🛑I LOST A LOT OF MONEY IN CRYPTO...💰 ...but after a lot of struggle and learning, I managed to flip the coin and drive amazing profits. Here are 8 golden rules that helped me make bank with crypto:
📉💼 1. DIVIDE & CONQUER: Split your funds into 5 parts and invest only one-fifth each time! Keep a tight leash with a 10-point stop loss. Mistakes are inevitable, but with this strategy, you'll only risk 2% of your total funds per trade. Set a stop profit of more than 10 points to avoid getting trapped.
📈💰 2. FOLLOW THE TREND: Improve your winning rate by following the trend! Buying on rebounds in a downward trend may seem tempting, but it's often better to wait for declines in an upward trend.
🚀📉 3. AVOID SHORT-TERM HYPE: Steer clear of coins that have skyrocketed in the short term. Whether mainstream or copycat, few coins sustain multiple waves of rising trends. Don't gamble on these volatile movements.
📊🔄 4. MACD INDICATORS: Use MACD to time your entry and exit points. A golden cross below the 0 axis signals a steady entry, while a dead cross above the 0 axis suggests reducing positions.
📈💔 5. AVOID AVERAGING DOWN: "Covering positions" can lead to heavy losses. Resist the urge to double down when you're losing; instead, increase positions when profitable. Don't dig yourself into a deeper hole.
💹📈 6. WATCH THE VOLUME: Volume and price indicators are crucial. Pay attention to large-volume breakthroughs at low consolidation levels and exit decisively when high levels show stagnation.
📈⬆ 7. RIDE THE UPTREND: Stick to currencies with upward trends to maximize your chances of winning. Watch for key indicators like the 3-day, 30-day, 84-day, and 120-day moving averages to gauge the direction of the market.
🔄📝 8. WEEKLY REVIEW: Consistently review your holdings and adjust your strategy accordingly. Check for any changes in logic, technical trends, and market direction.
👉 Follow @Professor Mende - Bonuz Ecosystem Founder 🇦🇪
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