Since starting with 100,000 in contracts, my net worth has reached eight figures; my journey in cryptocurrency trading could be called a novel! Here are some summarized experiences!
1. If your initial capital is not very large, for example, under 100,000, capturing a significant market fluctuation once a day is enough; do not be greedy and always hold!
2. When encountering major good news, if you don’t sell on the same day, remember to sell the next day at a high opening; cashing in on good news often leads to bad news.
3. News and holidays are also very important; when facing major events, adjustments should be made in advance (reducing positions or even going to cash). From past experiences, major events will definitely lead to significant fluctuations, so if you can’t grasp the direction in advance, wait for the market to come and follow the trend!
4. Mid to long-term strategies should definitely be light on positions, leaving enough room for operation; stable operations are the best strategy, and do not operate with heavy positions.
5. Short-term trading focuses on following the trend, entering and exiting quickly; avoid greed and hesitation. When the market fluctuates significantly, look for suitable entry points, and if the market is stagnant and not active, wait patiently in cash.
6. When market fluctuations are slow, rebounds will also be slow; when market fluctuations are quick, corresponding adjustments will also be rapid!
7. If you enter the wrong position or direction, cut losses in a timely manner (do not hesitate to hold on), as cutting losses is essentially a form of profit; preserving capital is the fundamental basis for survival in the market.
8. Always refer to the 15-minute K-line chart for short-term trades; using the KDJ indicator can better capture suitable entry positions.
9. There are countless techniques and methods for trading cryptocurrencies, but the most important thing is still the mindset. A person's mindset is crucial; the cryptocurrency market can easily make you feel the ups and downs, so adjust yourself accordingly.