I know a fifty-year-old brother who has been in the cryptocurrency industry for ten years. Over these ten years, he hasn't chased hot trends, mingled with circles, or believed in so-called insider information.
Starting with only 80,000, he has stubbornly rolled his assets from 80,000 to eight houses using the slowest and dumbest methods.
Now he owns four houses, lives in one, honors his in-laws with one, and supports two twenty-year-old lovers. His life is low-key but steady and stable.
You might think that this kind of person must have some extraordinary trading skills. But he told me that surviving is not about skills but about a few anti-human principles, which are more important than any indicators.
Each principle deeply resonates with the mindset of retail investors in the cryptocurrency market; if you want to survive, you need to learn these:
1️⃣ A stable trend outweighs a sharp rise.
The bull market in cryptocurrency can be disorienting, but a healthy market rises slowly and steadily. When the market is volatile, those who get washed out will never reach the finish line.
2️⃣ Exit when the support level is broken.
Once the support level is broken and cannot quickly rebound, you must decisively exit. When the market gives you hope, it is often the beginning of a continued decline.
3️⃣ Never go all in.
Going all in sounds great, but in reality, it's gambling. Diversifying your funds across 3-5 projects you understand is the way to survive long-term.
4️⃣ Look at larger time frames, ignore short-term fluctuations.
Short-term fluctuations only create emotions; focus more on daily and weekly charts to avoid being washed out by short-term movements.
5️⃣ The toughest times present the best opportunities.
The market's downturn is the best time to enter; when good news is everywhere, risks are actually accumulating.
6️⃣ Stability is king.
Top players in the cryptocurrency market rely not only on intelligence but also on ten years of consistent operations. Maintaining your mindset and holding your positions allows you to wait for your wave in the market.
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