Twenty years of trading cryptocurrencies, summarized into 10 pieces of advice!
I am someone who is determined to trade cryptocurrencies for a lifetime! From initially entering the market and accumulating debts, to now becoming wealthy through trading, I have summarized 10 pieces of trading advice. If you want to make a successful comeback, please read carefully, and I hope you can gain something from it.
1️⃣ A surge is a signal to exit, not to enter. Blindly chasing highs will only leave you stranded; if you don’t want to be stuck for a year and a half, it's best to understand clearly before getting in.
2️⃣ If a coin occupies more than 70% of your position, then if this coin crashes or encounters some unexpected events, your position will suffer severely, making it hard for you to recover.
3️⃣ Don't spread your positions too thin. Many fans come to me with dozens of different coins; not only can they not keep track of them, but if half of them drop and half rise, it's essentially meaningless.
4️⃣ In situations where spot trading is uncertain, you must build your position in batches, so that your average cost can be at a relatively low point. Exiting should also be done in batches to take profits at relatively high points.
5️⃣ When trading contracts, always use large funds with small positions. This minimizes risk while also providing relatively decent returns, with a higher margin for error.
6️⃣ Always set stop-loss and take-profit levels for contracts. Avoid holding onto losing positions or going against trends; a profit-loss ratio of 2/1 or 3/1 is ideal. This way, if you place ten trades, even if you have five winners and five losers, you will still make a profit.
7️⃣ When trading contracts, learn to analyze technical and news factors, and observe the daily inflow and outflow of capital in the market, as well as the movements of large investors, combining technical and news analysis to determine entry and exit points.
8️⃣ It’s best to wait for a trend to develop before jumping in for contracts. Small funds should preferably only engage in intraday trading; no one can consistently catch both the head and the tail of a fish, just aim to meet your psychological expectations.
9️⃣ In the crypto world, mindset is more important than technique. Don’t panic at minor fluctuations; a market with both rises and falls is a healthy environment.
🔟 Avoid frequently changing positions or opening new trades; one contract a day is sufficient. If the market doesn’t provide opportunities, wait for two days and don’t force it. If you've chosen quality potential coins in spot trading, hold on to them firmly.
The market is about to correct, and the opportunity to buy low on altcoins is coming! I have carefully selected a coin expected to increase by 2-5 times. Leave a comment + like for a free share!
