If you have been trading cryptocurrencies for over a year and haven't made a million, after reading these 10 tips, if you still can't make money, come find me.
1. If your capital is not very large, for example, under 200,000, catching a major uptrend once a year is enough; never be fully invested all the time.
2. A person can never earn wealth beyond their understanding. First, practice your real mentality and courage with a simulation account. You can fail an unlimited number of times in a simulation, but in real trading, one failure could mean losing everything, or even distancing yourself from the market forever.
3. When encountering significant positive news, if you don’t sell on the same day, remember to sell on the next day when it opens high; realizing profits often means negative news.
4. When facing major holidays, reduce your position or even go to cash a week in advance; historically, prices tend to drop during holidays.
5. The strategy for medium to long-term trading is to keep enough cash on hand, sell when prices rise, buy back when prices drop, and rotate operations accordingly.
6. Short-term trading mainly depends on trading volume and chart patterns; actively trade in patterns that show large fluctuations, and avoid those that are inactive.
7. A slow decline will have a slow rebound; a rapid decline will have a quick rebound.
8. If you make a wrong purchase, acknowledge it, cut your losses in time, and preserving your principal is the fundamental principle of surviving in the market.
9. For short-term trades, always look at the 15-minute candlestick chart. You can find better buy and sell points using the KDJ indicator.
10. There are countless techniques and methods for trading cryptocurrencies; mastering a few well is enough, don't be greedy!