There is only one type of person who gets rich by speculating in cryptocurrencies. They all have a clear operating system when they enter the market:
(1) How much money are you prepared to make in this market trend? It takes an hour to walk from the first floor of the Empire State Building to the top floor. But if you jump from the top floor, you can get back to the bottom floor in just 30 seconds.
(2) How much loss can I accept at most? If the market retreats, I must exit immediately. No matter how many 100% excellent performances you have had in the past, if you lose 100% now, you will be left with nothing.
(3) I must take a few percent of the profit earned from each operation.
(4) Gradually increase the position to avoid full position trading. As the profit rises, continuously increase the profit stop loss position, and never let the profit you already have turn into a loss.
(5) Always give yourself another trading opportunity and operate strictly according to your own trading system.
(6) When the trend comes, respond to it and follow it. When there is no trend, observe it and stay calm.
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