On the path of trading cryptocurrencies, I have transformed from a small grassroots investor with 5000 yuan to a middle-class individual with 5 million! I need to share the tricks of the trade with everyone.
First of all, you need to learn how to manage money, don't just throw it all in at once. I divide my money into five parts, and I only use one part for trading at a time, which significantly reduces the risk. I have also set a rule for myself: if I lose 10%, I withdraw. This way, even if I make five consecutive wrong moves, I only lose 10%. But if I make a profit, I can earn much more than 10%, so even if I get stuck, I'm not afraid.
When trading cryptocurrencies, you have to follow the trend. When the market is falling, don't always think about bottom fishing; those are traps. When the market is rising, a pullback is an opportunity, and buying on dips is much safer than trying to catch the bottom.
Choosing the right coins is also very important. Stay away from those that have skyrocketed in the short term, whether they are mainstream or altcoins. They rise too quickly and lose momentum afterward; once they start to fall, there's no stopping them.
Speaking of techniques, the MACD indicator is quite useful. When the DIF line and the DEA line cross below the zero line and then break above it, that’s a good time to buy. Conversely, if they cross above the zero line and move down, it’s time to reduce your position.
Never blindly add to your position; that’s a big taboo! Adding to a losing position only increases your losses, and you might end up losing everything. Remember, don’t add to your position when you’re losing, only add when you’re making a profit.
Trading volume is also key; when the price of a coin breaks out at a low level with high volume, that’s an opportunity.
Also, follow the trend to maximize your chances of winning. Look at the daily line, 30-day line, 84-day line, and 120-day line; when they turn upward, you'll know what to do.
Finally, choosing the right trending coins is the most important! Just like the Musk puppy coin that I am invested in, there are already tens of thousands of holders on the Ethereum chain, and in the short term, it can yield 30%-60%, and in the long term, it could be even more, with a potential of 10-30 times!
The path of trading cryptocurrencies carries both risks and opportunities; the key is to know how to plan, observe trends, and select coins, so you can rise from a grassroots level to the middle class like me!
Now BTC has retraced to 92,000, and the market is exploding! In this situation, it's the perfect time to lay low and accumulate potential altcoins! I have carefully selected a coin that is expected to triple in the short term and grow 5-10 times in the long term. Leave a comment + like, and I will share it for free!