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I only know the basic rules of Texas Hold'em and don't play often. However, I feel that the strategies and mindset for playing Texas Hold'em are quite similar to Cryptocurrency Trading, such as Risk Management, psychological expectations, and overall Position gains and losses.
Good Risk Management:
In Texas Hold'em, ordinary players do not calculate probabilities; they only consider their own cards and their opponents' cards to decide whether to raise or fold. If they have a strong hand, they need to make a heavy bet, but mismanagement of chips can lead to total loss. Cryptocurrency trading is similar; currently, the issuance of new assets in the industry is accelerating. If one does not fully understand a project or has a heavy position, just one mistake can lead to an ordinary person's exit from the market. Everyone is eager to get rich quickly, and when you see how short users' lifecycles are, you will realize: compared to a single all-in, it’s better to diversify funds, develop cautiously, and avoid the emotional "all-in."
Psychological Expectations:
Playing Texas, the price of everyone's first 3 cards is the cheapest, and the larger your hand is expected, the stronger the resistance your opponent will give you, and the more expensive it will be to buy cards. Speculating on coins is also the cheapest to get chips when the market is in a downturn, but at this time, various fud emotions in the market will interfere with your decision-making, you judge according to the market cycle, basic disk, and dealer trading style, buy and leave, when the market rises, everyone expects and sells when the good is released, not confused by the short-term rise, and pursues the return ratio under the calm assessment.
Overall Position Profit and Loss:
In Texas Hold'em, the focus is on long-term win rates, not just the outcome of a single hand. The same goes for Cryptocurrency Trading; you need to pay attention to your overall performance.
The profit and loss of the position depends on choosing quality projects and entry opportunities. Yesterday, I mentioned that the small and big blinds are just trading wear and tear, which is normal. However, what needs attention is whether your plan and strategy respect your own discipline. With clear discipline, even if you miss out, you won't regret it, because missing one or two quality projects also helps you avoid falling into pitfalls.
Adapt to uncertainty; even the best hand in Texas Hold'em can lose unexpectedly due to community cards and opponents. In the cryptocurrency world, there are even more black swan events: policies, technology, market sentiment, and hackers can all trigger volatility. Accept these uncertainties and be prepared to respond when they occur.
Continuously review your trading strategies, keep the effective ways to make money, and eliminate the losing strategies. When you start to patiently put in the effort to learn, you will definitely achieve great results.