In the ninth year of trading cryptocurrencies, I am 34 this year.
To be honest, my current living situation is okay; staying in hotels basically starts at two thousand. I'm not bragging, just comparing to my peers who are still grinding in factories and e-commerce, it's definitely much easier.
I realized early on that relying on a fixed salary makes it hard to truly turn things around. So back then, I decided to go all in on trading. The cost was not small; I have experienced losses, liquidations, and endured hardships, and only slowly built up this bit of confidence today.
I have seen bull markets and bear markets, and I am used to big rises and falls. Being able to stay at the table is never about how skilled you are technically, but rather about knowing when to dodge and when it's worth taking action.
For instance, in those situations where prices rise quickly but retrace slowly, it's basically best not to chase; most of the time, it's just accumulating positions, slowly setting a trap for you.
Conversely, after a crash, don't rush to buy into weak rebounds; many are just false moves before a high-position sell-off.
Many people panic when they see high-volume at peaks, but it doesn't necessarily mean it's the top; however, if the price is already very high and the trading volume clearly cannot keep up, that's a truly dangerous signal. Not exiting can easily lead to being the one left holding the bag.
Again, don't rush when there's volume at the bottom; many are just baiting. The ones to really consider entering are those with several days of volume and prices that can hold steady without turning back.
Ultimately, trading cryptocurrencies is all about trading emotions. The direction of the market is dictated by emotions; and emotions are often hidden within the trading volume.
When you want to jump in the most, it's often when others are preparing to exit; when you are most fearful, most of the chips have likely already been taken away by others.
The market repeatedly harvests from just a few types of people. Those who get liquidated may not be unwise; they just can't control their hands. Those who wish to become rich overnight will generally be educated by the market.
I don't think I'm particularly impressive, but over the years, I have been constantly adjusting, reviewing, and correcting. The ability to make money comes from summarizing after stepping into pitfalls, not luck, and certainly not from signal groups.
Now it's more about using systems and data to run strategies, following the rhythm to make trades.
The cryptocurrency world has never lacked opportunities; what is truly scarce is that batch of people who can understand opportunities and can also maintain their positions.