Trading cryptocurrency has been up for a year, and you still haven't made 7 figures? Don't worry, here are 10 super practical tips. If you follow them and still don't make money, come find me! I sincerely hope this can help everyone:
1. Don't act rashly with little money. If your available funds are less than 200,000, just aim to catch a significant price surge once a year. Never think about going all in; otherwise, you might easily lose everything.
2. Understand how much you know about the crypto world, as it determines how much you can earn. Start with a demo account to practice your courage and mindset. Losing a few times on a demo account is fine, but if you mess up in real trading, you might just get kicked out of the market.
3. Good news often turns into bad news. When major positive news comes out, don't rush to sell on the same day; however, if the next day opens high, sell quickly—don't hesitate.
4. Be cautious trading during holidays. A week before the holiday, consider selling some or even clearing out your position because 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 bit when the price goes up and buy a bit when it goes down—keep rotating your positions.
6. For short-term trading, focus on trading volume and patterns. Choose those cryptocurrencies with significant price fluctuations and active trading; avoid those that are dull and inactive.
7. Pay attention to the speed of the market. If it’s a slow decline, the rebound will also be slow; if it’s a fast decline, the rebound might be quick as well.
8. Making mistakes isn’t scary; the key is to stop losses in time. You need to preserve your capital to continue trading in the market—once your capital is gone, you have nothing left.
9. For short-term trading, look at 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. You don’t need to learn every trick; understanding a few methods thoroughly is sufficient to navigate the market.
In any case, the methods and mindset for trading cryptocurrency are important, but the key is to have execution power! Remember these before trading cryptocurrency!
Additionally, I’ve recently set my sights on a potential coin on the Ethereum chain, Elon Musk's dog p͜͡u͜͡p͜͡p͜͡i͜͡e͜͡s͡, which is rumored to possibly take off this year. Fellow traders can prepare in advance.