10 years of trading cryptocurrencies, summarized into 7 experiences!

I am someone who is determined to trade cryptocurrencies for life! From getting beaten up when I first entered the market to now trading full-time to support my family, I have summarized 7 pieces of trading advice. If you want to make a spectacular comeback, please read carefully. I hope everyone can gain insight from this.

1. When the coin price enters a stable upward channel, every dip is just a temporary stop, and it's a good opportunity for us to get on board. There are no coins that keep rising; dips are like a compressed spring, preparing to jump higher.

2. If it enters a confirmed downward channel, any rebound is an opportunity to exit. Once the trend turns bad, it may take a long time to rise again, so don’t resist the trend and don’t waste your time.

3. Short-term fluctuations depend on sentiment and fundamentals, but in the long term, don’t focus too much on minor fluctuations, as the current market sentiment is in place; fundamentals determine the length and width of the upward movement.

4. Manually judged bottoms are generally not true bottoms but rather halfway down the slope. The real bottom is determined by sentiment and capital, so do not blindly catch the falling knife; often, 9 out of 10 attempts to catch the bottom end up being stuck.

5. Don’t rely too much on positive news; real market movements are about playing expectations. Many retail investors love to trade based on news, but most of what you hear is just what others want you to hear. Even if it’s true, you don’t know how many hands it has passed through, and by the time you find out, the market may have already ended.

6. Don’t arbitrarily increase leverage; this will not improve your winning rate. Once you incur losses, the stakes will be infinitely magnified, so don’t increase your risk unnecessarily.

7. Set your stop-loss and take-profit levels! Set clear targets for yourself; decisively stop-loss at a certain level and sell when it reaches a certain level. Don’t stare at the rising price for too long; many people lose money in a bull market simply because they don’t take profits in time.

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