I am a purely left-side trader; the contract itself is about making big profits from small investments. I started with 10u, and after making 300u, I ended up getting liquidated. At that time, I was doing right-side trading without knowing anything, only chasing highs and cutting losses. However, the fluctuating K-lines would break my psychological state, and later, due to chaotic operations, I faced liquidation.
I realized that technical skills are also very important, so I began to learn. I no longer believe in posts from forums or those who show off their trades with pictures.
From my personal summary, having a strong mindset is just as important as technical analysis. (Even if your stop loss is hit, do not infinitely expand the stop loss range; it will only lead to greater losses.) There are many opportunities in this market; we need to learn to wait.
I want to share my strategy, hoping it will help some friends who feel confused. Of course, one needs to learn and comprehend it by themselves.
Firstly, I use multiple indicators to predict entry points. If I have enough time, I will wait for the entry signal. If I need to sleep or rest and I am extremely confident in my judgment, I will place a limit order (I must set a stop loss of 1.5%-3%). Do not always worry that your stop loss will hit and result in a loss; instead, think that if your judgment is wrong, the stop loss will help reduce your losses.
I will look for direction and key points on a larger scale. First, I will look for key support and resistance levels. Then, I will use Fibonacci to determine key retracement points; I will provide an example below.
If a coin surges, I will first mark the support and resistance levels. I will use Fibonacci to find 0.618 and 0.786, combined with analysis. This is not my entry signal; the key is to use the MACD on a larger scale to determine if there’s a possibility of a change in market momentum.
I will not trade coins that are rising because I am a left-side trader. Every day, I look for pullbacks and coins that have been consolidating for many days. (With coins in consolidation, you don’t know when they will surge, but you can achieve 20%-40% contracts with 75x leverage from the oscillations.)
Once you have technical analysis for comparison, the most important thing is execution. Do not enter positions at support levels that are not crucial; when you reach your target position, you must set a stop loss. Never change any targets manually without a stop loss! The stop loss can be calculated using the ATR average value. I advise everyone that the market is very harsh; do not blindly follow others. Improving oneself is the long-term strategy. I hope this helps everyone. If you like contracts, enjoy studying charts and technical analysis, click on my avatar; I have years of experience and skills in the crypto space and will share them freely. I'm here in the community, online anytime, welcome to discuss and progress together.