If retail investors master these six points, turning a capital of 100,000 into 5 million is definitely not a dream. So what are the six points?
First point, you must know how to set stop losses and take profits.
When we trade cryptocurrencies, the goal is to make money, not to hold on to them like family heirlooms. Being greedy when making money and reluctant to cut losses when losing is not acceptable. If the position trend is not right, you must act immediately.
Second point, stop always trying to catch the bottom and escape the top.
There are no absolute lows and highs in the market; ordinary people can't play that game. What we can do is to buy and sell in the bottom and top areas to make steady profits.
Third point, volume and price must match harmoniously.
Be cautious of positions that rise without volume or reach new highs without volume. They are likely false signals of the main force offloading; never chase them, it’s better to miss out than to make a mistake.
Fourth point, reactions must be quick.
As soon as there’s a hint of change, quickly find the beneficial sectors and companies. Don’t miss the second tier if you can’t catch the first; you can still gain quite a bit.
Fifth point, you must learn to rest.
As the saying goes, it takes three months to hit the bottom and just three days to hit the top. When the price of the coin rises, the main upward trend is just a short segment; you need to seize the opportunity. At other times, just relax and recharge.
Sixth point, a sharp decline is a big opportunity.
Often, a sharp decline hides even greater opportunities. When others are greedy, you must be vigilant; when others are afraid, you must be brave. During a market crash, don’t be afraid; pick some good positions and build your holdings boldly.
These six points sound simple, but it’s not easy to truly implement them.
Why? Because the weaknesses of human nature are too difficult to overcome. If you can’t get over this hurdle, then the dream of 5 million will be hard to achieve.
In the upcoming layout direction, I will guide the fan group to aim for the huge profits in altcoins, especially for those projects with great potential; doubling is quite simple.
Stop being a headless fly buzzing around everywhere, hoping to gain several times the returns in a bull market. I will be here to guide you throughout, making it easy for you to get in and enjoy the bull market dividends together!
