With 5000 yuan in cryptocurrency trading, how can I quickly reach 100,000?
Listen to my advice:
In the early stages of trading, don’t fantasize about getting rich quickly, but rather learn more, and use small funds to experiment and improve yourself. The most important thing is to gradually form your own trading system!
The essence of trading is: cut losses when wrong, hold when right, small losses and big gains, manage large profits and losses. Specifically for each core element:
1. Follow the trend: Find a simple moving average to determine long and short positions; go long only above it and short only below it.
2. Test position: Act in accordance with the trend, follow the big trend and counter the small trend. When entering, consider a sufficiently large potential risk-reward ratio; if you enter at this position, the stop loss is small if wrong, but if right, the profit is large, generally at the bottom of the trend or early in the trend.
3. Test position stop loss: If a key point is broken, you must stop loss; no room for luck. If the price comes back, you can look for another opportunity to enter. Do not have a lucky mindset, thinking it might bounce back, and definitely do not average down losses.
4. Increase trend position: Add to a profitable position; adding is the core of making big money. After the price rises as expected, if it retraces to a support level or breaks previous highs, add to the position—follow the big trend and counter the small trend.
5. Set stop loss for trend position: For newly added trend positions, move the stop loss to the new key point. The main position is already safe; only the added position carries stop loss risk. If it fails, stop loss the added position and wait for the next opportunity. If it continues to rise, hold the position firmly, continue to wait for a retracement to add, and keep moving the stop loss. Until the last stop loss is triggered or a head signal appears to take profit.
6. Take profit: Never take profit easily; this is the key to making big money. Exiting can be in batches or all at once, preferably all at once, as this allows you to wait for the most probable head signal. If it’s right-side trading, floating profits will definitely retrace, you must accept this; don’t think about selling at the highest point, or if you didn’t sell at the highest point, feeling like you lost and waiting to sell at the highest point.
As long as you can master and follow these principles in practice, and maintain discipline and consistency, you will find that making money comes naturally!
The picture below shows the TROY multi-dan I did with fans yesterday.
Friends who are currently confused and directionless in trading, comment 1; this bull market will help you get on shore.
