After nine years in the cryptocurrency space, the most difficult time was when I sold my house and rented, borrowing money just to survive. Later, I was able to turn it into a million. It's not because I'm so skilled; it's because I've learned a few things through repeated lessons from the market. $pippin
First, let's look at a key signal:
When the market crashes, some coins don't drop much. This is not a coincidence; someone is supporting them. Don't just throw them away; they often have potential.
Don't complicate your operations.
For short-term trading, focus on small cycles and daily charts. If it holds, keep it; if it breaks, sell. For medium-term trades, only follow the trend; don't rely on a bunch of indicators.
If a short-term trade doesn't move for three days, it's basically a wrong judgment.
Accept a loss of 5% and exit; dragging it out will only turn a small mistake into a big pit.
The real opportunities are actually in the coins that have been oversold.
When a coin is hammered down from its peak, continuously dropping for several days, and the sentiment is completely crushed, the rebound often comes when people hesitate.
Always keep an eye on the leading coins.
The ones that rise the most and are the most resilient in downturns are these. Don’t be afraid of their price; what you should fear is catching a falling knife that nobody wants.
Stop always thinking about bottom fishing.
Coins in a downtrend have no bottom; if the trend is wrong, cheap means a trap.
If you've made money before, be even more cautious.
Making money once doesn't prove your ability; whether you can repeat it is the line between life and death.
If you’re not confident, stay in cash.
Being in cash is not shameful; losing money is what’s shameful.
New coins rely on sentiment in the early stages; they drop even faster when the tide goes out, so don’t fall in love with them.
At the end of the day, the cryptocurrency space is a game of consensus, but consensus can dissipate, and there’s not much capital left.
Survive, and opportunities will naturally come.