If you want to earn 10 million a year, trading cryptocurrencies is one path to consider for full-time trading!
1. Risk Management: Stick to trading no more than a certain percentage of your capital (e.g., 10% or less) each time, which can help you avoid significant losses in bad trades and allow you to participate in more trading opportunities.
2. Patience and Confidence: Maintaining patience is crucial in investing. Many investors miss potential market gains due to a lack of patience, closing positions too early. As long as the initial analysis and judgment have not been contradicted by new market information, you should hold your position.
3. Disciplinary Execution of Plans: Creating a plan and strictly adhering to it is key to maintaining consistency and avoiding emotional trading. Overtrading is often driven by greed and fear, leading to losses.
4. Take Profit and Stop Loss: When trades are profitable, adjusting the take profit and stop loss points can maximize returns while protecting realized profits. It is essential to be ready to exit at any time, acting immediately when market trends reverse.
5. Avoid 'Naked Trading': Always set a stop-loss when entering a position to protect your capital. In unpredictable markets, not setting a stop-loss is equivalent to being exposed to risks without protection.
6. Control Position Size: Even if trades start to be profitable, you should avoid increasing your capital investment. This can help prevent significant losses caused by blind overconfidence.
7. Long and Short Operations: Switching from long to short positions requires high judgment and market insight. Unless there are clear signals of market changes, it is not advisable to easily adjust the position direction.
8. Cautious Scaling Up: Even if you are accustomed to market fluctuations and can trade skillfully, any increase in investment should be approached with caution, as excessive confidence may cloud risk perception.
Insights on Trading Cryptocurrencies in Europe: How to Achieve Steady Success?
Three years of trading cryptocurrencies, from 10,000 to 10 million: sharing insights on how to achieve steady success.
Over the past three years, I turned an initial capital of 10,000 into 10 million, a journey full of challenges and experiences. Here are some key insights I've summarized, hoping to inspire everyone:
1. Capital management is the cornerstone of success Divide your funds into five parts, using only one-fifth at a time, and set a strict stop-loss line—each trade should not exceed a 10% loss, and total capital loss should be controlled within 2%. Even if you make five consecutive mistakes, the total loss will only be 10%, but once you seize an opportunity, the profits often easily cover the losses.
2. Follow the trend, don't go against the flow • Don't rush to catch the bottom during a decline; most of the time, it's a trap to lure buyers. Patiently wait for clearer signals. • Don't rush to sell during an uptrend; this could be a “golden pit,” and buying low is often more stable and reliable than trying to catch the bottom.
3. Stay away from coins with short-term surges Whether mainstream coins or altcoins, coins that continuously surge are rare, and most will fall into stagnation or even correction after a spike. Don’t hold onto the illusion of betting on miraculous high-position surges.
4. Make good use of technical indicators • MACD is a practical tool: when the DIF line and DEA line cross upwards below the zero axis and break through it, consider buying; conversely, when they cross downwards above the zero axis, consider reducing your position. • Have a principle for adding positions: never add to a losing position; only increase your position when you are in profit, otherwise, you may fall deeper into losses.
5. Trading volume is the soul of the coin market • Pay attention to low-level volume breakthroughs, as this is an important market signal. • Stick to trading coins in an upward trend, observing the 3-day, 30-day, 84-day, and 120-day moving averages; an upward turn often indicates a confirmed trend.
6. Review and strategy adjustment After each trade, review the transaction, reassess the logic of your positions, and flexibly adjust your operational strategies based on the weekly K-line trends.
Technical analysis shows that the Bitcoin daily chart has closed with a bearish candle again. After the price pierced the lower Bollinger Band, it quickly rebounded. In the morning, after the price rebounded above 95,000, it continued to move downward. The Bollinger Bands have slightly opened, and both KDJ and MACD show signs of a death cross. The overall trend on the daily chart is bearish, but there are suspicions of a bottom forming as it approaches the closing line! From the four-hour perspective, the Bollinger Bands are widely opened, and the price is running near the lower band. However, after piercing the lower band, the price quickly rebounded. There was a shift from bearish to bullish in the morning, with KDJ turning upwards to form a golden cross, and the volume of MACD is also beginning to slow down. From the four-hour perspective, there are suspicions of a bottom forming, and everyone should avoid blindly chasing short positions.
This is what a cryptocurrency trader should watch!
Master these points and you will be in the cryptocurrency circle like a fish in water!
1. If your initial capital is not very large, such as less than 10w, it is enough to catch a big fluctuation every day. Don't be greedy and hold positions at all times!
2. If you don't ship on the day of a major positive news, remember to sell it at a high opening the next day. The realization of good news is often bad news.
3. News and holidays are also very important. When encountering major events, you should make adjustments in advance (reduce positions or even go short). According to the past, whenever there is a major event, the market will inevitably usher in major fluctuations. If you can't grasp the direction in advance, then wait for the market to come and follow the trend!
4. The medium and long-term strategy must be to enter with a light position, leave enough operating space, and operate steadily. Don't operate with a heavy position.
5. Short-term trading focuses on following the trend, entering and exiting quickly, and it is forbidden to be greedy and hesitant. Find a suitable point to enter the market when the market fluctuates greatly. If the market is not active, then go short and wait patiently.
6. If the market fluctuates slowly, the rebound will naturally be slow. If the market fluctuates quickly, the corresponding callback will also be fast!
7. If you enter the wrong point direction, stop loss in time (do not hesitate to carry the order). Stop loss is a disguised profit. Keeping funds is the basis for market survival.
8. You must look at the 15-minute K-line chart for short-term trading. According to the KDJ indicator, you can better capture the appropriate entry position
9. There are thousands of techniques and methods for speculating in coins. The most important thing is the mentality. A person's mentality is very important. The coin circle can easily make you feel the ups and downs, so adjust yourself. A good mentality has surpassed most people in the coin circle.
Everyone must remember that only by allowing Yingli to timely Luodai and holding real gold and silver firmly in hand can we truly harvest the results of our efforts. Let us work together to steadily seize this wave of opportunities and reap the victory that belongs to us.
The password to counterattack in the cryptocurrency circle!!
First, you need to be cautious when you stop losses and chase gains. When there is a sudden sharp drop in the early trading, do not rush to stop losses in a panic. This situation is likely to be an excessive market reaction caused by the bad news the night before. You might as well keep your mind steady and patiently wait for the market to repair itself and usher in an opportunity for a reversal. If there is a sharp rise at the end of the trading, you should not be blinded by victory and chase gains blindly. You must know that some major players may just be testing the market reaction or deliberately inducing more buying at this time, and they will often use a low opening to suppress the trend to absorb funds the next day.
Second, trading volume is a hidden secret. Trading volume is undoubtedly the key to grasping the pulse of the market, just like a compass in navigation, guiding the direction. When the market shows a trend of shrinking volume and rising, it shows that the main force has a high degree of control over the situation and has a strong ability to control the market; on the contrary, if it encounters a shrinking volume and falling, it means that panic selling has not yet reached its peak, the market freezing point has not yet been reached, and there is a high probability that it will continue to fall.
Flowers bloom towards the sun, and people move forward. Don't stand in the fog, don't be obsessed with meaningless people and things, just make money, everything else is vulgar.
No Fear Before Sleep In the past two days, the troops have been washed, still the same words It's cold and the roads are slippery, brothers don't force it if you can't handle it.
Trading cryptocurrencies for a year and still not hitting 7 figures? Let me teach you!
If you've been trading cryptocurrencies for a year and haven't made 7 figures yet, don't worry. Here are 10 super practical tips. If you follow them and still can't make money, come find me! I sincerely hope this helps everyone:
1. Don't take risks with little money. If you have less than 200,000 on hand, just wait for a big price surge once a year. Don't always think about putting all your money in; otherwise, you could easily lose everything.
2. We need to understand how much we know about the crypto world, as it determines how much money you can make. Practice on a demo account to build your confidence and mindset. Losing a few times on a demo account is fine, but if you mess up in a real account, you might get kicked out of the market.
3. Good news often turns into bad news. When major good news comes out, don't rush to sell on the same day. However, if the price opens high the next day, act quickly and sell; don't hesitate.
4. Be cautious when trading during holidays. A week before the holiday, consider selling or even clearing your positions, as the market often drops during holidays.
5. For medium to long-term trading, the key is 'rolling operations'. Keep some cash on hand; sell a little when prices rise and buy a little when they fall, rotating your positions this way.
6. For short-term trading, focus on trading volume and patterns. Choose those currencies with significant price movements and active trading; avoid those that are unpopular and stagnant.
7. Look at the speed of the market trend. If the drop is slow, the rebound will also be slow; if the drop is fast, the rebound may also be quick.
8. Making mistakes is not scary, but you must cut your losses in time. Protecting your principal is essential to continue playing in the market; if you lose your principal, you lose everything.
9. For short-term trading, check the 15-minute candlestick chart and combine it with the KDJ indicator to find the right buying and selling opportunities.
10. You don't need to master all trading techniques; being proficient in a few is enough. There's no need to learn every technique; just mastering a few methods will be sufficient to navigate the market.
In any case, trading methods and mindset are important; the key is to have execution! Remember these tips before you start trading!