What I said today is heartfelt and true! I have been trading cryptocurrencies for 10 years. The first three years were continuous losses, starting with 300 and losing down to 400,000! It was really painful! My wife didn't support or understand me! Later, I quit my job and devoted all my energy to it! Every day was busy exploring and summarizing! Now I can finally achieve stable compounding, and my account has made back over 40 million!
Today, I will share with you 11 super rules for trading cryptocurrencies. I hope to inspire newcomers in the crypto space and help them avoid detours! Grow by standing on the shoulders of giants! If you learn it well, you can also achieve doubling!
In this mysterious field of opportunities and challenges in the crypto space, some become rich overnight, while others lose everything. When you grow from tens of thousands to hundreds of thousands, you will touch upon some ideas and logic for making big money, and your mindset will stabilize a lot. After that, it is about continuously replicating successful experiences.
Don't always fantasize about millions or even a billion; start from your own reality and avoid empty talk. After all, boasting only leads to more boasting.
Two years ago, I met a senior in Shanghai who easily withdrew more than 12 million in the crypto space using the simplest method. He taught us that the great way is always simple. If you overcomplicate trading, the more factors you consider, the more inaccurate your judgments will be.
Those who lose money trade cryptocurrencies like this. To make a profit is actually quite simple: just find a method that suits you and that you are good at, and repeat it. Before you know it, your account balance will rise. Below are some of the phrases he shared; as long as you can learn, you may not achieve returns like the seniors but can still see significant improvements.
First, high and low, wait a bit longer. When the market is in a sideways consolidation phase, it’s best to observe for a while, because after consolidation, the market will change. It’s better to act once a clear trend emerges.
Second, do not fall in love with hot positions; your holdings should frequently change. From start to finish, it could all end up being empty. All short-term popular positions are speculative. When the heat fades, capital will immediately exit, and if you move slowly, you will be left alone, disoriented in the wind.
Third, a rising gap indicates hope for a significant increase. When the K-line slowly ascends, showing a high opening bullish line and increasing volume, it signifies that the market is entering an acceleration phase. At this time, we must remain calm, hold our positions steadily, and what awaits you is a wave of substantial gains. Be decisive when exiting at the close, regardless of whether it's a high or low, after a massive bullish line appears, there will be a retracement.
Fourth, do not fall in love with massive bullish lines; even if it hits the limit, you should exit. Because we need to prevent profit retracement.
Fifth, buy on the online bearish lines, and also buy on the offline bullish lines. Selling on a bearish line is also acceptable. Here, lines refer to moving averages or important support or resistance levels. Short-term traders generally only look at daily moving averages and daily attack lines. I don't like to dither; I usually hold for only three days, at most not exceeding one week, regardless of how good it gets later.
Sixth, do not chase highs, do not sell, do not buy during a crash, and do not buy; this principle can be considered a basic rule for survival in the crypto space. If you want to survive in the crypto space for a long time, you must remember this phrase.
Seventh, when you buy, prepare first; it’s better to enter less than to enter too much. No matter how confident you are, you cannot put all your funds in at once. Because in the crypto space, the only constant is change.
Eighth, learn to observe the news, and learn to interpret market information. When significant news comes out, it is usually when cryptocurrency prices fluctuate the most, which could lead to a big rise or a big drop. Traders need to make judgments. For beginners, it is advised to stay on the sidelines during major news events.
Ninth, learn to observe the technical aspects and master the knowledge of technical indicators. The learning of technical indicators requires long-term accumulation. Set a learning plan for yourself to study moving averages, KDJ, Bollinger Bands, K-lines, volume-price, capital flow, etc.
Tenth, make a good trading plan; avoid frequent trading. Frequent trading not only incurs high fees but also affects trading mentality, leading to a loss of rational judgment.
Eleventh, do a good job of risk control. When trading, ensure you have stop-loss and take-profit measures in place. Control risks, keeping both profits and risks within an acceptable range. When the price reaches your stop-loss or take-profit point, the system will automatically assist you.
These days, I am preparing to launch the divine trades soon!!!
Comment 168, get on board!!!
Impermanence brings impermanence brings impermanence!!!
Important things should be said three times!!!
