Why some people lose everything trading cryptocurrencies
I have accumulated about 40 million from the crypto world, starting with less than 60,000 in capital. For 9 years, I have not looked for another job, trading cryptocurrencies full-time, and during this time I have experienced
severe market fluctuations, but the key was seizing a few bull market opportunities.
1. The risk of each trade should be controlled within 10% of the capital, especially for beginners, it is best to keep it between 2%-5% to ensure that you do not lose everything on a single trade.
2. After entering the market, you must never close positions early due to short-term fluctuations or lack of patience. The market needs time to ferment; patiently wait for the market to validate
your strategy.
3. Every trade must be executed according to the plan; overtrading only increases the possibility of mistakes.
4. After making a profit, adjust stop-loss and take-profit levels to secure gains, continuously follow market trends until a trend reversal is detected.
5. Setting stop-loss points is key to trading; do not casually cancel stop-loss orders, and stick to risk management after entering the market.
6. Avoid greedily increasing positions when the market is favorable, as this can easily lead to a break in the capital chain.
7. Transitioning from long positions to short positions requires extremely high trading skills; beginners should not attempt this lightly.
8. When trading is going well, remain cautious and avoid casually increasing positions, or you may fall into the trap of complacency. This set of trading principles has helped me
navigate the crypto world steadily, avoiding many unnecessary risks.
Do not worry about whether you can learn this; if I can seize these opportunities, you definitely can too. I am not a god, just an ordinary person.
The only difference between me and others is that others overlook this one method.
