The Blood and Tears Road in the Crypto World: From Selling My House at a Loss to Borrowing Tens of Thousands to Earn Millions
Today, I'm sharing with you the 10 iron rules I've kept at the bottom of my drawer. If you can follow more than 5 of them, you'll definitely outperform over 90% of the retail investors. If you want to discuss experiences of pitfalls, feel free to reach out to me.
1. The market drops but the coin doesn't; this is a signal from the market maker to protect their holdings. If you hold on, there will definitely be gains.
2. Newbies should look at the 15-minute and daily charts for short-term trading. If it breaks above, sell quickly. For medium-term, focus on the 1-day chart. Don't trust fancy indicators.
3. If a coin doesn’t move for 3 days or drops 5%, immediately cut losses and switch coins. Don't let it turn into a deep loss.
4. If a coin has been halved from its peak and then continues to drop for 9 days, it's a signal to buy in decisively at the bottom.
5. Only chase leading coins; they rise the most and resist declines strongly. Don’t fear high prices or catch falling knives.
6. Don't try to catch the bottom; drops can be endless like jumping off a building. If you need to cut losses, do it. Timing the right purchase is more important than getting a cheap price.
7. After making a profit, reflect on whether it was skill or luck. Solidify your strategy for consistent earnings.
8. If uncertain, stay in cash. Protecting your capital is not gambling. Focus on the success rate and risk-reward ratio, not just speed.
9. New coins attract capital easily but when sentiment changes without a fundamental basis, they will crash. Enter and exit quickly.
10. The value in the crypto world lies in public consensus. People promote projects, and wealth is shared. Ten years of effort can be realized in a day.
The valuable lessons learned from pitfalls are real, not empty. Each point is filled with blood and tears. For example, with point 4, I relied on it last year after SOL halved and dropped for 9 days, and I made 3 times my investment in half a month.
Point 8 helped me avoid the 312 crash by staying in cash and preserving my capital.
If you want to chat about your money-losing experiences, or which rule hit home for you, I can share my practical lessons over a couple of cups of tea.
Remember, the crypto world doesn’t lack opportunities; it lacks the discipline to act decisively. If you follow these rules, you too can transform from a retail investor to a savvy trader.
Stay tuned: $pippin $WET $COAI
