I've been in the crypto world for ten years. Over the years, I have encountered pitfalls and suffered losses, ultimately summarizing eight survival rules. Before every time I enter a position, I silently recite them; to be honest, relying on these has helped me avoid several rounds of big dump.
**First Rule**: Don't just stare at the daily candlestick chart and rush in, especially when trading short-term. The 30-minute chart must be observed in conjunction, and the overall market needs to be stable before taking action. One time I saw a long upper shadow and thought it was over, but the next day it shot up explosively. Later, when reviewing the 30-minute chart, I realized—the details are hidden in the smaller time frames.
**Article 2**: If the trend is wrong and the rhythm is chaotic, don't even look at it. Going with the trend is the way to go; once the rising rhythm is disrupted, there is a 90% chance it will cool down.
**Article 3**: Short-term trading must revolve around hot topics; do not touch any coins that are not in the limelight.
**Article 4**: Impulse is the devil. Plan first, then trade; don't do it the other way around.
**Article 5**: It's good to listen to others' opinions, but in the end, you still need to think for yourself and analyze. Following the trend is the fastest way to fail.
**Article 6**: First determine the general direction, then choose specific coins. If the direction is correct, it will be twice as effective; if it’s wrong, you will just be going in circles.
**Article 7**: Buy coins that are rising, and don't try to guess the bottom. The belief that "it will rebound soon" is a common issue among retail investors, and what often follows is a sharper decline. Prices always move towards areas of less resistance, and following this logic is always correct.
**Article 8**: After a big gain or a big loss, first clear your position and calm down. Think clearly about why you made money and why you lost before taking action again. Over the years, I have found that the success rate of doing this can reach over 90%.
It's too hard to fight alone in this market; sometimes direction is more important than effort.
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I've been in the crypto world for ten years. Over the years, I have encountered pitfalls and suffered losses, ultimately summarizing eight survival rules. Before every time I enter a position, I silently recite them; to be honest, relying on these has helped me avoid several rounds of big dump.
**First Rule**: Don't just stare at the daily candlestick chart and rush in, especially when trading short-term. The 30-minute chart must be observed in conjunction, and the overall market needs to be stable before taking action. One time I saw a long upper shadow and thought it was over, but the next day it shot up explosively. Later, when reviewing the 30-minute chart, I realized—the details are hidden in the smaller time frames.
**Article 2**: If the trend is wrong and the rhythm is chaotic, don't even look at it. Going with the trend is the way to go; once the rising rhythm is disrupted, there is a 90% chance it will cool down.
**Article 3**: Short-term trading must revolve around hot topics; do not touch any coins that are not in the limelight.
**Article 4**: Impulse is the devil. Plan first, then trade; don't do it the other way around.
**Article 5**: It's good to listen to others' opinions, but in the end, you still need to think for yourself and analyze. Following the trend is the fastest way to fail.
**Article 6**: First determine the general direction, then choose specific coins. If the direction is correct, it will be twice as effective; if it’s wrong, you will just be going in circles.
**Article 7**: Buy coins that are rising, and don't try to guess the bottom. The belief that "it will rebound soon" is a common issue among retail investors, and what often follows is a sharper decline. Prices always move towards areas of less resistance, and following this logic is always correct.
**Article 8**: After a big gain or a big loss, first clear your position and calm down. Think clearly about why you made money and why you lost before taking action again. Over the years, I have found that the success rate of doing this can reach over 90%.
It's too hard to fight alone in this market; sometimes direction is more important than effort.