$ICNT Some truths in trading, written for those who want to stay in the crypto world for a long time
The crypto world lacks opportunities, but what it lacks is emotionally stable people.
I have seen too many people who are skilled in technical analysis, yet they go bankrupt due to a collapse in their mindset.
The real difference is not in cognition, but in whether you can execute your plan when emotions rise.
Three iron rules to lock in impulsiveness
1. Never go all in
Going all in is like gambling with your life; once the market reverses, your mindset collapses in an instant. I will divide my capital into 5 parts, with each position not exceeding 20%. Losses do not affect the foundation, and profits allow for increased stakes.
2. Automate stop-loss and take-profit
Stop-loss is not a suggestion, it's the bottom line. I set a hard stop-loss at 3%; when it hits, I cut it immediately; for profits exceeding 15%, I take profit in batches, leaving half the profit to run.
3. Refuse 'last-minute decisions'
All impulses during trading are traps. I insist: remain still in sideways markets, dare to buy during sharp declines, and reduce positions when reaching highs.
Four types of market conditions, one strategy
In a ranging market: Sell high, buy low, only look at support and resistance levels, do not be greedy.
In a breakout market: The longer it consolidates, the more violent the breakout; once the direction is clear, follow decisively.
In a trending market: Only follow the trend; pullbacks are opportunities to enter, and rebounds are signals to take profit.
In an emotional market: After large ups and downs, there is often a recovery market; contrarian operations have a higher success rate.
At critical moments, act against human nature
Sell during sharp rises: When the market is boiling, it is often a distribution opportunity.
Dare to buy during sharp declines: When panic selling occurs, pick up cheap chips.
Stay out during sideways markets: When the direction is unclear, doing nothing is the best action.
I will place orders at key price levels, such as buying at support levels and selling at resistance levels, letting the market trigger itself.
Those who can survive in the crypto world are not the smartest, but the calmest.
Treat trading as a long-term project, not a gamble. Slow down to go further.
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