Since I started with 10,000 and my net worth has reached 8 digits, my cryptocurrency trading journey is like a novel story! Here are some summarized experiences!
1. If your initial capital is not very large, for example within 100,000, catching one major market fluctuation a day is already sufficient. Do not be greedy and always hold positions!
2. When encountering major positive news, if you don't sell on the same day, remember to sell on the next day's opening high. Cashing in on good news often turns into bad news.
3. News and holidays are also very important. When facing major events, adjustments should be made in advance (reduce positions or even go to cash). Historically, major events will lead to significant volatility. If you can't grasp the direction in advance, just wait for the market move and follow the trend!
4. A medium to long-term strategy should always involve light positions to leave enough operational space. A stable operation is the best strategy; do not operate with heavy positions.
5. Short-term trading focuses on following the trend, quick entries and exits. Avoid greed and hesitation. In the case of significant market fluctuations, look for suitable entry points. If the market is not active, then stay in cash and wait patiently.
6. When market fluctuations are slow, rebounds will naturally be slow as well. If market fluctuations are rapid, the corresponding corrections will also be swift!
7. If you enter the wrong position, promptly cut losses (do not hesitate to hold the position). Cutting losses is a form of profit; preserving capital is the foundation of survival in the market.
8. For short-term trading, always look at the 15-minute K-line chart. The KDJ indicator can help better capture suitable entry points.
9. There are numerous techniques and methods for cryptocurrency trading, but the most important thing is still the mindset. A person's mindset is crucial; the cryptocurrency world can easily make you feel the highs and lows, so adjust yourself accordingly.