In the cryptocurrency world for ten years, I went from a few hundred thousand in capital to now relying on trading to support my family. Along the way, I have experienced many ups and downs.
Today, I am sharing the experiences and lessons from these years with you, hoping to give you some inspiration.
Firstly, money management is very important. I divide my funds into several parts and only invest a small portion each time. This way, even if I make a wrong judgment, it won't be a devastating loss.
Secondly, it's important to set a stop-loss point. Once it reaches that point, be decisive and walk away, don't hesitate. Also, go with the trend. When prices drop, a rebound might be a trap; when prices rise, a pullback might be a good buying opportunity. Follow the market and don't go against the trend.
Be cautious of those short-term surges. They carry high risks, and if you miss the best buying opportunity, it can lead to being stuck at a high price. Instead, look for those steadily rising cryptocurrencies with great potential. Although they may not make you rich overnight, they are stable.
During trading, technical indicators should also be utilized. MACD and price-volume relationships are what I commonly use. They help me better grasp the market rhythm and find the best entry and exit points.
Persist in reviewing and reflecting on trades daily to continuously optimize strategies. Don't follow the crowd; find a method that suits you, so you can stand firm in the cryptocurrency world.
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