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In Cryptocurrency Trading over the past few years, I have concluded that the difference between experts and suckers lies in a few very simple principles.
First, do not borrow money to trade, do not take out loans to trade, Cryptocurrency Trading is not gambling, and it is definitely not about overdrawing the future. Use spare money to play, and you will have a stable mindset.
Secondly, I never engage in short-term trading; it is meaningless to watch the market every day. True experts would rather stay in cash and wait for opportunities than engage in reckless trading. If the opportunity doesn't arise, they won't take action.
Third, don't be superstitious about technical indicators; those things are often drawn for you by the big players. Just get a general sense of the trend and don't fall into the trap of details.
Fourth, never touch garbage and obscure altcoins; no matter how cheap, they are traps. It is better to heavily invest in leaders than to touch air.
Fifth, no matter how good the coin is, I won't enter the market unless it has been halved. Only during times of panic is the opportunity a real opportunity. Once a bull market ends? Just go empty-handed, without dragging your feet.
Many people like to spread their investments across more than a dozen coins, making themselves look like fund managers, but as a result, their accounts are green every day. I never do that; with a capital of 100,000, I focus on at most two coins and go heavy once I’ve zeroed in. After entering the market, I don’t constantly check the market, don’t care about so-called indicators, don’t look at anything, just wait in ambush. I wait until it doubles at least before making a move.
The most important point: Stop-loss and take-profit must be decisive, never hesitate.
People who drag their feet will never make big money.
So, expert cryptocurrency traders appear to be inactive, but when they do act, it's a decisive blow. Suckers in cryptocurrency trading are constantly fidgeting, can't sleep, get greedy when they make a little profit, and panic when they incur a loss. The difference lies here.
Most people engaged in Cryptocurrency Trading end up as cautionary tales. If you don't want to become a "sucker's textbook," then don't get lost.