Written by: 0XKYLE

Compiled by: Xiaobai Navigation coderworld

This article mainly introduces the author'scryptocurrencyUp to 50 lessons learned from the market. We hope that these lessons can help readers in the bull market in 2024.

Before explaining the 50 lessons in detail, the author first explains a point that he most agrees with:To get rid ofBear Marketmode, and forBull MarketLeave room for new investment models.

He believescryptocurrencyBull markets are highly reflexive and although the market seems to have been volatile recently, don’t actively wait for a pullback to buy in, but there is not much point in trying to time the top. Although the author is a bull in the market, he has made this mistake in the past few weeks.

Below, the author introduces in detail the author's 2023cryptocurrencyThe lessons learned from the world. These lessons are not only about trading, but also about the unity of knowledge and action in life.

trade

1. Patience is a stance

2. Don't trade your profits and losses

3. Longs continue to go long, while shorts reduce their positions. In an attention-driven market, assets that attract capital attention are a sign of strength and have a strong reflexivity. On the contrary, assets that perform poorly receive less attention and are likely to remain so, resulting in weaker gains.

4. View alt/BTC and alt/ETH charts in technical analysis

5. Trading should be process driven - write down the steps to be taken and repeat them

6. Often, your life is guided by your emotions.Trading is the opposite. You can’t follow your emotions., such as cutting positions “because you feel bad” or adding to positions “because you feel good”

7. Most of your profits will come from a few good trades a month/year, but you have to watch the market long enough to catch those opportunities. You can't just walk away now and expect to come back and make a great trade.

8. Slow and steady - don't rush, there will be opportunities tomorrow and the year after next

9. To be good at applying the framework I often use in cryptocurrency trading,This was mentioned in the previous article.

10. In a bear market, focus on revenue and users, because valuations return to normal levels, and important indicators are based on fundamentals.

11. Bull markets focus on growth and speculation because the important indicators are more reflexive, such as narrative/founders/flywheel

12. Focus on transactions

13. Checking the price of a long-term position every day may seem insignificant, but it is actually a bad practice that exposes you to the daily fluctuations of the market and causes you to subconsciously re-evaluate your investments.

14. Your trading edge is closely tied to your personality and what you want to achieve in life. Get to know yourself and find out what type of trader you are.

15. When you know what type of trader you are, don’t try to get better in other areas. Instead, keep honing your style. You don’t see Warren Buffet trying to get better at algorithmic trading.

16. Don’t trade out of boredom, the impact is huge

17. Use leverage to go long when the crowd is fearful, hold spot long when the crowd is levered long, and exit the market when the crowd is euphoric

18. In a bull market, you think about "the more money you make, the better", but you should think about "the less money you lose, the better", because the market will do a lot for you.

19. Trading and investing are constantly evolving - that coin you were long an hour ago is not the same coin now; that’s why you have to constantly plan different scenarios and plans

20. Your portfolio is a battleship - determine the trend, take a core position; adjust accordingly based on sea conditions; if volatile: allocate to flexible positions. Changing major positions takes too much time and money

21. You have to have a selling process because your emotions won’t do it.

22. Price targets are terrible for exit points because they can be arbitrary - SOL at 60? 80? 120? 150? You can’t tell when to sell based on price.

On-chain

23. Always test your trades

24. For emerging projects, you need to focus on people - they control all the attention in the market. Active teams and strong founders mean storytellers who can tell stories, which means more market attention.

25. Crypto Twitter is always late to the market, and when you see the entire Twitter thread promoting something, most of the time it’s unwise to follow along.

26. Crypto Twitter is also very toxic and time-consuming, try to minimize exposure, and use tweetdeck only for research

27. In a bear market, you should have negative expectations for everything because many projects will not survive. But in a bull market, you must have a positive attitude because they will bring greater profits.

28. Never chase beta (second-best option), it is better to go long on the leader

29. Narrative rotation is a game of short-term overperformance and long-term underperformance

30. Position is very important. If the altcoin you hold increases by 10 times, and your position is only 0.1%; on the contrary, if the large position increases by 2 times, even if your position is only 50%, you will earn more than the altcoin.

31. addXiaobai NavigationCryptocurrencies can easily distract investors. Teams that know how to announce events and milestones are strategic enablers that you should always bet on because it means strongerToken

32. For low market cap altcoins, you always want to exit when the attention drops

33. The trap most people fall into with small/mid-cap stocks is that once the project cools down, they convince themselves that they are investing for the long term and expect the market cap of the project to continue to rise. I hope you don’t fool yourself.

psychology

34. Don't be jealous of others, use them as your inspiration. You can't spend other people's money, and they can't spend yours. The only standard is yourself

35. FOMO is an emotion killer. When you feel FOMO, deal with it

36. Laziness is the original sin, and it greatly affects your investment (laziness in doing research/trying new protocols/thinking deeply)

37. The four main things every great trader must recognize and overcome are: making mistakes, losing money, FOMO, and stayingmake moneyOpportunities

38. The fear of being wrong is ego-heal it and realize that there is more to your life than just trading. You are wrong so what? It is not everything to you, you have friends and family who don’t even care if you make a wrong trade.

39. The fear of losing money comes from not fully accepting the risk and accepting that the market has uncertain outcomes.

40. It is impossible to avoid losses. Losses in trading are like a restaurant spending revenue on vegetables; they are the cost of doing business and are not important at all.

41. If you can’t suppress your emotions, learn to manage them and use them to your advantage. When you’re excited, use it as a sell indicator (and vice versa)

42. Stop trying to impose your will on the market and stop expecting anything from it.

Life Advice

43. Never say no, but rarely say yes. If you say yes, it has to be something that moves you forward, or something that adds value.

44. Consistent “okay” is much better than occasional “awesome”, and most work is just showing up every day, even if you haven’t done much work

45. It is the pursuit of a goal, not the goal itself, that leads you to happiness. As they say, "If you are in the process, then you have already achieved it"

46. Fear is in your mind. Why aren't children afraid of insects or the things we fear? The answer is: we are born clean but are taught to be afraid of certain things. And vice versa - we can be taught not to be afraid of these things. It's all a matter of perspective.

47. Don’t compare yourself to others, instead of comparing yourself to others, figure out if you actually enjoy what you are doing or if you are just doing it for the social status (prestigious job etc)

48. Studies have shown that socializing with others is associated with happiness.

49. There’s no such thing as you suddenly waking up one day and feeling motivated to do X. Now is the best time to do the thing you’re afraid of.

50. Life is simple, but not easy.

I hope the above lessons can bring some help to your investment transactions and life in 2024.

The article comes from the Internet:50 Crypto Market Investment Experiences: In Bear Markets, Focus on Revenue and Users; In Bull Markets, Focus on Growth and Speculation

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