Relying solely on naked K and trend lines to achieve stable profits without looking at technical indicators is extremely challenging. Although these basic tools help in understanding market trends, they cannot fully capture the complexity and uncertainty of the market.
If you happen to come across this article, I suggest you calm down and read slowly. If you encounter something you don't understand, you can skip it for now, read the whole text, and then ponder over it carefully. In this restless society, being able to calmly read some sincere in-depth sharing articles is a blessing for the reader as well as for the creator.
Experience Sharing from Brother Poison on turning 200,000 into 20 million in the cryptocurrency space.
I. Three Steps to Successful Trading
Insight into Trends: In the cryptocurrency market, trends are the key to determining victory or defeat. By reviewing larger timeframe charts such as 4-hour, daily, and weekly charts, we can clearly capture the market’s upward, sideways, or downward trends. Remember, go long when the market is rising, go short when it is falling, and stay on the sidelines when it is sideways; this is the first step to steady trading.
Finding Key Levels: The market is like a bouncing ball; each jump has a take-off point and a landing point. Our goal is to enter at the take-off point and exit at the landing point, and accurately finding these key levels is key to achieving profits. These key levels are often the main support and resistance levels in the market.
Capturing Entry Signals: After determining the trend and key levels in the larger timeframe, we need to look for trading signals in the smaller timeframe to accurately grasp the entry timing. Everyone's trading strategies may vary, but regardless of the strategy, it is essential to quickly formulate and strictly execute it.
II. Complete Trading Strategy
A successful trader must have a complete trading strategy. This includes:
Target: Define the object of the trade.
Position Size: Allocate funds reasonably to avoid over-leveraging.
Direction: Accurately judge the bullish or bearish trend of the market.
Entry Point: Look for entry signals near key levels.
Stop Loss: Set reasonable stop-loss points and execute them promptly to control risk.
Take Profit: After reaching the profit target, decisively close the position to lock in profits.
Countermeasures: Contingency plans for unexpected market situations.
Aftertrade: Follow-up operational plans after a trade is completed.
III. Insights and Discipline in Trading
Don’t Chase Highs: Always remain calm and don’t blindly chase after rising prices.
Buying Point is King: Only coins bought at the right point are good coins. Patiently wait for significant buying points to appear.
Mindset Determines Everything: Overcoming greed and fear, maintaining a stable mindset is key to trading success.
Focus on Market Signals: Do not get emotionally attached to any coin or price level, only focus on market signals.
Summary of Mistakes: Every mistake is an opportunity for growth; summarize and improve in a timely manner.
Control Desires: Being overly eager for success is a major taboo in trading; control your greed and desires.
Long-term Strategy: Trading tests long-term profitability; develop and execute a long-term effective trading strategy.
Patience in Holding: Good coins need time to grow; holding them patiently will yield substantial returns.
Follow Market Rhythm: Listen to the rhythm of the market; dancing with it will allow you to navigate the market with ease.
The Power of Compounding: Remember the miracle of compounding; as long as you maintain a good mindset and skills, compounding is inevitable.
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