I lost a lot of money in these markets, but with these steps I succeeded ✅️:
I lost a lot of money in crypto 💰, but after a lot of struggle and learning, I was able to flip the coin and make amazing profits. Here are 8 golden rules that helped me build a bank with cryptocurrencies:
📉💼 1. Divide and win: Divide your money into 5 parts and invest only one-fifth of it each time! Keep a tight leash with a stop loss of 10 pips. Mistakes are inevitable, but with this strategy, you will only risk 2% of your total money per trade. Set a stop profit of more than 10 pips to avoid falling into a bearish trap.
📈💰 2. Follow the trend: Improve your win rate by following the trend! It may seem tempting to buy a bounce in a downtrend, but it is often better to wait for dips in an uptrend.
🚀📉 3. Avoid short-term noise: Stay away from coins that have risen significantly in the short-term. Whether mainstream or imitation, few coins sustain multiple waves of uptrends. Do not bet on these volatile movements.
📊🔄 4. MACD indicators: Use the MACD to determine the timing of entry and exit points. A golden cross below the 0 axis indicates a flat entry, while a dead cross above the 0 axis indicates a reduction in positions.
📈💔 5. Avoid pullbacks: “Covering positions” can lead to huge losses. Resist the urge to double down when you lose; Instead, increase positions when profitable. Don't dig yourself into a deeper hole.
💹📈 6. Watch the volume: Volume and price indicators are crucial. Pay attention to high-volume breakouts at low consolidation levels and exit decisively when highs show stagnation.
📈⬆ 7. Ride the uptrend: Stick to currencies with uptrends to maximize your chances of winning. Monitor key indicators such as the 3-day, 30-day, 84-day and 120-day moving averages to gauge the market trend.
🔄📝 8. Weekly review: Constantly review your holdings and adjust your strategy accordingly. Check for any changes in logic, technical trends and market direction.
