I've traded cryptocurrencies for 10 years, losing money for the first 3 and profiting for the last 7. Here are 6 invaluable lessons I've learned:
1. Trade strong currencies: Use the 60-day moving average as your guide. Enter when the price is above and stable, exit if it falls below.
2. Avoid continuous gains over 50%: High gains can be risky. Lower positions have better cost performance and control risk.
3. Watch for signs of a rise: Look for small fluctuations (-10% to 20%) before a major increase. Participate in batches when prices are low.
4. Capitalize on new trends: New market trends often have 3-5 days of growth. Understanding this can help you catch the main market force.
5. Stay cautious in bear markets: Keep positions empty for at least half a year. Reduce operations when the market is down.
6. Review weekly: Focus on evaluating your methods, not just profits or losses. Correct mistakes promptly to develop your strategy.
Success requires preparation. No matter the market, I’m with you!
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