1. In this market full of opportunities and challenges in the cryptocurrency world, after more than a decade of trials and tribulations, I have accumulated a wealth of valuable experience that I wish to share with you to help you avoid detours on your journey in cryptocurrency trading.
2. Capital management is crucial. For small amounts under 200,000, do not fall into the trap of frequent trading. Patiently waiting for a major upward trend once a year is wise. Betting everything carries extremely high risk, so learn to control your impulses. Understanding is the cornerstone of wealth; first, use a simulated account to hone your mindset and courage. The multiple failures on a simulated account can build experience for real trading, as a single failure in real trading can come at a painful cost.
3. Positive news is often a double-edged sword. When major positive news is announced, if you haven't sold by the end of the day, be decisive in selling at the opening the next day to prevent a reversal after the news is priced in. The market is volatile around holidays; it is wise to reasonably reduce positions or go into cash a week before holidays. In most cases, the market tends to decline during holiday trading.
4. Mid to long-term investment emphasizes the art of 'rolling operations.' Hold cash in hand, reduce positions moderately when prices rise, and buy on dips during declines, repeating this cycle to optimize holding costs. Short-term trading focuses on trading volume and patterns; only active cryptocurrencies provide more profit opportunities, so stay away from obscure coins that no one cares about.
5. The rhythm of market rises and falls is traceable. When the decline is slow, the rebound will also be relatively gentle; however, a rapid decline is often followed by a sharp rebound. Acknowledging mistakes and stopping losses is a form of wisdom; protecting your capital is the baseline for long-term survival in the market. Short-term trading can focus on the 15-minute candlestick chart and use KDJ indicators to accurately grasp buying and selling opportunities. Quality in techniques is more important than quantity; mastering a few practical techniques is sufficient to handle the complex and ever-changing cryptocurrency market.
6. Trading cryptocurrencies is a dual game of psychology and skills; methods and mindset complement each other, while strong execution is the key to transforming theory into profit. Remember these insights, bravely engage in practical combat, and may you harvest your own wealth in the cryptocurrency market.
If you like contracts, enjoy studying charts, and researching techniques, click on my avatar. With years of experience and skills in the cryptocurrency world, I share them freely. I’m waiting for you in the community, always online, welcome to discuss and improve together.