I'm 40 this year, with a net worth just over 20 million. What many people don't know is that when I first entered crypto eight years ago, the most expensive lesson I paid for wasn't losing money—it was nearly letting the market break my confidence. I got liquidated three times. Each time, I charged in full of enthusiasm, only to be crushed by the market. I made it through the mania of bull markets and the despair of bear markets. It wasn't until I worked out a strategy that could weather both that I finally found consistency.
Here are 10 rules for today. Rule No. 8 in particular is where nearly 90% of people go wrong.
With a small account, learn to wait instead of going all in. With 200,000 in starting capital, catching two or three moves of 30% or more in major coins is enough. In a bull market, what you should fear most isn't missing out—it's being fully invested and getting trapped. Those who dare to stay in cash are the real hunters.
Learn not to lose before you learn to make money. Don't keep saying, “This time is different.” Practice with a paper-trading account first. Learn to protect your capital before thinking about profits. One loss in live trading could mean you never get another chance.
Be wary: good news can be bad news. If a major announcement sends prices soaring that day, a gap-up open the next day is often a chance to sell. Market makers know better than you how to use good news to cash out at your expense.
There's one thing you should always do before a holiday. In recent years, prices have had a fairly high chance of falling in the week before a holiday. Either reduce your positions or stay in cash through the holiday. You can reassess after it ends; there's no rush.
The key to medium- and long-term investing: always keep some powder dry. Buy and sell in stages. Cash flow is your moat. If you use up all your ammunition, you won't be around for the next round.
For short-term trading, watch momentum. Buy as soon as price breaks through resistance on strong volume. If it moves sideways on low volume, it's better to miss the trade than get it wrong. Missing out bruises your ego; getting it wrong costs you capital.
A sharp drop can sometimes be an opportunity. A slow decline may keep going. A sudden, high-volume drop may be followed by a rebound. Don't treat these two kinds of drops as the same.
Rule No. 8: 90% of people get wiped out by “I'll wait a little longer until I break even.” If you lose 50% of your capital, you need to make 100% to get back to where you started. Are you sure you can do that? Cut losses quickly and let profits run. If you keep waiting, you'll most likely end up in an even deeper hole.
For short-term trades, you can look at the 15-minute KDJ. Buy on a golden cross and sell on a death cross, using volume to filter out false signals. If you jump in based on one signal alone, that's just a gut feeling.
Less is more. Three to five profitable strategies are enough. More indicators don't necessarily mean more profits. When you overload yourself with charts, your fingers get itchy.
The harshest thing in crypto isn't the market—it's how often you tell yourself “just wait a little longer” when it's time to get out.
I've written up how to put Rule No. 8 into practice in @波段王龙哥 . If you're still losing money and waiting to break even, comment with how much you have left and what you think you should do.
Here are 10 rules for today. Rule No. 8 in particular is where nearly 90% of people go wrong.
With a small account, learn to wait instead of going all in. With 200,000 in starting capital, catching two or three moves of 30% or more in major coins is enough. In a bull market, what you should fear most isn't missing out—it's being fully invested and getting trapped. Those who dare to stay in cash are the real hunters.
Learn not to lose before you learn to make money. Don't keep saying, “This time is different.” Practice with a paper-trading account first. Learn to protect your capital before thinking about profits. One loss in live trading could mean you never get another chance.
Be wary: good news can be bad news. If a major announcement sends prices soaring that day, a gap-up open the next day is often a chance to sell. Market makers know better than you how to use good news to cash out at your expense.
There's one thing you should always do before a holiday. In recent years, prices have had a fairly high chance of falling in the week before a holiday. Either reduce your positions or stay in cash through the holiday. You can reassess after it ends; there's no rush.
The key to medium- and long-term investing: always keep some powder dry. Buy and sell in stages. Cash flow is your moat. If you use up all your ammunition, you won't be around for the next round.
For short-term trading, watch momentum. Buy as soon as price breaks through resistance on strong volume. If it moves sideways on low volume, it's better to miss the trade than get it wrong. Missing out bruises your ego; getting it wrong costs you capital.
A sharp drop can sometimes be an opportunity. A slow decline may keep going. A sudden, high-volume drop may be followed by a rebound. Don't treat these two kinds of drops as the same.
Rule No. 8: 90% of people get wiped out by “I'll wait a little longer until I break even.” If you lose 50% of your capital, you need to make 100% to get back to where you started. Are you sure you can do that? Cut losses quickly and let profits run. If you keep waiting, you'll most likely end up in an even deeper hole.
For short-term trades, you can look at the 15-minute KDJ. Buy on a golden cross and sell on a death cross, using volume to filter out false signals. If you jump in based on one signal alone, that's just a gut feeling.
Less is more. Three to five profitable strategies are enough. More indicators don't necessarily mean more profits. When you overload yourself with charts, your fingers get itchy.
The harshest thing in crypto isn't the market—it's how often you tell yourself “just wait a little longer” when it's time to get out.
I've written up how to put Rule No. 8 into practice in @波段王龙哥 . If you're still losing money and waiting to break even, comment with how much you have left and what you think you should do.
