The secret of Cryptocurrency Trading is not in technology, the technique only accounts for 20%, and the other 80% is the spiritual level, summing up the five major experiences! It's worth collecting!
One: let go of emotional obsession and respect the market.
Trading starts with your entry decision and ends with your exit decision, don't expect this or that in trading. What you are looking for is to be thoughtful about the facts, not to chase after the wind, to form your own set of trading decision-making system, to have a pair of eyes to see the market. It is necessary to have a certain insight into the market, and it is best to have a certain forward-looking. Don't believe your inner thoughts when trading, follow the system, eliminate external interference, in short, respect the market, believe in the system, and believe in yourself. As a result, trading will become natural, making you feel relaxed and even enjoy trading.
Two: make fewer assumptions, clarify the stop loss, try to effectively protect the principal, try and error to find the general trend, and strive for big profits and small losses.
As a trader, what we can do is that the system tells us to place an order without hesitation when we reach the position of entering the market, we can't predict whether the market will pump or fall in the future, whether it is Bull Market or Bear Market, after placing an order, we can only control our losses long less, and we can't control how far the market can long go. Therefore, after Build a Position, if you first do a trailing stop loss, try to hold the order and wait patiently for the exit signal. And once we come out of the field, wait patiently for the next entry signal, repeat the cycle, and repeat the simple things to the extreme, we can have a successful and brilliant life.
Three: risk first, opportunity second, live long to earn long.
Profit is the product of risk rather than the product of desire, risk is always the first, can be controlled and avoided but can not escape, because any profit is to take a certain risk to obtain the return, as long as the trading ideas are correct, we should take the risk we take calmly. Correct analysis and prediction is only the first step of successful investment, the basis of successful investment requires strict risk management (Position management and stop loss management), rigorous self-psychological and emotional control (pampering is not shocked, the shock remains unchanged) Trading can only increase the thickness of perception through various tortures. The process of trading is just like the process of a butterfly breaking out of its cocoon, and in the painful struggle, the will is tempered, the strength is strengthened, the mind is improved, and the life is sublimated in the pain.
Four: The crypto world is the art of regret, and only by accepting regret can we have perfection.
Trading is flawed, don't always think about buying at the lowest point and selling at the highest point. If you can get your part of the profit in each wave of the market, the transaction will be successful. Understanding this part, the impact of random Fluctuation in the market on you will become very small, you can focus on your profit part, do not have to pay attention to those opportunities that are beneficial to you, but can not grasp, so that the order will be more decisive.
The market is fair, even if someone really gets a more long profit than you, then, the risk they buy the dips short at the highest price face is bound to be greater than you are very long, and the head and tail of the fish are the most expensive!
Five: The experience behind success is loneliness, and there is no prosperity with everyone!
Every good trader is destined to be alone. His trading system is an understanding of trading and the market, a comprehensive embodiment of his own understanding, and also a reflection of ideas, beliefs, philosophies and character. There are no identical leaves in the world, and there are no traders with the same personality, cognition and knowledge, so the owner of every successful trading system is destined to be unique. You can learn his essence, but you can't simply repeat and imitate it. There is no ultimate trick in this market, only the eternal existence of human greed and fear.
Summary: Trading is not a science, but a mechanical craft, as long as long-term repeated practice, practice makes perfect, you can profit from the market, this is a real action first, practice first art. In order to succeed, speculators must become not only giants of thought and knowledge, but also giants of action. Skills and knowledge can be learned, market experience can be accumulated, and it is more important for speculators to cultivate a mature psychology and be able to act quickly, which is a long-term and long process of cultivation and pursuit of comprehension.