3. View price fluctuations calmly: During the investment process, we need to maintain a calm mindset. Do not calculate daily how much you have lost or gained. Because regardless of the type of commodity, prices will always fluctuate within a cycle. They will drop during the crazy times and recover during the recession. These fluctuations are very normal. If you focus too much on short-term gains and losses, your mindset will follow price fluctuations, and in the end, you will definitely be the loser. Follow me by clicking the avatar for daily shares of various potential cryptocurrencies, and I will guide you in ambushing various hundred-fold coins, $BTC $XRP $SOL
People are not confused by the things themselves, but by their views on the things -- Ancient Greek philosopher
A book writes: "An average general, when faced with a complex environment, will list a pile of problems and question marks for themselves, getting flustered and unable to find their way. A true talent for leadership, however, cuts through the chaos with a sharp blade, seeing the essence and crucial points from seemingly ordinary situations and taking decisive action." This is remarkably similar to investment decisions; excellent investors are adept at identifying the main contradictions in both the market and the company, and can see the whole from the details, ultimately forming the 'logical fulcrum' for their decisions.
What is mindset? Simply put, mindset is your attitude towards the things you face. There is also a more advanced version that says mindset is essentially about being a bit more open-minded.
The importance of mindset for a person is self-evident; mindset determines destiny. Those with a good mindset often encounter better opportunities, have better mental health, and are more likely to find happiness. Conversely, those with a poor mindset, filled with resentment, often miss many opportunities.
The most important point when entering the cryptocurrency circle is to maintain a good mindset, followed by technical analysis, fundamentals, and news. If your mindset collapses, you are destined not to make money, and your life and mental state will be greatly affected. Most inexperienced traders have fragile hearts; in reality, only a few can truly understand!
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Don't panic in trading, don't be impatient (II) 6. Hold your coins in a bull market, don't let go When a bull market arrives, hold onto your coins as if they are a lifeline! Don't let go easily, or you might miss out on a big wave of market movement!
7. The top is not sharp, at least there is a double top Don't rush to sell just because the price has risen high. A true top will not be so sharp; there will at least be a double top. Remember this, and you won't sell too early!
8. MACD dips to the 0 axis, a buying point appears The MACD indicator is quite magical; when its DIF line dips near the 0 axis but does not break it, that is a buying point! Remember this mantra, and your trading will be easier!
9. 120-day line 'upward, buy on dips If you see that a certain coin's 120-day line is showing a bullish arrangement and the trend is upward, then don't hesitate, buy on dips! The accuracy of this is quite high!
10. Continuous small bullish candles °, the main force is at work If a certain coin shows continuous small bullish candles, it's like seeing a signal from the main force. They are quietly collecting chips! At this time, you should pay more attention! Click on the avatar to follow me, I will share bull market strategies for free, various contract and spot reference points, become my fan, and I'll help you succeed. You just need to relax. $BTC $XRP $SOL
1. Patience is golden, don't panic in sideways. When the price seems to be stuck in one place and not moving, don’t rush in. At this moment, patience is your treasure. Because the best part is often yet to come, waiting is worth it!
2. Volume and price both rising, buy it! If you see a certain coin's trading volume and price breaking through previous levels and then stabilizing, it’s like seeing a green light, hurry up and buy it!
3. Leading coin + dropped? Opportunity has come! Did the leading coin that everyone is fighting for drop? Don’t be afraid, this is your opportunity! Grab it, maybe the next one to double is you!
4. Gaps are symbols of strength. If the price of a certain coin suddenly jumps up, leaving a gap, its strength is quite strong. If the price later retraces but doesn’t fall below that gap, just wait to see it continue to soar!
5. Soaring limit up? Don’t be envious. Seeing others’ coins soar and hit the limit up? Don’t be jealous, that might be the main players' game, don’t fall for it easily.
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I categorize the levels in the cryptocurrency world into these four levels: (2) A 100x goal can be achieved in 2 or 3 stages, as long as you complete 2 stages of 10x each, or one stage of 5x and another stage of 5x, and then one stage of 4x. This can all lead to a 100x path. The time required is 2 or 3 cycles. This is the true progression from easy to difficult.
Many people overlook the power of time, overestimating their abilities, thus missing out on great opportunities. They miss the chance for 100x.
Now many people know that Bitcoin can rise, possibly to 1 million, maybe to 10 million, or even 100 million. Indeed, there are people who believe in all of this.
However, there is an unresolvable contradiction here; reaching these prices requires a large amount of time.
And the time people enjoy money is extremely limited, with the best years being between 18 and 50.
So after the age of 50, having a lot of money no longer holds much significance for pure enjoyment; it just means living without pressure.
This is the reason they are anxious to make money. This is also the root cause of why the miracle of compound interest is consistently hard to achieve.
So you wouldn’t envy Warren Buffett, who is over 90 and has hundreds of billions. But you would definitely envy a 20-year-old who has tens of millions.
So if you were in that position, how would you choose?
My suggestion is to try to choose methods that progress from simple to difficult. Start by accumulating coins, think of every possible way to increase your holdings, accumulate enough coins, and sell during a bull market. In a bull market, look for other hot concepts, jump on a bit, and earn a little more.
This is something you can actually control and grasp.
As for the path of trading, it lies in the heart; people's desires are generally similar, while the market is ever-changing. To seize the market’s changes based on human desires and make profits is truly difficult.
If you are really determined to undertake this challenging task, you should still start with simple things first. There is no mistake in this.
By doing simple things, if you achieve good results in the end, you may end up abandoning this difficult task. You might end up happily repeating simple tasks. That moment indicates your enlightenment. If you are currently losing and don’t know what to do, you can click to follow me, tap my avatar to find me anytime, as I share all contract and spot trading strategies. Just to gain followers. $BTC $XRP $SOL
I classify the levels in the cryptocurrency world into four levels: (1)
1. Initial Exploration 2. Entering the Room 3. Transcendence 4. Reaching the Peak.
Initial Exploration: This means being able to buy, but not knowing which coins are good. Also, not knowing when to sell. Lacking the ability to make money, only able to lose money without the possibility of earning.
Entering the Room: This means understanding the cycles, being able to buy and sell. This ability allows one to earn 3-10 times during a bull market.
Transcendence: Knowing projects, understanding cycles, being aware of hot concepts, and knowing marketing. This ability enables you to continuously earn 3-5 times. In a bull market, you can accumulate several 3-5 times. You can earn dozens or even hundreds of times.
Reaching the Peak: This refers to figures like Sun Ge, Xiao Lai, and CZ who are at the top of the food chain. Generally, these are unreachable by ordinary people; timing, luck, and ability are all essential.
Those who reach the peak are very few; after reaching the peak, they become the peak. It is the ultimate limit, and this limit is created by them, hence called 'Reaching the Peak'. It is an existence that cannot be surpassed.
Initial Exploration: I think with some effort, you can achieve this in a day or a few days.
Entering the Room takes at least 2 years and must go through both bull and bear markets.
Transcendence and Reaching the Peak cannot be measured in time. At least 4 years. This realm depends on an individual's enlightenment and continuous accumulation of abilities.
Therefore, reaching Entering the Room is something that everyone has the potential to achieve. Then, with persistent effort over time, you can ultimately attain the ability of Transcendence.
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In the cryptocurrency world, try to choose an easier way to make money first before tackling the difficult ones!
There are too many stories of sudden wealth in the crypto space, and people tend to unconsciously believe in those stories while ignoring cases of people losing their fortunes.
People often exhibit excessive confidence in their own abilities while appearing modest on the surface.
In reality, everyone has a thought of making 100 times their investment and firmly believes they can do it.
They think that just because others can’t do it doesn’t mean they can’t, and perhaps they can. How would they know if they don’t try?
So they set a goal to earn a hundred times right from the start, and the path to achieving this goal is to continuously repeat trading.
In this world, how can one have it all? Fast gains come with either high risk or high difficulty. Slow gains have low risk and low difficulty.
Trading brings money the fastest, but it is also the hardest way to make money in the crypto space.
I asked a professional in finance who specializes in market-making. He earns 3% a day, with pure profit being only $1,000 to $2,000.
He said trading is the hardest way to make money in investing. Some people can achieve it, but he himself does not have that ability.
He said if a person's wealth is earned through trading, then as long as they continue, they will eventually lose everything quickly.
Unless they stop or save the majority of their profits.
If you think that making a living from trading is very difficult and requires strong abilities, then you must also acknowledge that a person's skills cannot be developed overnight but require continuous experience accumulation and increasing understanding to achieve. Relying on luck is not dependable.
So is it really correct to choose the hardest path right from the start?
There is a very important principle in trading: do not make small money, do not lose big money.
These 8 simple words are actually very difficult to do. For example: you open an order for 2W, and the price rises to 21,000 after opening. You are very happy, stop profit, and make 5% happily. As a result, the market continues to rise to 2.5W.. You make 5% and miss 50%; Then you warn yourself to make big money, and you will definitely not stop profit this time. Then the market returns to 2W, you open another order, and the price rises to 21,000 after opening. You warn yourself to learn from the last lesson and hold on to make big money. As a result, the market returns to 2W and falls below 2W to 19,500, and you stop loss.
Many people have been constantly switching in this dilemma all their lives, and they can't get out of it all their lives. Is there a way to make money in both big and small markets? No, you have to choose one of the two. I usually choose not to make small money. I can't do what I said 100%, and no one can do it 100%, just like men can watch less P stations, but they can't stop watching P stations, unless you cut yourself off and stop being a man. But I can tell you the right concept. How much you can do depends on your personal cultivation. Each of us can only achieve a certain proportion of these concepts, and try to improve this proportion as much as possible.
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This is the characteristic of the cryptocurrency market, especially for small-cap altcoins. Once they start to rise, they are often very persistent and rarely give obvious opportunities for people to buy at the bottom. If you think there is a good time to buy at the bottom, it is likely that the market has come to an end.
This paragraph mainly wants to express two points:
1. Learn to chase the rise: If you want to keep up with the pace, you must follow up decisively when it rises and dare to "catch the car", rather than waiting for a crash to buy at the bottom, because the crash of most altcoins often means that the market has ended.
2. Don't buy at the bottom of altcoins: 99% of the altcoins have basically ended after the crash. So far, don't be obsessed with buying at the bottom.
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If you want to degenerate, no one will stop you, but if you want to stand out, there will be many people who will stop you. Don't disbelieve it, in fact, few people want you to live better than him! The greatest sorrow of a person is that he forms a logical closed loop too early at a low level, and he can never see the logic outside the logical closed loop.
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