Speaking of patience in holding positions, American investment master Cro is also a trend trader. His short positions can last 8 to 9 months, while long positions can last as long as five years. The cryptocurrency market moves fast; when a trend comes, you should at least hold on for a month or two!
With patience in holding positions, we also need to talk about rolling positions. What does rolling positions mean? It means adding to winning positions. After establishing a base position at the bottom, when the market moves in the expected direction, the only way to achieve substantial profits is through rolling positions.
How to seize the opportunity to roll positions? Here, I will borrow a sentence from "Futures Trading Strategies". "The pullback points in a main upward trend; when the pullback meets support in the main upward trend, add to your position, pyramid-style." If you feel uncertain about the upward trend, set a separate stop-loss point for each additional position to ensure the safety of your base position, so that even if there's a pullback, your principal won't be hurt. Profits will start to run, and if you make a mistake but have used effective strategies, your principal won't be harmed either; at worst, you can look for new trend trading opportunities next time.
Now that you've achieved two forms of patience, you can either exit at break-even to find new trend trading opportunities or consider how to take profits for substantial gains. By following the discipline and maintaining two forms of patience in this way, you have perfectly captured substantial profits in this main upward trend.
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