No one can predict the market ten years from now, but how much was Bitcoin priced ten years ago? How many people can hold on from then until now? To make money in this market again, the first step is to improve your own understanding. Any investment skills and technical analysis ultimately depend on the investor's decision-making, which leads to the investment outcomes.
Looking back at my journey in the cryptocurrency world has been quite tumultuous. From initially entering the market with 8,000 yuan, to riding the bull market and making tens of millions; then from being a millionaire to becoming a debtor of 8 million due to contract liquidation; and then making a comeback with 200,000 to increase my assets to 20 million; then seeing that 20 million shrink to the current 6 small suns (which represents a certain unit of virtual currency); and now, I am waiting for the next bull market to arrive, aiming to reach 10 small suns.
My trading method is not complicated but exceptionally practical. In just one year, I managed to grow my assets to an 8-digit figure. My secret is to only trade one type of pattern, decisively entering when the opportunity arises, and not trading when there is no pattern. For five years, I have maintained a win rate of over 90%, thanks to my patience and accurate judgment.
However, the path of cryptocurrency trading is not smooth. For newcomers who have just entered the crypto space and are getting involved with contracts, I have the following suggestions:
During the day, it can be hard to stay calm and see the situation clearly, so it is best to trade at night. This way, you can avoid emotional interference and analyze the market more clearly.
After making profits, do not chase trades; you must understand how to take profits. Greed is the enemy of trading cryptocurrencies, and once you fall into it, it is easy to turn profits into nothing.
Trading decisions should be based on market environment analysis, and not made based on feelings. Only through rational analysis can you make the right decisions.
Fourth, when you have time to watch the market, do not easily set stop-loss or take-profit orders to avoid being forced to liquidate due to minor fluctuations hitting the stop-loss price. However, if you do not have time to watch the market, you must set them to prevent major losses from sudden spikes.
Fifth, the goal of trading cryptocurrencies is to cash out. After making profits, you should regularly transfer or withdraw some funds. This is the only way to ensure that profits are secured and to avoid losses caused by greed.
Sixth, when trading short-term, you can pay attention to the 1-hour candlestick chart and determine whether to go long or short based on the second-tier rise and fall trends. When encountering sideways movement, you can analyze using the 4-hour and 1-day candlestick charts. At the same time, be sure to set stop-loss and take-profit orders.
In addition, I would like to share some practical experiences I have summarized from ten years of trading cryptocurrencies and three years of losses:
First, when trading cryptocurrencies, focus on strong coins. If uncertain, you can look at the 60-day moving average. If above the line, add positions or hold; if below, decisively exit.
For coins that surge in a short period, do not blindly chase the high. It is safer to buy at a low level, with less risk and potentially greater returns. There are often signals before a big rise, such as small price fluctuations but decreasing trading volume. At this time, you can slowly buy in at a low level and wait for the big rise.
Fourth, when new market hotspots emerge, you should closely follow the footsteps of large capital. Seize this rare opportunity; making money easily is not a dream.
Fifth, when a bear market arrives, learn to take a break. Avoid frequent operations for at least half a year; it is better to act less when the market is poor.
You should review your trading strategies weekly. Stick to what works and improve on what doesn't. Only in this way will your trading journey be longer and more successful.
