As an old investor, I just want to share these useful terms with you for your use. These are our valuable experiences gained from going through several bull and bear cycles, and winning or losing hundreds of millions.
I hope to give a reminder to those friends who are thinking of entering this circle or want to make a little money in this circle.
It is also my blessing to reduce the time you spend taking detours.
For those who have not yet attained enlightenment and have never made a lot of money, this rare summary of experiences and lessons is like a treasure.
If you find it useful after reading it, you can give it a thumbs up. If not, just take it as a passing melon.
The essence of wanting to make money in the cryptocurrency world
The first one: First of all, you must “not be short of money”. Many people wonder, isn’t this nonsense?
I don't lack money to get involved in the cryptocurrency circle, so I used a hidden account. It doesn't mean that you really don't lack money, but you need to be in a state of not lacking money.
This is the same as whether you have seen big money or not, which directly affects how much fluctuation you can bear.
You don’t come to this circle to make 10 or 20 percent profit. If you want to make this kind of return, quit early. You are not suitable for the cryptocurrency circle.
Secondly, it is best if you have a job, which is not necessarily the best. A stable small business is also good, so that you have a good cash flow to support you and you don’t have to worry about the future.
The mentality is more peaceful. People's ability to think independently is at its best when they are most physically and mentally relaxed.
When you have the above conditions, you will have confidence and no worries. With confidence, when you think clearly about the reasons for buying and the logic, you can make a decision to buy and not be disturbed by useless information from the outside world.
Making money will come naturally!
Article 2: Ability to review
Making money in the cryptocurrency world without the ability to review past events is like fighting a war without a sandbox!
You have no idea what your enemy or opponent is thinking, what stage the game has reached, whether you should continue to attack or retreat to a defensive position and wait for an opportunity to counterattack.
The vast majority of our friends only know how to charge forward, without any review or reserve forces. They just want to raid the enemy's lair. However, the market does not rush all the way to the top. Even in a bull market, there will be adjustments, shocks, sideways movements, and unilateral structures.
Knowing when to lie down and when to attack requires regular review and summary to discover the shortcomings of your strategy and then fill them.
Third: The strong will always be strong
Ordinary people or retail investors do not have the ability to create news, and most of them can only make money by following market trends. The most direct and effective way is to choose to follow the strong.
This brings us back to the second point. If you have the ability to review past situations, you can screen out the main sectors. It is highly likely that you will make money by always being the leader in the sector.
Fourth: Waiting for opportunities
Sit back and wait for something to happen not because you are stupid, but it is a kind of ability, foresight, and the ability to predict future trends.
Of course, this requires a lot of experience accumulation, whether it is horizontal or vertical expansion, and a lot of reading, learning and practice, to have the ability to predict the trend.
If you think about it carefully, isn’t this a bit like waiting for something to happen? Building a base of capabilities in a field that you are good at will give you more spare energy to expand outwards, and slowly settling down will become the core.
It's similar to when you fly a kite. At first there's no wind, so it can't fly and you have to run with it. When the wind starts, if you stand still and don't run, it will naturally fly high.
Fifth: Never predict the top and bottom of the trend
There is no absolute concept of top and bottom in the market, everything is relative.
Embrace the trend, trend is king. Don’t buy just because the price is low. There is no top to an upward trend and no bottom to a downward trend. Never decide your buying or selling direction based on the price. This is a psychological barrier that must be overcome. Those who are afraid of heights are miserable people.
Sixth: How to choose and buy coins?
With the ability to review, choosing coins becomes a matter of money!
Choose the core of the coin, first choose the sector, then choose the leading coin;
You must choose when the market is falling. Only then can you tell who is just idling around and who is the leader.
How to buy coins? When the market is falling and the trend has not changed, buy the leaders in the sector, because in this way your cost price can be controlled and the risk will not be too great. Often, the tickets with weak defense capabilities will fall, and the coins with long moving averages are often stronger.
Seventh: Repeat and persist in reviewing
Why do we need to review? Because if you don’t review your cryptocurrency trading, it’s equivalent to trading in vain. To review, you need to understand the market trends, track the progress of the project, unlocking and other situations, so that you can have a clear idea of the situation and not panic when the price drops or be happy when the price rises.
The second is that you need to be clear about your own logical thinking, how to deal with short-term and long-term!
Short-term stocks should be compared with the trend of the market. If they are stronger than the market, then you can hold on to them. If they are weaker, we have to consider changing positions or doing T.
For long-term tickets, only track the progress of the project, as long as there is no major black swan. In the meantime, only consider doing T to increase the amount of coins, and do not do any selling behavior.
The above content is for communication and learning only. If there is anything missing, please feel free to add to it.
The threshold to enter this circle is really high. Our community is a community of learning and practice. Not cheating or deceiving is our core value.
