I was born in 1990 and have been trading cryptocurrencies for 10 years. I entered the cryptocurrency world in 2013-2014, losing all of my parents' hard-earned savings of over 1 million. I also had to...
Relatives and friends borrowed 500,000 to trade, and they all paid tuition in the market, losing 1.5 million altogether. The whole family was on the brink of collapse; I...
My wife has been arguing with me about this every day, threatening divorce. Under such great pressure, I considered jumping off a building several times. Fortunately, my willpower at that time...
My determination remains strong; I believe I can earn it back!
After a year of adjustment, I started resigning to trade cryptocurrencies. I swore to my wife that if I don't make the money back, there will be consequences...
I will fully commit myself from now on, summarizing the mistakes I've made earlier, identifying the points of operational error, and observing the thoughts and techniques of trading masters.
Finally stabilizing, turning losses into profits is truly not easy! The account is starting to turn positive, combining medium and short-term operations, no longer blindly entering and exiting.
It's important to plan the account well; a combination of medium and short term strategies is the best for compound interest.
Later, I secretly borrowed 200,000 yuan from my wife. I spent 8 years turning 500,000 into 47 million through sheer effort.
After this, my wife looked at me differently. From the moment I started making money, her attitude completely changed; she became like a good baby, obedient to me!!!
The secret methods of the cryptocurrency world; mastering just one can unlock a life of wealth. One good move can really lead to great success.
One, the longer the sideways movement, the higher the rise; the longer the sideways, the higher the rise.
Sideways fluctuations + are indicative of bottom accumulation; the more chips accumulated, the greater the ambition.
The phase of sideways accumulation, with fluctuations indicating strong accumulation, is characterized by wash trading, which involves back-and-forth price movements—simple and brutal, but always effective.
Two, if it suddenly drops while moving sideways, it must be a small drop; after dropping, it must rise. If it suddenly rises while moving sideways, it must be a small rise; after rising, it must drop.
Three, if it doesn't create new lows, it will rise quickly; if it doesn't create new highs, it's not good.
Not creating new lows indicates that there is a major player entering to continuously purchase, indicating that the bottom is approaching. Not creating new highs indicates that the dealer is secretly unloading, which is very bad.
Four, when the volume reaches a minimal point, it is bound to surge, and when it peaks, it is bound to drop sharply.
The trading volume is very low, with no one buying or selling. Either everyone is holding their chips waiting for a rise, or the dealer has run out of chips waiting for a drop.
Five, after a shallow drop at the peak, it will probe again; after a rebound at the bottom, it will test again.
The dealer is selling off the unsold goods again, while testing the waters is to collect the chips shaken off at the bottom again.
These six iron rules, I hope you can remember them.
1. Avoid revenge trading.
When a trade is closed, whether in profit or loss, one must strictly adhere to the rules. After executing a stop-loss, try not to look at it again within 24 hours. This can effectively avoid vengeful trading; opening positions with a revenge mentality can likely exacerbate losses. Some believe that one should stand up from where they fell, but before new entry conditions are triggered, remaining calm and observant is more important. Since traders look at charts for several hours every day, it is difficult to resist the temptation to open positions again after a stop-loss. When using leverage for swing trading, it is especially important to avoid a vengeful mindset.
2. Try to avoid trading on weekends. During weekends, the volatility of cryptocurrency prices increases, and trading volume is very low. This makes it difficult to predict short-term price movements. The reason is simple: weekend buy and sell orders are usually smaller, market liquidity is lower, and whales can more easily manipulate short-term prices, making the disadvantages of retail traders even more pronounced. Additionally, since the cryptocurrency market operates 7x24 hours, the trading intensity is much higher than in the stock market, and weekends are a good time to unwind and rest; after all, life is greater than trading.
3. Maintain specific trading times. As mentioned, the cryptocurrency market operates 7x24 hours, continuously and unceasingly. Even full-time traders cannot keep staring at the screen all the time. To maintain a clear mind, set fixed trading hours for yourself. After opening a position during trading hours, set your take profit and stop loss, and then you can go do other things. This eliminates the impulse to constantly check your phone or study candlesticks, allowing trading to not interfere with normal life.
4. Do not become emotionally attached to any asset. If you fall in love with the asset you are trading, it can easily lead to poor decision-making. Excellent traders make money through efficiency and rules, positioning themselves advantageously, as most traders' actions in the market are driven by emotions. 'Being an emotionless trading machine can ensure decisiveness and adherence to principles. Many traders suffer heavy losses because they easily become emotionally attached to certain specific altcoins, teams, or projects. This is acceptable for medium to long-term investors, but for short-term traders, it can be a potential disaster.
5. Keep trading rules simple. Traders often combine various indicators, news, and candlestick patterns to find a suitable convergence point for trading. This in itself is not a problem, but it is important to avoid over-analysis that complicates things. In fact, when a candlestick pattern suitable for one's system appears on the chart, trading can begin. At the same time, be sure to set stop-losses and manage positions; this is particularly important.
6. Trade only with the correct mindset. When you feel angry, tired, or stressed about something, don't trade; your mindset will affect your judgment. The key to maintaining a good mindset is to engage in other daily activities outside of trading. Activities such as exercising, reading, and spending time with family and friends can help cultivate the right trading mindset.
I am preparing to stealthily invest in a project that will surge in the short term; doubling is definitely possible. Friends interested in spot trading but lacking direction can like and comment for free sharing.
