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I have been Cryptocurrency Trading for seven or eight years, and I have been doing relatively well in the crypto world. Here, I have summarized the disciplines and experiences of early Cryptocurrency Trading, hoping it will be helpful to everyone.
1. Actually, the mentality of Cryptocurrency Trading is the most important. Many people know it's not a good time to buy, but they can't resist the urge. This is a mentality problem. Without solving it, any theory is useless.
2. Keep a stable mentality, do not have emotions towards any currency or price, just follow the market signals. You should have emotions towards entry and exit points. With good skills and a large capital, for example, if you can trade every 30 minutes, there is no such thing as being late at any time.
3. The reason for the mistake is never related to the market. When looking for reasons, you can only find your own reasons. Every mistake should be summarized immediately.
4. The mentality of wanting to make money quickly is a big taboo for participants in Cryptocurrency Speculation. They can't even control their own desires and greed, so they cannot succeed in the market for long. In both long and short positions, when holding coins, the thinking is controlled by the bulls. Conversely, it becomes a slave to the bears. And the market sentiment is accumulated and guided by this. Those who can't break free from this state will never become true market participants.
5. Cryptocurrency Speculation tests long-term profitability, not just the ability to burst once, the key is a long-term effective trading strategy. When buying, you need to consider all kinds of situations. ◇ You must be resolute in holding, and even more resolute in selling, in order to gradually improve. It's your Cryptocurrency Speculation, not the cryptocurrency trading that's speculating on you. Start with yourself first.
6. The cryptocurrency market will only reward the patient; any good coin needs to be nurtured. Those who change coins every day will definitely only have small capital and small gains. Be more focused, running around every day will definitely not earn big money.
7. Dance to the rhythm of the market, as long as you follow the rhythm of the market, you can move gracefully on the edge of the knife. The rhythm is always the rhythm of the market. A market participant without a sense of rhythm will always suffer. Set aside your greed and fear and listen to the rhythm of the market. As long as you can follow the rhythm, no one can stop you. The market has a rhythm. If you grasp the current rhythm, no one can defeat you.
8. Remember the power of compound interest for those who play with capital. As long as you have a good mindset and technique, compound interest is inevitable, which can overcome everything!