Nine Brothers Fans Contribution
I started playing with 200,000 yuan at the end of last year, and now I have 20 million yuan, easily making a hundred times profit. The experience is summarized below for your reference!
It turns out that it is so easy to make money by trading. It only takes these three steps! Master them and easily increase your account by 10 times!
Step 1: Look at the trend first
Step 2: Find the key position again
Step 3: Find entry signals
Enter the market, make a profit, close the position, and leave
Isn’t it simple?
Let me explain it in more detail below.
Step 1: Look at the trend first
The state of a market, the market trend can be divided into three categories: rising, sideways, and falling.
What is a big market? Look at the periodic chart of more than 4 hours.
For example, 4 hours, daily, weekly (my personal habit is to look at the 4-hour chart)
Go long when the price goes up, go short when the price goes down, and don’t go short when the price goes sideways
Step 2: Find the key position
Whether the market is rising or falling, it will jump up or down like a bouncing ball.
What we need to do is to enter the market at the starting point and exit the market at the next landing point. How to find the precise step becomes the key #Bitcoin
This is what we call the key position (main support and pressure position)
Step 3: Find the signal
Generally, if you find the market in the big cycle, you should look for trading signals in the small cycle to enter the market #Ethereum
Everyone is good at different tactics, and being proficient in one or two is enough #币圈
More importantly, a quick way to develop a trading strategy
A complete trading strategy includes
(1) Subject matter – what is being traded;
(2) Position – how much is held;
(3) Direction – long or short;
(4) Entry point - at what point to trade;
(5) Stop loss – when to exit a losing trade;
(6) Take profit – when to exit a profitable trade;
(7) Countermeasures - how to deal with emergencies;
(8) Follow-up operation: the operation after the transaction is completed.
Today, adhering to the concept of helping others and helping yourself, I will share with you the 10 short-term tricks I have summarized. Each trick is a valuable experience gained with real money. If you understand and comprehend them thoroughly, you can avoid 5 years of detours!
The initial stage of the investment market is diligence and skills, the middle stage is wisdom and mentality, and the advanced stage is humanity and morality. Only when you know how to clear away distracting thoughts, keep your mind calm, and overcome all the weaknesses of human nature can you get the ticket to profit.
I sincerely suggest that both newbies and veterans need to read the article I wrote today. After all, it must be of great help to you. I went from huge losses to financial freedom, and now I have a 2,000-square-meter villa, a Land Rover and a small Rolls-Royce in Shanghai!
I hope the discipline and experience of cryptocurrency trading will be useful to everyone!
1. Never buy coins at high prices. You must have this mentality: it can grow as much as it wants, just treat the coin as if it doesn't exist.
2. There are only two types of coins. The coins at the buying point are good coins, otherwise they are junk coins. The coins at the large-scale buying point are the best blue-chip coins. Be patient and wait for the coins at the large-scale positions to become real blue-chip coins.
Excellent stocks, this is the real mentality.
3. In fact, the mentality of cryptocurrency trading is the most important. Many people know clearly that it is not a good time to buy, but they can't help it. This is a mentality problem. If this is not solved, any theory will be useless. #web3
4. Keep a steady mind and don't have feelings for any currency or point. Just look at the market signals. You should have feelings for the buying and selling points. If you have good skills and a lot of funds, for example, you can buy and sell at 30 minutes.
If you operate within 10 minutes, then it is never too late.
5. The reason for mistakes has nothing to do with the market. When looking for reasons, you can only look for your own reasons. You must summarize any mistakes immediately.
6. The mentality of being anxious to make money is a taboo for us cryptocurrency traders. If we cannot control our own hearts, greed and desires, we will not be able to succeed in the market for a long time. When we hold the currency, our thinking is controlled by the longs, and vice versa, we are the slaves of the shorts. The market sentiment is accumulated and guided by this. Those who cannot get out of this state will always be unreal market participants.
7. Cryptocurrency trading tests long-term profitability, not one-time profit. The key is a long-term effective trading strategy. When buying, you should think about various situations, be firm in holding, and be even more firm in selling, so that you can gradually improve. You should trade in cryptocurrencies, not cryptocurrencies that trade you. Start with yourself first.
8. The cryptocurrency market will only reward those who are patient. Any good cryptocurrency needs to be nurtured. If you change new coins every day, you will definitely always have small funds and make small moves. Be more focused. If you run around every day, you will definitely not make a lot of money.
9. Dance to the rhythm of the market. As long as you follow the rhythm of the market, you can still walk on the edge of a knife.
. Rhythm is always the rhythm of the market. A market participant without a sense of rhythm will always be tortured. Put aside your greed and fear and listen to the rhythm of the market. As long as you can follow the rhythm, no one can stop you. The market has a rhythm. Grasp the current rhythm and no one can defeat you.
10. When playing with capital, remember that the power of compound interest is the greatest. As long as you have a good mentality and skills, compound interest is inevitable, and this can overcome everything.
Speaking of currency speculation:
Three questions to think about before you start
1. Can the digital currency industry make money?
2. Can you make money in the digital currency industry?
3. What role do you play in the digital currency industry?
Classification of behaviors in the cryptocurrency market
In the cryptocurrency market, there are two types of behaviors: investment and speculation:
1. Those who invest are called investors, and those who speculate are called speculators
Second, speculation is divided into speculative market or professional trading.
invest:
In theory, investment is a long-term behavior. Its focus is on profitability regardless of the length of time.
Of course, there are three elements involved: time cost, risk estimation and future benefits.
Financial Markets
If everyone is right, it will disrupt the financial system, so the financial market is maintained by a large number of people who make mistakes, and these wrong people use their own money to create a group of rich people.
Speculative Markets:
When we deploy different platforms one by one and switch back and forth between bull market platforms, this pattern is called speculation. When speculation occurs, the evolving transactions turn us from speculators into traders. At this time, we must transform the impetuous mentality of speculators into the mentality of professional traders.
Trading is divided into risk estimation, psychology, and money management, etc.
Today we will mainly talk about psychology, fund management, risk estimation and profit
Speculators are collectively referred to as leeks in the market. All the money earned by the bankers is basically the speculators' money. Of course, there are also some people who follow the footsteps of the main force and choose to reap the bankers. So it is often said that the most romantic thing I can think of is to distribute chips to retail investors at high levels. People cannot go against the trend, they can only follow the trend.
Trading Psychology:
If retail investors feel bullish, they sell
If retail investors feel bearish, buy now
This is a very simple anti-psychological trading pattern
The factors that affect the price of virtual currency in the market are divided into several modules:
1. Market development, policy factors, market sentiment, historical prices, large-scale operations and breaking news.
Technical analysis for retail investors
In real trading, mentality comes first, money management comes second, and technology comes third.
Technical Analysis:
Every time you make an order, you should ask yourself what kind of order it is, short-term, medium-term, long-term, or swing trade.
Short-term investment is not profitable and tiring, long-term investment is easy and profitable. Now is the middle of the bull market, so you should buy low and sell high to make a profit. Cryptocurrency trading should be done happily.
The most profitable part of technical analysis is to grasp the trend, whether it is futures, foreign exchange or cryptocurrency
So there is a saying: chasing highs will ruin your life, buying at the bottom will make you poor for three generations, and honestly trading in waves will make you rich and handsome sooner or later.
Bands are an important means of profit in the entire financial field, and bands are divided into peaks
That is, the lowest and highest points of the band. If you choose to go short at the top and go long at the low point, this series of profits will make you continue to make profits.
If you are a long-term investor and you really get the lowest point, you will be excited when the peak rises, because you will make money and may go higher in the future. However, if the peak falls and reaches the trough, your mentality will change. Therefore, during this period, we should make changes according to the changes in the market. Because when the trough is reached, you may not be able to hold on. It is very likely that you bought at the bottom and sold at the bottom. Therefore, in this process, you will be under great psychological pressure.
Position management:
I found that many people choose half position when trading.
Even if you go all in, you will be very nervous during the whole process. In the end, you will definitely suffer losses or even get your account liquidated. Worse still, you will lose everything. (Queuing on the rooftop)
Fund management methods to survive in the market
The first one is the position
The position control is that each time you enter the position, you are not allowed to exceed 30%. Even if you are 80% sure that it will rise, you are not allowed to exceed 60% of the position. Because you still have 40% of the principal, and this 40% is to make up for the capital even if you lose 60%. But if you enter the position at a point, you will have no principal when you lose money, and you may not be able to make a comeback.
When you choose to enter the market, you have already entered 30% or 50%. When the trend really goes as you expected, and you decide to increase your position, I hope you will increase your position again. Because one position is enough to pull the average price to a very high position.
For example, if you have 20,000 yuan, you open a half position and buy at 1 yuan. When the price rises to 2 yuan, you have turned over 50% of your principal, which is 100% of your position. If you use the remaining 50% to cover your position, it is equivalent to buying 20,000 coins at a price of 1.5. In this way, your cost will increase by 50%, so you will bear 50% risk again. In other words, your original 100% profit has become 50% profit and 50% risk.
Therefore, each time you add a position, you are not allowed to increase the position, and the funds used for adding positions must be half less than the funds used for the first opening of a position, because the price changes are completely controlled by the main force. Even if you copy at the bottom, the main force will still find a way to wash you out.
To give a simple example, only people who smash their computers and mobile phones can buy Litecoin for 25 yuan.
Until now. If you often watch the transaction, if you bought Litecoin at 25 yuan, it is really difficult to get more than 100 yuan. Because the main force will wash the market back and forth, so that you can't hold it, because when there are many people buying at the bottom, they will grab the main force's chips, and the main force will use the price below your bottom price to make you lose money.
Way to wash you out.
Stop Loss:
Stop loss should be the first priority, but there is no stop loss without entering the warehouse, so stop loss is the first priority after entering the warehouse. Stop loss should be set every time you make an order, whether it is short-term, long-term, medium-long term or swing. Stop loss is a trading mode that ensures the safety of funds.
Generally speaking, stop loss is set according to personal tolerance, but we can choose support positions according to technology.
Set a stop loss.
Some investment consultants do not set stop loss when doing futures, which is equivalent to queuing on the rooftop. So no matter what financial module you do, never resist the order. If you are wrong, you must admit it. The market will forgive you and give you a chance. But if you are wrong and do not admit it, it is equivalent to going against the trend, which is equivalent to wearing short sleeves in winter and cotton clothes in summer.
Stop loss is set according to personal ability. Generally speaking, it is also based on personal analysis of the market and the conversion of support and resistance. When the expected point is reached, you can choose to continuously move the stop loss up or down.
Moving the stop loss up is to ensure your profit!
For example, when you enter the market with 1 yuan, the stop loss setting should be 80 cents. Then when the price rises to 2 yuan, the support level fluctuates around 1.5 yuan. You can change the stop loss to around 1.5 yuan. This is moving the stop loss up. Moving the stop loss down is a very difficult decision to make because you are already losing money. This will undoubtedly magnify your risk, so it is not recommended to move the stop loss down. Once the stop loss is moved down, it is equivalent to having no stop loss in a sense.
Remember to set your own stop loss before placing an order, resisting the order will only lead to death!!!
Take Profit
Take profit is a very effective profit model in the market, because when you can predict the peak and valley in the market, triggering take profit can fully guarantee your profit and automatically exit the market with profit.
In the short term, because you need to enter and exit quickly, you are watching the market, so you don’t need to look at the take-profit, but you must set a stop-loss.
Mid- to long-term investors will check prices from time to time and usually close their positions manually.
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Therefore, take profit is more suitable for mid-line and swing.
Taking profit depends on personal ability. You must not take profit at the highest point in the market, nor will you take profit at the lowest point in the market.
Retracement:
Retracement is also a trading pattern to preserve profits. It is often mentioned in foreign exchange.
For example: after you open a position, you use 10,000 yuan to make a profit of 100%, and the funds become 20,000 yuan. When you find that your profit is shrinking, no matter how good you think the trend is, or you think it is a normal pullback, when the profit changes from 10,000 to 5,000, you choose to close the position, which is called a retracement. The retracement rate is 50%. Generally speaking, our profit rate must be forced to close the position when it retreats to 50%. Even if we cannot maximize our profits, we must do our best to keep our profits. Therefore, when the profit shrinks, we must consider the retracement and close the position manually to keep the profit, no matter how good the point is. This is a good trading concept.
Drawdown is related to a person's personality and a person's trading system.
Related, (a trading system is a trading habit, as well as a person's personality, psychology and feeling about the market to form a personal trading habit. We call it a trading system, which is everyone's trading system.)
Trading mentality:
1. Sentiment Index
2. Mentality control
In the war between money and money, the main force uses the anti-psychological model to snatch the chips of retail investors. For example, in a transaction with an upward trend, he will use a callback to make you panic and snatch your chips away. Because the financial market is a game between money and money, and psychology and psychology. Therefore, the proportion of the sentiment index in the entire market is very high.
There are many types of sentiment indexes, such as rapid feelings of joy and sorrow, self-confidence, fear, greed, etc., which can be felt in a trading cycle. We can clearly feel the emotions in the market during a trading day.
For example, in the current Litecoin market, the entire market is in a sluggish wait-and-see period. During this period, there is no increase in volume, and no one dares to enter or retreat. People who are trapped in this range dare not come out or increase their positions. This is a normal trading sentiment.
In the process of making profits, we may end up with reduced profits or even losses due to our self-confidence and greed. When we are afraid or disappointed, we will not have a calm mind to face the market. Therefore, the emotions in the market and your personal emotions are directly related to the growth of your funds. This is related to the personal growth environment. When we face the entire financial market, we must keep our emotions in a calm state to look at the problem.
Some retail investors cheer when the market goes up, and curse when it goes down a little. In fact, the rise and fall of the market are normal phenomena. Don't think you can dominate the market when it goes up, and feel that the whole market has abandoned you when it goes down. You must have a calm mind to face the market, even if you lose money, you must face it calmly and analyze what you did wrong, because the market can tolerate everything.
For example, in the foreign exchange market, even if the United States suddenly collapses and the US dollar index falls sharply, the K-line chart can accommodate the collapse of the United States and the collapse of any country. Therefore, the K-line chart can accommodate all the negative and positive factors in the market. Even if the K-line is going badly, it can accommodate it.
So don't fight the market. In the whole trading mood, you will have some important emotional fluctuations. In the process of holding a position, for example, you hold a long order, and this long order may not be at a good point. You may choose to enter the market below a resistance zone. At this time, you must be very scared and afraid, so stop loss is very important.
When you hold a short position
At that time, you happened to be at a support level, and your psychology at this time was also fearful. There are also short positions and short positions, which is also a significant panic. Many retail investors also panic when they take short positions or go short. This is also a very normal trading emotion in the market. Of course, don't be controlled by the sentiment of the entire market. If you are short, the market will always give you the opportunity to enter the market again. It's not necessarily a bad thing that you missed out.
There is a famous saying in the market:
You enter the market with money, and as long as you lose money, you are making money!
We enter the market with money for the purpose of making money, but don't take making money as the purpose. Although you enter the market with the purpose of making money, you may not necessarily make money, because in real transactions, a qualified trader is a smart person who can make money, and a fool can only lose money in transactions. Because his thinking is not fast, he can't gain a foothold in this market. Even if he works hard, he may not be able to flexibly follow the footsteps of the main force to choose to make a profit.
That is to say, you must keep up with the rhythm, because the market may turn from short to long, and from long to short at any time. In real transactions, you must keep a calm and flexible mind.
The concept of sentiment index profit:
You may not be able to hold on to your chips during the process of making profits. For example, if you buy at 1 yuan, you may still hold on when it rises to 2 yuan, but you may be out of the market when it rises to 3 yuan. When it rises to 4 yuan, you may be so excited that you may imagine that your bicycle will soon become a car and you will get rich immediately. At this time, you may quickly close your position and make a profit. As a result, you never thought that it might rise to 100, and at this time you are in a state of missing out. When the whole big trend comes, you hold on to the bottom position.
I hope you can? For example, when you get Litecoin at 25 yuan, it rises to 80 yuan without a sharp drop. At this time, there is no need to close your position. Maybe it can fly to 250. But in fact, below 100, 90% of retail investors have closed their positions at 25 yuan. Those who really did not close their positions either left it for too long and didn't see it, or they are real masters. Or it's a coincidence, which is a very normal thing.
Another thing is how to control our mentality. The only major change in mentality is stop loss and loss. Stop loss and loss are inevitable in the market, and we must learn to accept them with a calm mind. Because only those who have suffered major losses will concentrate on learning technology. Because if you have never suffered a loss, your mind will be floating in the air, and you cannot really learn and feel the wind and rain in the market.
Emotionality is a big taboo in the trading system. When you miss out on opportunities, don't chase the rise or sell the fall.
This is something that every retail investor will do. So once something goes up, you must not choose to enter the market if there is no suitable entry point, because your entry is to lift the sedan chair for the main force. Lifting the sedan chair means that you are pulling the market for the main force, so don't use emotions to choose to enter the market with a resentful mentality, even if it means waiting a little longer, because emotional psychology will make you fight against the main force and the trend, so at this time you have no ability to control the market and the result is bound to be failure.
There was a case of a 5.5 billion yuan liquidation in the cryptocurrency market. Why did it happen? Because he refused to admit his mistakes, resisted orders, and was emotional. It was that simple. He was liquidated. 5.5 billion may be an astronomical figure for us, but in the financial market, it is thinner than an ant's leg. Especially in the cryptocurrency market, newcomers should not enter the cryptocurrency market all at once, because the pressure and risks in the cryptocurrency market are far greater than those in other markets.
Don't complain that the market doesn't follow your psychological ideas and the trend you set. Respecting and fearing the market is the bottom line for everyone who comes into contact with the financial market, because the market is always right and can accommodate everything. This sentence means don't fight against the trend, don't fight against the market. If the market says it will fall, you should follow its footsteps to go short, and if the market says it will rise, you should follow its footsteps to go long. Don't be anxious when we don't have the ability to judge whether the market is going to rise or fall, because this should be linked to technical analysis.
A true trader’s mentality comes first, money management comes second, and technology comes third.
There are many types of techniques, but among these three factors, the most difficult is mentality, and the easiest is technology.
Trading discipline:
4. When trading conflicts with real life, when you don’t have time to make a trade, don’t force it.
Because of the rigid order-making, you may not do well in real life and even suffer losses from the money you earn from operating in the market.
Like virtual currency
The market is a T+0 market, operating 24 hours a day. Most of the situations are changing rapidly, so the price may change drastically in ten or even dozens of minutes. For those who do not have time to operate, if they cannot stop loss in time, they will miss the best opportunity or even incur losses.
5. It is expressly forbidden for anyone to borrow money to enter the financial market
Borrowing money to enter the financial market will first affect your mentality. When your mentality changes and you are eager to make a profit, you are already losing money. When you don’t have a cool head to face the market, all you can get is a loss.
What is a real trader?
You need to have an independent mind and a calm head, a mind that changes quickly
There are few stars in the financial market, but there are many celebrities. Ten years later, if you ask who the person was who made 300 bitcoins and thousands of litecoins with 0.5 bitcoins, maybe everyone has forgotten his name. But decades later, when you mention Buffett,
, when you think of Soros, you still remember this stock god and short-selling master.
A true trader must have many qualities. Speculation in the market is not something that anyone can do, because speculation in the market is directly linked to trading. A good trader must have good trading talent. Talent is a very important concept.
When you have entered this market for ten or twenty years and still cannot get stable returns, what reason do you have to continue to do that in this market? It's like falling in love. You pursue a girl, but the girl doesn't like you. Can you pursue her for the rest of your life?
Being a good trader is directly related to talent. A good trader does not have the mentality of getting rich overnight. This mentality is said when trying to hype up the entire market sentiment, but a real trader will not have this mentality.
A trader once said, "My goal is to make a profit of 30% of my principal and a loss of 5-10% of my principal in a month." If I make a profit of 30% this month, I will close all my positions, and spend the rest of my time studying and enjoying life. This is why many traders like this market, because the market will not let you make profits all the time, nor will it let you lose money all the time. A good trading concept is stable and long-term profits, not getting rich overnight. If you get rich overnight, you often can't keep this wealth, because you may not quickly leave this market and choose to take the money for yourself, and you may pursue greater profits.
When you are out, don't rush to enter the market. You must tell yourself that you are out and you need to wait. Waiting is a very good way to enter the market, because only by patiently waiting can you look at the entire financial market rationally and the entire plate more rationally. Ask yourself every day whether you have entered the market. If not, please wait patiently. Waiting may not make money, but at least you will not lose money. But if you blindly rush into the market, you may not make money, but you will definitely lose money.
When entering the financial market, you have to ask yourself whether you define yourself as a speculator, investor or trader, because when you have no talent for trading or speculation, you can only choose the investment area to make profits and plan for the long term.
Among the ten real traders, six may be divorced, and among the remaining four, only one or two can make money. Among these one or two, there must be a woman. The difference between women and men is that women know how to take the money and run, while men are often more greedy.
So when you have positioned yourself and decided to become a trader, you should start to study diligently and systematically, and choose to review the market when settling profits every week (review historical market conditions and consolidate your feeling about the market conditions). In addition, you should correct your mentality.
Retail investor psychology:
The psychological routine of retail investors is the same. When the market sentiment is high, the main force only needs to add fuel to the fire and eat up the chips at important points, and retail investors will actively follow up, and retail investors will push the price to the point that the main force wants to reach, and then the main force will easily distribute chips at a high level.
When market sentiment is high, many people will be infected by the market sentiment, making the entire market filled with madness, so there will be many highs, and the highs will be broken again and again.
After experiencing a big rise, a sudden drop will make the whole market calm down, just like being poured a basin of cold water when it is very hot, and then the market will panic, and then retail investors will be afraid that their losses will increase, and they will sell a large number of chips in their hands. However, the market points will fall again and again, and when certain support is broken, it will aggravate the whole situation, and you will also hand over your Litecoin of 25 yuan.
The price of currency is closely related to the sentiment in the market. When batches of negative or positive news come out, retail investors in the market are often unable to analyze and think calmly from a rational perspective and mentality. They are easily infected by the sentiment of the entire market, thus allowing the main force to succeed.
There is nothing wrong with maintaining profits when the price of a currency falls, but the problem is that we need to consider whether this is a real decline or a deliberate panic created by the main force.
For example, a while ago, a piece of news about a Bitcoin ransomware virus was released. This virus quickly spread to the world, and major media outlets around the world were scrambling to report on Bitcoin.
At this time, Bitcoin was recognized by the whole world, and many computers were infected. From the perspective of the country, Bitcoin was definitely defined as a money laundering tool. However, as for the price of the currency, because the virus could not be cracked in a short time, many people paid for important documents. At this time, these people would definitely buy Bitcoin in the Bitcoin market. From May 25, the price of Bitcoin was further pushed to a historical high. From 18888 to 19000. So we have to interpret this news correctly. Of course, when Bitcoin was recognized by some countries, this news was to expand the world's seriousness about Bitcoin. Of course, the consequences are not for us to consider, but for the country to consider.
In June, the government will regulate Bitcoin, which may be a negative in the short term, but it is a positive in the long term, because when the government regulates Bitcoin, it does not explicitly ban Bitcoin, which is exactly the positive that the government recognizes Bitcoin with another attitude. So when facing a piece of news, we should think rationally about the news.
When we can use psychoanalysis properly
When using technical analysis, you can avoid risks and maximize profits. Buffett once said that I will withdraw when the market is the most enthusiastic and enter when the market is the most depressed. The principle is very simple, but few people can really do it.
When the market panics, such as when Litecoin was cut in half some time ago, the market was filled with the sentiment that Litecoin was going to go bearish and Litecoin was going to 80. When Litecoin was hitting 250, the market was filled with the sentiment that Litecoin was going to 800. So when this morbid mentality enters everyone, it is easy to lose their rationality. A cool head is the magic weapon for success.
In conclusion, investing is risky and you should be cautious when entering the market!
At this time, I hope everyone will think again about the three questions at the beginning.
When you have enough time and energy, and you want to invest, speculate, and trade, you can differentiate your funds.
Take 50% of the funds to invest, 30% of the funds to speculate on various platforms, and 20% of the funds to choose real transactions in this market with the mentality of losing money at any time. Because there is really a possibility that you may lose all your money at any time in the market. Of course, if 20% of the funds can allow you to pay enough tuition, it is worth it.
The three realms of financial markets
Coins in hand, coins in heart
Coins in hand, no coins in mind
No money in hand, no money in heart
The final state is to leave the financial market
There are thousands of virtual currencies in the world and hundreds of them on the market. It is impossible to study them all.
First, you must be clear about your financial situation and use part of the funds for long-term investment, because long-term investment is the easiest way to make money.
Second, don’t trade frequently. The more you trade, the more mistakes you will make.
You can win N 100% in your life, but you can only lose one 100%
Therefore, your profit and loss ratio is a disproportionate concept in life. I hope everyone pays attention to it.
Third, learn to wait, because only by waiting can you better understand who you are and what you want to do.
The last of my cryptocurrency trading experiences summarized from my ten years of cryptocurrency trading. A must-read for both newbies and veterans!
Cryptocurrency trading is not as simple as you think. You can't make a lot of money just by buying and selling. A qualified cryptocurrency trader must not only understand the economy, follow the news, understand national policies, and care about the international situation, but also study the fundamentals and technical aspects of virtual currency, and constantly fight against his own fear and greed. You must have a big heart, and you must be able to withstand ups and downs, from nothing to something, from something to nothing, and withstand temptations and torture. It can be said that those who survived the cryptocurrency circle are basically indomitable, immune to all poisons, and tempered into steel.
Three principles of gold mining:
Principle 1: Strictly control the position of 50% when building a position, so that you can defend when retreating and attack when advancing. Don't hold a full position at any time. Once the position falls sharply, even the gods can't save you.
Principle 2: Once the price has increased by 2-3 times, we must sell half of it first. After we get back our investment, we will use the profit to play with the dealer slowly, and then sell it slowly when it reaches our own price. We keep 10% of the bottom position to avoid missing out on the benefits given by the powerful dealer's sudden pull.
Principle three: When the market is crazy and everyone is chasing the rise, you must sell your chips slowly in stages and batches. Don't be superstitious about the numbers in your account. Only the money in your pocket is yours. The platform account is just a string of numbers.
Three secrets for cryptocurrency trading!
Tip 1: Don’t put large funds on small, informal websites for cryptocurrency trading. Other websites are no longer available, so go to formal large websites if you want to play, such as Huobi, Bitcoin Era, etc.
Tip 2: There are so many crowdfunding coins recently, so please keep your eyes open. It’s not that you cannot invest in all of them, but there are many traps. Be cautious and don’t take your chances. Understand them clearly and don’t just invest in crowdfunding. That’s like gambling and taking your chances.
Tip 3: The cryptocurrency market has been rather sluggish recently, and the overall market is cooling down. For short-term operations, wait and see, and then take action when you see the opportunity. For long-term investment, you can choose high-quality coins ranked in the top 20 in the world, and you can build positions in batches at low prices.
(Remember, don’t go all-in, that is, don’t buy a lot of coins at once and invest too much money. You can start with a half-position, half of the coins, control the risk and funds, and then when the price goes up or down, you can make up for the position in time and stop the loss. This will be more conducive to making money. If you don’t make up for the position in time, you can minimize the loss. Speculating in coins is to make money, so you must be prepared to avoid unnecessary losses.)
Finally: It is crucial not to follow the trend. There are many newcomers who have just started to trade in cryptocurrencies. They see in the group or someone says to sell, and if they don’t sell, the price will fall sharply. In fact, this is the stupidest thing to do, because many people either don’t have any goods at all, or they are trying to fool the newbies and create panic so that you will dump the goods, that is, let you sell at a low price. Some people can’t stand the fright and quickly sell all the goods in their hands. After you sell, those people will take the goods at a low price. You sell at a low price and lose a lot of money, while the dealer and the people who create panic and take the goods at a low price will make money. When it comes to cryptocurrency trading, the suggestions given by others are always just suggestions. The key is to make your own judgment.
