Seven Truths for Making Money in the Cryptocurrency World
1. Don't Dream Small: Want to turn 30,000 to 50,000 into a fortune? Just wait for those two significant surges, eat, and run. If you keep messing around in there, you won't make any money, and the fees will be enough for you to drink a pot.
2. Good News is the Death Knell: When huge good news comes out, running that day makes you a master, and running high the next day makes you a smart person. Wait longer? You will be the brave one carrying a torch through a powder magazine.
3. Holidays are like Disasters: Whenever there's big news or a long holiday, reduce your holdings in advance. You are here to make money, not to gamble with national fortune. After the storm passes and the situation is clear, following along for a sip is more stable than anything.
4. Long Positions Must Be Held: If you want to take a long position, use money you can afford to lose and enter with a light position. If you go all-in from the start, one deep squat will blow your mindset, and you'll cut losses at the floor.
5. Short Positions are Assassins: Playing short positions requires a deadly strike; if you can't stab, then dodge. When you see an opportunity, take a bite, and if it feels wrong, spit it out immediately. Greed? Greedy people end up standing guard at the peak.
6. Stop Loss is Life-Saving: If you're wrong about the direction, admit it and cut quickly. Don't fall in love with the market, and don't expect it to change its mind. A stop loss is tearing up a bad ticket, not amputation.
7. Mindset is Ancestors: Don't think you're a genius when it goes up, and don't curse and call it a scam when it goes down. The market specializes in treating various discontents; staying numb may allow you to live longer than staying excited.
Summary: Use the discipline of running takeout to wait for the chance of winning the lottery. Don't mistake luck for strength; the cryptocurrency world can teach you how to be a person, not a ghost.