Ten years of trading coins, experiencing three years of losses but also enjoying seven years of profits, and now I rely on it to support my family! During this process, I have summarized six important experiences, which are simple but very practical.
Focus on strong currencies: When trading coins, focus on those that are performing strongly. If unsure, look at the 60-day moving average; enter the market or increase positions when above the line, and exit in a timely manner when below. This tactic works most of the time.
Avoid chasing highs: When the coin price rises more than 50% in one go, do not rush to enter the market, as it can lead to panic. Buying at a lower level is often safer, with lower risks and potentially greater returns.
Identify bullish signals: Before a significant rise, there are usually some signs, such as the price fluctuating 10% to 20% within a small range, but with relatively low trading volume. At this point, gradually buying in at a lower level can often catch the upward trend.
Seize new hotspots: When the market presents new hotspots, the first few days are usually very active. Following the footsteps of large funds to enter the market can often lead to easy profits.
Stay calm in a bear market: When a bear market arrives, keep your hands steady, and it’s best not to act for at least six months. Try to minimize actions during poor market conditions; learning to rest is the hallmark of a skilled trader.
Regularly review and adjust strategies: Review your operations weekly, not just looking at how much you've earned, but evaluating whether your strategy is correct. If it’s right, stick with it; if not, adjust in a timely manner. After a few months, your trading strategy will become increasingly robust.
Remember, success is not accidental; it belongs to those who are always prepared.