How to survive in the current market
First, directly cut the leverage by 90%. In an environment with poor liquidity and a quiet market, using high leverage will only lead to a faster demise.
Second, break down the position into three layers: 1. Survival, keep 8 months of living expenses to support family spending, never touch the living expenses; 2. Secondary offensive layer, a particularly small position used to refine the trading system, maintain the trading feel, mainly focus on mainstream BTC and ETH for short-term trading; 3. Dream layer, hold onto the chips of your dreams, willing to invest in the favorite altcoins that can withstand market cycles.
Third, do not focus on short-term fluctuations to look at long-term trends. Staring at the 5-minute and 15-minute charts every day will only ruin your emotions. Pull back to the daily and weekly charts and ask yourself, is this position driven by greed or fear?
Fourth, accept your imperfect self, accept the setbacks. The major turning points that can truly change your life never occur at your most anxious moments; it is better to get on the bus a little later and earn 10% less than to go all in too early. A subsequent drop and a bearish candle could sweep you out of the game.
The next few months will make everyone go through the most painful and difficult days. The market is unpredictable and lacks direction. Write a note and stick it on your desk: do not chase after a 30% rise in a clone stock, do not blindly open positions and hold them. If you incur losses on three consecutive trades in one day, pause trading for 48 hours. This is not mysticism; it is the basic condition for your survival.
Most people cannot change their fate, not because they cannot accomplish great things, but because they cannot endure these 'small matters'.
If you can persist in these ordinary matters and turn them into habits, fate will naturally start to improve for you.
