I have been in the cryptocurrency circle for a full 10 years now. In the first three years, I lost over 700,000 from a 1,000,000 principal! My whole family was almost on the brink of collapse, and I didn't go out for nearly two months. My husband was arguing with me every day about divorce. Fortunately, my willpower was strong enough at that time, and I believed I could earn it back! In the fourth year, I wanted to turn things around with the remaining 300,000 and started trading cryptocurrencies full-time after quitting my job!
Summarizing the mistakes made earlier, I vowed to my wife that if I don’t earn it back, I will do something! ... Later, I began to invest wholeheartedly, correcting operational mistakes, observing the thoughts and techniques of big players in the cryptocurrency circle, and finally started stabilizing. Transitioning from loss to profit is truly not easy!
The account begins to turn profitable, combining short and medium-term operations, no longer blindly buying and selling quickly, but planning the account properly; the combination of short and medium-term is the best for compound interest! With the remaining 300,000, I have now turned it into over 45.7 million!
The simplest way to make money in the market! Once you have an epiphany, it's like drinking water!! Remember the money-making rules in a bull market!!
1. Once an uptrend begins, it will not easily end, so do not be afraid of significant corrections that occur early on. Boldly enter the market; the most troublesome thing is to continue waiting for a lower point, the longer you wait, the higher it goes, and you miss out completely.
2. In a bull market, there are many spikes. If you haven’t filled your position, wait for a pullback and then go all in; otherwise, you’ll get hit with spikes that most people can’t withstand.
3. You must manage your positions well. It’s best to have layouts in several key sectors because if you go all-in on one sector, and that sector doesn’t move in the short term while others rise, it’s the most painful. If you chase it and get stuck, a few days after you clear out, it might take off again. Many people have experienced this, so either don’t buy or if you buy, you must hold firmly; you will eventually wait for your turn. In a bull market, even the worst can yield five to ten times.
4. The market always rises in divergence; what a bunch of people criticize is often an opportunity, while when everyone is optimistic, it is actually a risk.
5. Don’t always think about making short-term high sell-low buy; once you get off the bus halfway, you will find that you can never go back. Playing short-term, you might as well let others lie still and earn more.
6. Every time the market pulls back, there will be panic; everyone says the bull has run away. The truth is that it takes at least three or four major corrections before a bull market can end. So don’t be afraid; you must have a vision. As long as you can hold on and it’s not a junk coin, even the worst can yield five to ten times. After a bull market, getting two to three times in spot trading is really not that impressive.
Precautions in short-term trading.
1. In short-term trading, you need to learn how to use candlestick charts.
2. In short-term trading, you need to understand the importance of the time frame, from larger to smaller, in order.
3. In short-term trading, learn how to watch the external market. When external market prices fluctuate greatly, the domestic reaction often has high openings and low closings or low openings and high closings. At this time, short-term trends may run counter to long-term trends, so be cautious in your operations.
Regardless of any trading method, the signals from indicators carry a probability issue, which places higher demands on capital management, stop-loss setting, and psychological control. Fighting against the medium- to long-term trend leads to death from holding positions against the market.
Many people believe they lose money in futures because the trading cycle is too long, and that trading short positions is fine. However, when losses reach a point that clearly requires a stop-loss against the market trend, there is always a psychological struggle: to stop-loss or not? Sometimes there is always a fluke mindset, thinking the price will come back, leading to a long-term hold against the trend and dying. Even worse, new traders who do not understand the trend hope to average down by adding positions. As the market trend diverges further from their holding direction, they become heavily invested and die faster. They have taken the first step down the path of death.
Neither over-leveraging nor holding positions, frequent trading, chasing highs and selling lows.
After several twists and turns, the available profits become smaller and smaller until there is no profit left, leading to death. Most reasons for loss and liquidation can be summarized as the above types, such as being too greedy, which usually results in over-leveraging. Take a detailed look at the top ten blind spots in futures trading below.
Full position trading --- full position must lose.
Frequent trading ---- lacking technical guidance.
Counter-trend operation ---- low probability, high risk.
Locked-in trading ---- does not accept the fact of loss.
Lowering and raising the average position price --- compounding errors.
Guessing tops and bottoms, not setting stop-losses ---- looking for reasons for mistakes.
Enter long when there’s a short and enter short when there's a long --- overly pursuing perfection is aimless.
Trusting rumors, blindly following the trend ---- lacking understanding of the market.
Not good at self-reflection, doubting the market ---- creates fear of the market.
Establish a long-term trading plan ---- the future is uncontrollable.
Many times, trading in the cryptocurrency market is like driving on the road.
First learn how to drive a car at a driving school. Once you know how to drive, if you do not follow traffic regulations, it is only a matter of time before an accident occurs. Even if you drive according to traffic regulations, you may not hit anyone, but others may hit you. There are pitfalls everywhere, so to drive safely, you must also learn to avoid pitfalls.
If you still don’t know how to operate, comment 299, no long attachment!
