I have been speculating in currencies for 89 years and invested 120,000 yuan in the market. Now I support my family by speculating in currencies. I summarized my hard-earned experience:

1. Currency: Determine the cryptocurrency you want to trade. For example, Bitcoin (BTC), Ethereum+ (ETH), etc.

2. Position: Decide how much you want to hold. This depends on your money management strategy and risk tolerance.

3． Direction: Determine whether to go long (buy) or short (sell). This needs to be judged based on market trends and technical analysis.

4. Entry point: Determine the point at which to enter the trade. can be based on

Determine based on technical indicators, support and resistance levels, etc.

5. Stop loss: Set a point to exit a losing trade to control risk. A stop is usually placed below the entry point.

6. Take Profit: Set a point to exit profitable transactions to ensure profits. Usually a take profit level is set at the target price.

7. Countermeasures: Develop strategies to deal with emergencies. For example, how to respond to major news or fluctuations in the currency market.

8. Backhand: the operation after the transaction is completed. For example, record transaction logs, summarize experiences and lessons, adjust strategies, etc.

After formulating a strategy, the next thing you have to do is execute it, wait patiently, and strictly abide by trading discipline+.

Quietly wait for the market to develop towards your expected goal. As time goes by, there are two outcomes:

Lose money: Sum up experience, accumulate lessons, and become more courageous with every setback. Loss is a normal transaction cost and is normal.

Make a big profit: You are safe, you can increase your position or adjust the positive stop loss position to gain more profits

A transaction process is now complete.