Not long ago, my cousin from my hometown came to me in tears, saying that his foreign trade business in Shenzhen had been plagued by the pandemic, with warehouses full of goods and clients owing him money. He couldn't sleep at night and, hearing that 'the crypto world could turn things around,' he wanted to dive in headfirst, shouting that 'he wanted to change his fate.'
I looked at his red eyes and almost laughed out loud; wasn't this just me 8 years ago!
At the age of 25, I ventured into the crypto world with 30,000 yuan I saved from working part-time, without any resources or background, relying solely on a strong will to not give up. Who could have imagined that 8 years later, in 2023-2024, it would become the year my life turned around, with my account balance jumping to 8 digits for the first time!
Compared to my cousin who worries about the supply chain every day at the factory and my cousin who struggles with clients for payment in e-commerce, my life feels like I've activated cheats: I don't have to serve the party A, deal with industrial and commercial tax issues, or even wake up early to punch in; I just watch the market while sipping tea as money follows the market trends.
People around me keep asking for secrets, but is there really a shortcut to 'get rich overnight'? In my view as someone who has been through the grind for 8 years: mindset is the anchor, and skills are just the icing on the cake! Today, I will share 3 'life-saving principles'; those who understand can at least avoid three years of detours in the crypto circle.
Mind principle one: anchor on the 'market ballast stone', don't go against the trend.
In the crypto circle, the position of the mainstream coin boss can never be shaken! It is like the 'barometer' of the entire market: when the boss rises, the little brothers have the opportunity to follow and benefit; when the boss falls, even the strongest small coins have to lie down and play dead.
Occasionally, the second mainstream currency can show independent trends, but don't be naive to think that small cryptocurrencies can soar against the trend! I've seen too many newbies trying to bottom fish small coins when the big boss is correcting, only to be dragged down and stuck, crying while cutting losses to leave the market. Remember: follow the big boss, and you won't worry about profits; trading without the big boss will eventually bury you!
Mind principle two: the 'seesaw rule' between stablecoins and mainstream coins, understand this to avoid 90% of the pitfalls.
The relationship between stablecoins and mainstream coins is like kindergarten kids playing on a seesaw: when one side goes up, the other side must go down.
Stablecoins quietly rise in price? That indicates that funds are 'playing hide and seek'; everyone is withdrawing to avoid risks, at this time the mainstream coins need to be cautious about a correction, quickly reduce positions to secure profits is more prudent; if mainstream coins rise excessively, pulling out large positive candles for several days, don't be greedy! Quickly exchange some stablecoins to hold, securing profits is better than anything.
In 2022, I relied on this trick to switch to stablecoins before the market crash, not only did I not lose, but I also preserved the 70% I had earned before; otherwise, I might still be in debt now!
Mind principle three: the 'golden rule' of trading time periods, grasping the rhythm allows you to pick up bargains.
The crypto circle is trading 24 hours a day, but not every time is worth watching; grasp the timing pattern, and you can pick up opportunities even while lying down.
From 0-1 AM: this is the time when the market is most 'emotional', sudden fluctuations can easily occur (those who understand know), place a range order before going to bed, and you might wake up to unexpected surprises the next day.
From 6-8 AM: this is the 'traffic light' for the day's trends; if the mainstream coins stabilize at key price points during this time, the day is likely to see a volatile upward trend; if there is a direct plunge, you need to be cautious about a correction.
After 5 PM: overseas funds start to enter the market, which can easily trigger large fluctuations; at this time, don't blindly open positions, wait for the trend to clarify before taking action.
As for the so-called 'Black Friday', it's purely hype! It really depends on whether there is sudden news; rather than believing in dates, it's better to pay more attention to news and technical patterns.
The crypto circle is not a 'money-picking place', it's a 'battlefield'! Those 'air coins' with no liquidity and no real projects, don't even touch them! The ones that can withstand downturns and have a high probability of recovery are quality projects with real applications and stable trading volumes.
If you also want to avoid pitfalls and make more money in the crypto circle, follow Mr. Ke! He will help you avoid traps and steadily grasp the wealth code in the crypto circle!
Have you encountered any trading difficulties recently? Or do you want to learn about any specific knowledge points?
