I believe I have the most say on this point as someone who has been trading in cryptocurrencies for 10 years. Ten years ago, I also scoffed at technology and had no interest in it. I felt dull and irritated and did not believe what most people said. I thought their technical analysis was nonsense. During those three years, I acted arbitrarily and worked hard, but in the end I was penniless.
I had to borrow 400,000 yuan from my brother-in-law before I could continue on my path to becoming a god. I also quit my high-paying job to trade in cryptocurrencies full-time. Up to now, I have 51 million yuan in the market, and I earn 50,000 yuan a day just from interest.
In addition to excellent skills, I also strictly follow the following 10 tactics:
1. It is better to miss than to make a mistake
I have shared with you before that there are no good stocks, only good buying points! Because the entry point directly determines the exit point and how much profit you make. So the entry point is absolutely the most important thing in my operation process. Even if you see that some stocks can rise, and the rise is very strong, but there is no buying point, you can only miss it, or participate in a small position. Because there is no buying point, it has risen, which means that the cost of entry is higher than others. It is easy to help others in the short term. If the funds are large, the psychology of a slight retracement is uneasy. So either miss it or wait for a retracement to find a good entry point to intervene.
2. Always leave a way for yourself
Everyone is the same. At the beginning, they were blinded by greed. They would go all in when they made a move, and they were always very confident. With more and more experience, I found that sometimes there were still many surprises. Although the general direction was right, many times the entry point I thought of was still a little far from the actual point. When the funds were small, the position management problem was not prominent, but when the funds were large, the position was prominent. The result of a full position is that you often take the elevator, get stuck in the short term, and the floating loss is large, which directly affects the operation mood. Therefore, no matter when, you must have a medium-term and long-term position strategy, and even if you are 200% confident, you should not have a 100% position, which is equivalent to leaving yourself a way out!
3. Earn what you deserve
When drowning in a sea of three thousand people, only one scoop of water can help you drink. When most stock investors start to speculate in cryptocurrencies, they want to get every currency from beginning to end, and they want to get all the rising parts and avoid all the falling parts. After several years, they finally gained nothing. Finally, after learning from their mistakes, they decided to focus on one pattern. I am dedicated to determining the bottom pattern, so what I share is centered on the bottom. If there is no bottom, I will do the accelerated rising pattern. We open any K-line pattern +, list the patterns that can make money, and choose a common pattern. Then we will firmly do this pattern. Over time, this pattern will become your ATM, because you know most of the traps and opportunities contained in it, so it is easy to make money, and earn the part that you should earn. This is also the purpose of our coming to the cryptocurrency circle.
4. The more you lose in cryptocurrency trading, the more cautious you should be in covering your position
Cryptocurrency market traps Many people are very anxious after being trapped in cryptocurrency trading. Instead of thinking about leaving the market, they keep adding to their positions to spread out their holding costs, hoping to recover their investment in a round of explosions. This is actually against common sense. The decline process cannot reverse losses in a day or two. Adding to positions is just a way to comfort yourself. The more anxious you are, the more likely you are to make mistakes, and you will regret it in the end. Why do you dare to add to your positions at this position?
5. Operational discipline must be strictly enforced
Many cryptocurrency traders will make detailed plans before trading, such as how low the market will fall before selling, and how much the price of a coin will be before buying, but they are often easily stimulated and tempted during trading. If you can't even execute your own plans, then you are not playing in the cryptocurrency circle, but in a casino. Nine out of ten operations before trading are wrong.
6. Don’t get emotionally attached to an asset
If you fall in love with the asset you are trading, it is easy to make mistakes. Good traders use efficiency and rules to make money and gain an advantage, because most people in the market are dominated by emotions. "Being an emotionless trading machine" can ensure decisiveness and principle in trading. One of the important reasons why many traders suffer heavy losses is that they are easily emotionally attached to certain altcoins, teams or projects. This is acceptable for medium and long-term investors, but it is a potential disaster for short-term traders.
7. Keep your trading rules simple
Traders often combine multiple indicators, news and candlestick patterns to try to find a suitable confluence point for trading. This is not a problem in itself, but be careful not to over-analyze and complicate the problem. In fact, when the candlestick pattern that suits your system appears on the chart, you can start trading. At the same time, pay attention to stop loss setting and position control, which is particularly important.
8. Only trade when you are in the right mindset
Don’t trade when you are angry, tired or stressed about something. Your mindset will affect your judgment. The key to maintaining a good mindset is to have other daily activities outside of trading. For example, fitness, reading, and spending time with family and friends can help cultivate the right trading mindset.
9. Don’t forget that technical analysis is a game of probability
There is no absolute correctness in technical analysis, it is essentially just a probability game. That is to say, no matter what technical method you use to formulate a strategy, there is no guarantee that the market will operate as expected. Technical analysis is just a prediction and cannot be treated as a deterministic event.
No matter how experienced you are or how impressive your performance is, you can never assume that the market will follow your technical analysis. If you think this way, it is easy to over-bet on a certain assumption, resulting in excessive risk exposure, and the market will teach you a lesson in minutes.
10. Be strict with yourself
It is very difficult to defeat yourself. Qingtian thinks it is more realistic to understand your own problems and avoid them. Trading does not need to be so complicated as you think, as long as it is simple and effective. Cryptocurrency trading requires finding the right trading principles for yourself according to your own characteristics and strictly implementing them. Discipline and mentality control are more important than technical improvement. Only in this way can you survive in the market for a long time.
The most important thing in investment is to avoid failure, rather than to seize every success. The same is true in trading. It is better to let go than to make mistakes. Sometimes waiting is also a kind of profit.
The magic order I have been preparing for these few days is about to be launched!!!
Comment 168 on board!!!
Impermanence belt Impermanence belt Impermanence belt!!!
Important things should be said three times!!!
