I accumulated about 20 million from the cryptocurrency market, starting with less than 60,000 in capital. I haven’t looked for a job for 9 years, trading cryptocurrencies full-time, during which I experienced significant market fluctuations, but the key was to seize a few bull market opportunities.
1. Each trade's risk should be controlled within 10% of the capital, especially for beginners, it's best to stay between 2%-5% to ensure you don't lose everything on a single trade.
2. After entering the market, you must never close your position early due to short-term fluctuations or lack of patience. The market takes time to ferment, so patiently wait for it to validate your strategy.
3. Every trade must be executed according to plan; over-trading only increases the likelihood of mistakes.
4. After making a profit, secure your gains by adjusting your take-profit and stop-loss, continuously following the market trend until you detect a trend reversal.
5. Setting a stop-loss point is key to trading; do not casually cancel it, and stick to risk management after entering the market.
6. Avoid greedily adding positions when the market is going smoothly, as this can easily lead to a break in your capital chain.
7. Switching from long to short positions requires very high trading skills; beginners should not attempt it lightly.
8. When trading is going well, stay cautious and avoid arbitrarily increasing your position, as this can lead to falling into the trap of complacency. This set of trading principles has helped me steadily move forward in the cryptocurrency market and avoid many unnecessary risks.