13 Golden Rules for Crypto Money Players to Know
1- Never Win Win Status None.
Imagine a seesaw in the schoolyard. Two children swing up and down. There are two situations that arise here. Either a child or the other will surely come down. Or try to balance the seesaw by applying too much pressure to keep them in the middle. That’s how crypto money trading works. Sometimes nothing happens and sometimes we try to stabilize in a market that is under a lot of pressure. However, each time an investor makes a profit, another investor loses. Money changes hands this way. The seesaw does not stabilize on both sides. A simple question: Why do you think you are better than other players?
2 – Trade Wars
There is a term used in ancient wars S Mist of War. General The general of the army could not see the battlefield because of smoke from firearms, but could see only what was in front of him. So as far as he could see, he would have to decide with incomplete information. This is the same in trade. Everything is not seen clearly and there are missing or incorrect information. Some players are always on the wrong side of asymmetry. There are powerful elements called whales. They have a lot of money that can strongly affect the trade. They know best and only when to trade. For example, if a real or fraudulent message redirects the price, we will usually find it too late. Winners during trade are those who have important information before others.
3 – 50 Plus 1
Take the seesaw once again. There are two situations that can occur during trading: up or down. It’s a 50-50 thing. For example, if we allow a monkey to trade, the probability of this transaction being accurate is exactly 50%. No one always gets 100% results. However, there is no system that can accurately predict an irrational and repeatedly manipulated market. The goal of each investor is to make at least 51% of its transactions accurate. Each player needs a frustration tolerance to lose money in 49 out of 100 transactions.
4 – Prejudice
No matter how mathematical the system, our belief in magic and hope is always on our way. For example, a subcoin is currently pumping and reaches a dizzying height. We already know it’s usually too late to get in, but we’re still doing FOMO for lack of and fear of being late. Or in places where we do not see various formations, price movements, and under the influence of FOMO’s already take out that sub-coin. There is a separate field of research in psychology for this; Prejudice. No one is always rational. It is a mistake to believe that we act rationally in the market.
5 – You’re the Fault!
The market is always right. If the market doesn’t behave the way you think, it’s you who’s wrong. It’s always gonna be like this. The market will not be shaped as you wish. You know, they always say, “I sold it and then the price jumped.” No, the market doesn’t even know you exist. You sold it at the wrong time!
6 – Beginners Lose Transactions.
They always start processing with a lot of money.
In particular, they do not know the Basic and Technical Analysis. In this case, it is no different to them than a lottery.
They do not close their open positions for too long. They always wait with hope.
They don’t know profit realization. They never want to withdraw their winnings and think that they will earn more with more money.
They operate very often. Therefore, they have a process board full of meaningless and mediocre transactions.
7 – Knowing What You Invest.
You need to investigate it in detail before getting a crypto deposit. What’s the point of exit? What are their technological infrastructure? Who’s the team behind it? How’s the roadmap? What are the international agreements they made or are planning to do?
Just researching them will keep you away from shitcoins.
8 – “X” Factor Between Crypto Markets and Other Markets.
The crypto market is like a 24/7 open monopoly shop. It always allows you to buy and sell things. He doesn’t sleep and controls you. But the stock market is open at certain hours on certain days of the week. You can control it when you want. In addition, there is no x factor in the stock market. For example, the decline in the stock market may take a week or several months. However, in the crypto market, the x factor can let the week go in and change the trend in a matter of hours.
9 – Traditional Media Responds To Crypto Late.
Those who follow the traditional media and try to trade crypto, and those who try to shape the basic analysis with the traditional media, always come from behind. For example, if an article you read in traditional media says Bitcoin has dropped by 20%, the situation may have already changed until the article is published. Traditional media is too slow for the crypto market. The site where you read this article, which gives instant response to the crypto market, where the current news is published very quickly, will be very useful.
10 – Information is More Valuable in the Crypto Market.
Unlawful actions such as leakage of insider information in the stock market or similar markets do not take place easily because they are punishable and followed closely. However, the fact that the crypto money market is decentralized and unregulated facilitates details such as leakage of information. In this case you need to know what you are doing to make more profitable transactions. You have to know what you’re doing. Those who have knowledge of the crypto market always win.
11 – Experience!
The only and best way to increase your chances of winning will be the real experience of trading. You cannot provide this experience by reading books or watching videos. Only real money trading will bring you experience, insight and success. Demo accounts opened especially for leveraged transactions should only be used to understand the functioning of the stock exchange.
12 – Give Technical Analysis the Value it Deserves!
Moving Averages, Bollinger Bands, RSI, Macd, Candlesticks, Channels, Trend Lines, Bear / Bull Flags, Triangles, Wedges etc. etc. You can use all the tools in the technical analysis in daily, hourly or even 5 minute timeframes. But remember, the shorter the time frame, the greater the margin of error. Don’t try to look for things you can’t see on the chart for hours. Technical analysis is ungrateful, and if something is quickly forgotten or not used sufficiently, its interpretation is erroneous. Don’t forget to give the technical analysis its worth and time.
13 – Feelings Friend or Enemy?
As a human being, we are natural and in fact weaknesses when the emotions are positive when gained or become negative when lost. In the crypto market, most of the transactions are done by bots. So we’re actually in a trade war against robots. We are unlikely to win this war. Because robots don’t have feelings! When they win, they don’t fly away from happiness or when they lose, they don’t fall into pessimism. They’re just doing what they’re told. So you need to learn to control your emotions and to manage them correctly.
You have to know to be humble when you win, to step aside when you lose. Try to leave emotions in front of the door as you start trading. When the trade is over, you can pick them up again.