Let's briefly talk about how an ordinary retail investor can survive in the cryptocurrency market.
First, the first rule is position management. You should never go all in at any time, or say how much money to put in the market and how much to keep out. Treat the money in the market as if it could go to zero. I personally have tens of thousands in my account for trading (which is just an ordinary person), (the key is still to control oneself). Every time I open a position, I must do it gradually. I prefer to use five percent of my position and open with 28 times leverage (this is crucial; always avoid going all in).
The second rule is emotional control. You must only open a position when your emotions are stable. Opening a position when you are feeling bad results in a 99% chance of loss. After taking two losses, you definitely shouldn't open any positions for the rest of the day.
The third rule is market analysis, which requires you to have your own judgment of the market. This definitely requires learning some basic technical indicators. You should only open positions when the market reaches specific levels; 99% of the time should be spent waiting and 1% of the time opening positions.
At that time, we made money, but it was also due to timing and luck. Currently, this market is probably the hardest to play. New retail investors have all been wiped out, and those remaining are either the oldest batch of inexperienced investors or the most experienced operators. Therefore, the current market is about surviving, preserving your capital. The opportunities in the financial market are definitely limitless. Finally, I wish everyone a safe journey.
