Sharing My Cryptocurrency Experience and Insights
Over the years of investing in cryptocurrency, I have accumulated approximately **12 million in profits**, with a principal of less than 90,000. Looking back on my seven-year journey of full-time trading, the real opportunities to make big money mainly came from two bull markets. Here, I summarize a few key insights that I hope can help everyone:
1. **Risk Control**: Keep the risk of each trade within 10% of the principal. For beginners, it is recommended to keep it within 2%-5%.
2. **Patience in Holding Positions**: After entering the market, avoid closing positions due to short-term fluctuations or impatience. The market needs time to validate, and patience is key.
3. **Strictly Follow the Plan**: Execute trades according to the plan and avoid overtrading, as it can lead to mistakes.
4. **Gradually Adjust Take Profit and Stop Loss**: After making a profit, adjust take profit and stop loss according to market trends to maximize returns.
5. **Stop Loss Cannot Be Canceled**: Never cancel stop loss points under any circumstances; effectively controlling risk is fundamental.
6. **Avoid Arbitrarily Adding Positions**: Even when the market is performing well, do not add positions arbitrarily; greed often brings greater risks.
7. **Be Cautious When Switching Positions**: Transitioning from long to short requires a very high level of skill, and random operations are not recommended.
8. **Confidence Must Be Moderate**: Even if trading feels easy, do not easily increase positions; excessive confidence often leads to mistakes.
Throughout this journey, I have experienced quite a bit of volatility, and these insights have been summarized from practical experience. I hope they can be helpful to you.