šI LOST A LOT OF MONEY IN CRYPTO...š°
...but after a lot of struggle and learning, I managed to flip the coin and drive amazing profits. Here are 8 golden rules that helped me make bank with crypto:
šš¼ 1. DIVIDE & CONQUER: Split your funds into 5 parts and invest only one-fifth each time! Keep a tight leash with a 10-point stop loss. Mistakes are inevitable, but with this strategy, you'll only risk 2% of your total funds per trade. Set a stop profit of more than 10 points to avoid getting trapped.
šš° 2. FOLLOW THE TREND: Improve your winning rate by following the trend! Buying on rebounds in a downward trend may seem tempting, but it's often better to wait for declines in an upward trend.
šš 3. AVOID SHORT-TERM HYPE: Steer clear of coins that have skyrocketed in the short term. Whether mainstream or copycat, few coins sustain multiple waves of rising trends. Don't gamble on these volatile movements.
šš 4. MACD INDICATORS: Use MACD to time your entry and exit points. A golden cross below the 0 axis signals a steady entry, while a dead cross above the 0 axis suggests reducing positions.
šš 5. AVOID AVERAGING DOWN: "Covering positions" can lead to heavy losses. Resist the urge to double down when you're losing; instead, increase positions when profitable. Don't dig yourself into a deeper hole.
š¹š 6. WATCH THE VOLUME: Volume and price indicators are crucial. Pay attention to large-volume breakthroughs at low consolidation levels and exit decisively when high levels show stagnation.
šā¬ 7. RIDE THE UPTREND: Stick to currencies with upward trends to maximize your chances of winning. Watch for key indicators like the 3-day, 30-day, 84-day, and 120-day moving averages to gauge the direction of the market.
šš 8. WEEKLY REVIEW: Consistently review your holdings and adjust your strategy accordingly. Check for any changes in logic, technical trends, and market direction.
š Follow @Professor Mende - Founder of BONUZ Project - in Dubai UAE š¦šŖ