Twelve pieces of advice for newcomers in the cryptocurrency world!
First advice
The cryptocurrency market has gone through its period of wild explosion. What follows is the stage of formal financialization and the competition among capital institutions.
Stop dreaming about increasing the value of a coin by dozens or even a hundred times. According to the current market sentiment, coins that can increase tenfold are rare.
Even if the bull market really comes, there won’t be many coins that can increase more than tenfold.
Second advice
It is true that investing in new stocks in the primary market can bring small investments and huge returns. However, those who recommend you to invest in the primary market will not tell you that 99% of the projects will end up in zero.
Even if you are listed on some small-name exchanges, when some KOLs are throwing chips, there is a high probability that they will ask you to hold on to it and take a step ahead.
The third piece of advice
Although you can make a lot of money by playing contracts with full position and maxing out the multiples, you can also lose a lot of money.
I don’t think anyone will tell you that the essence of cryptocurrency trading lies in rolling positions, rather than how much profit you make from a single order.
The fourth piece of advice
Generally speaking, when someone is frantically CXing a certain coin, it is basically coming to an end.
At this time, if you have held this coin before, you can consider getting off.
If you don’t hold this coin, it’s best not to enter the market at this time, because there is a 90% probability that you will be the one taking over.
The fifth piece of advice
If you are a college student, please focus on your studies and keep cryptocurrency trading as a secondary concern.
If you are a young person under 25 years old, please focus on improving yourself and keep cryptocurrency trading as a secondary concern.
If you are a young person under 30 years old, please prioritize choosing a stable income and supplement it with cryptocurrency trading.
Trading is a hard battle, not something that can be done overnight.
At the same time, trading is a time-consuming journey.
Even a talented trader may need to keep doing it for five years to achieve financial freedom.
Having an excellent off-site money-making ability and a platform that can provide our own sustainable funding supply will help us achieve twice the result with half the effort.
Sixth advice
Good fortune does not come to a house without virtue, and wealth does not come to a door of emergency.
Under what circumstances can water nourish all things? Is it true that water is suitable for nourishing all things when it is still?
So, when you make a profit from trading, please don't be too arrogant, and when you make a loss from trading, don't blame yourself too much.
You must understand the principle that "profit and loss have the same origin".
Regardless of whether you make a profit or a loss, you should summarize yourself from time to time and ask yourself why this order resulted in a profit and why this order resulted in a loss?
Remember, young man, an emotional person cannot do good business.
Seventh Advice
Others will not easily tell you about making money. If someone tells you how much you can earn by investing in this coin, then you have to be careful, because it is possible that he just wants to make a quick buck from you.
The eighth piece of advice
Don’t trust too much those who post the returns from their holdings. It’s possible that they have only made a profit on one of their holdings. In fact, many of them have negative returns. The probability is that they post the returns just to get you to recognize them so that they can harvest your profits.
Ninth Advice
People who play contracts will eventually return to zero, and the accuracy rate is as high as 99%. Don’t disbelieve it, because human desires are infinite, and few people can truly give up gambling and make every transaction rationally.
If you trade a hundred times and lose control once, all your previous profits and principal will be wiped out.
The tenth piece of advice
You should follow some bloggers who share their experiences instead of those who brainwash/promote/or distribute profits. Think about what you can learn from paying attention to them.
The eleventh piece of advice
If you want to do well in trading, you should have your own insights, rather than just following the opinions of others. It is like a blogger sharing his profit-making experience. He can profit from this set of theories, but when you hold this set of theories and suffer losses, it is mostly due to your own factors. It is like when we read "Wang Yangming's Mind Learning". After reading the Mind Learning, can you achieve the "unity of knowledge and action" like Mr. Wang Yangming?
Therefore, figuring out your own set of money-making theory is the golden key to your stable income. Other people's experience can be regarded as fertilizer and as a reference standard for whether it is feasible when building your own theory.
The twelfth piece of advice
Make friends with more veterans in the cryptocurrency circle, even if he is a person who has been trading for many years and still loses money. By spending more time with him, you can find out the reasons for your own losses. You can avoid some of the reasons for his losses in time and trade in the opposite way of him. As a result, you will find that, hey, it turns out that making money is that simple.