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For those who have been trading cryptocurrencies for over a year and haven't made 1 million, if you still can't make money after reading these 10 key points, come find me.
After more than 10 years of cryptocurrency trading, here are ten key points summarized:
1. If your capital is not very large, such as within 200,000, catching a major uptrend once a year is enough; never keep a full position at all times.
2. One can never earn wealth beyond their understanding; first practice with a simulated account to develop your true mindset and courage. You can fail an unlimited number of times in a simulated account, but a single failure in real trading could mean everything, and you might distance yourself from the market thereafter.
3. When encountering significant positive news, remember to sell the next day if you haven't sold the same day; the realization of good news often turns into bad news.
4. During major holidays, reduce your position or even go to cash a week in advance; historically, holidays tend to see declines.
5. A medium to long-term strategy is to keep enough cash on hand, sell when the price rises, and buy back when it falls, rolling your positions is the best approach.
6. Short-term trading mainly looks at volume and patterns; actively trade in patterns with significant ups and downs, avoid those that are inactive.
7. A slow decline tends to lead to a slow rebound; an accelerated decline will lead to a quick rebound.
8. Acknowledge when you make a wrong purchase, cut losses in time, and protect your principal; this is fundamental to survival in the market.
9. For short-term trades, always look at the 15-minute candlestick chart; using the KDJ indicator can help find good buying and selling points.
10. There are countless techniques and methods for trading cryptocurrencies; mastering just a few well is sufficient; do not be greedy.
After more than 10 years of cryptocurrency trading, here are ten key points summarized:
1. If your capital is not very large, such as within 200,000, catching a major uptrend once a year is enough; never keep a full position at all times.
2. One can never earn wealth beyond their understanding; first practice with a simulated account to develop your true mindset and courage. You can fail an unlimited number of times in a simulated account, but a single failure in real trading could mean everything, and you might distance yourself from the market thereafter.
3. When encountering significant positive news, remember to sell the next day if you haven't sold the same day; the realization of good news often turns into bad news.
4. During major holidays, reduce your position or even go to cash a week in advance; historically, holidays tend to see declines.
5. A medium to long-term strategy is to keep enough cash on hand, sell when the price rises, and buy back when it falls, rolling your positions is the best approach.
6. Short-term trading mainly looks at volume and patterns; actively trade in patterns with significant ups and downs, avoid those that are inactive.
7. A slow decline tends to lead to a slow rebound; an accelerated decline will lead to a quick rebound.
8. Acknowledge when you make a wrong purchase, cut losses in time, and protect your principal; this is fundamental to survival in the market.
9. For short-term trades, always look at the 15-minute candlestick chart; using the KDJ indicator can help find good buying and selling points.
10. There are countless techniques and methods for trading cryptocurrencies; mastering just a few well is sufficient; do not be greedy.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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