My tearful self-reflection after losing 8 million in debts: I realized one truth, there is only one type of person who makes money in cryptocurrency trading! In the crypto world, one day is like a year in the stock market; those who get into crypto trading will no longer be interested in stock trading. The all-day trading and unlimited price fluctuations fulfill many people's dreams of getting rich overnight, which is one of the reasons why cryptocurrencies are so popular. It's also common to experience losses in the crypto world. Every investor who comes into the crypto space will go through major losses, liquidation, and the experience of turning profits into losses. Among the army of crypto traders, only one type of person makes money: those who have experienced bankruptcy and then summarized their experiences with a strong mindset. If you haven't experienced liquidation or significant losses, you will never know what stop-loss means; if you haven't experienced turning profits into losses, you will never understand the mentality shift from heaven to hell.
There is a clear operational system when entering the market:
(1) How much money do I plan to make in this market trend;
(2) What is the maximum loss I can accept, and if the market pulls back, how much loss will force me to exit immediately;
(3) I must secure a portion of the profits from each operation;
(4) Gradually increase positions to avoid full position trading, continuously raising profit stop-loss levels as profits increase, never letting the profits I already have turn into losses.
(5) Always give myself another trading opportunity and strictly operate according to my trading system.
Crypto newbies are getting cut every day; how can one steadily grasp the "bull market opportunities"?
To seize the upcoming bull market, you must remember the ten iron rules below to catch the forthcoming opportunities. Reading this will definitely give you a clearer direction!
1. Don't let floating profits turn into losses. Once you have more than three points of floating profit, set a protective stop-loss near the opening price, and never lose the principal. In the crypto world, it's easy to rise more than three points, especially with small altcoins. At this point, you can slightly enlarge your take-profit level and adopt a trailing stop-loss, especially during a bear market; it is essential to take profits frequently to protect your gains. Normal people can't stand the feeling of floating profits turning into floating losses, going from joy to despair. Those with weak mental strength cannot bear it; emotions are easily influenced, which can affect your decision-making ability, leading you to make some foolish decisions, and when you wake up from the daze, you find your account balance has also sobered up, regretting it too late.
2. Don't make small profits with large losses! It's like playing blackjack; today I go in with 100 or 200 chips and win 500, I’m satisfied and retreat. The next day I win another 500 and retreat again, feeling pleased. But by the third day, things don't go so smoothly, I go in and lose 500. Unwilling to accept it, I continue to gamble, thinking I want to recover my losses; I bet 500 and end up losing 1000. The profits from the previous two days are gone, and feeling dissatisfied, I continue to gamble, tossing around 500 and 1000 chips, and end up losing tens of thousands. This is a typical case of winning a little and losing a lot. 2. Embrace the trend, go with the flow. The price at which you buy isn't about being the lowest, but about being the most suitable. You won't gain an advantage just because you bought at a low price; the market can drop indefinitely, so abandon junk coins; the trend is king.
3. In the speculative market, being adaptable is the most incorrect approach. Use your fixed trading system and respond to changes without change; it’s not about using ten thousand methods, but using one method ten thousand times. Being static is the best defense; often when you are most reluctant, that's when you make the most mistakes. Understand this seriously!
4. Patience is the foundation of making money. You may need to learn for a long time and be deceived countless times to understand the situation in the crypto world. It's okay; cherish every experience of being deceived; these are lessons on the investment journey.
5. When the price enters a stable upward channel, every pullback is a temporary stop, a good opportunity for us to get on board. No cryptocurrency rises indefinitely; pullbacks are like compressed springs, preparing to jump higher. 6. Manually judged bottoms are generally not the true bottoms but halfway up the mountain. The formation of a true bottom depends on observing emotions and capital, so never blindly bottom fish; often, 9 out of 10 attempts to catch the bottom end up being trapped.
7. When holding a position with profit, close the position once you reach your psychological level, don’t aim to take it all. Also, pay attention to position size and leverage control; learn to strictly manage your position based on the leverage of the products you are trading in conjunction with your own capital.
8. Use moving averages: Short-term operations generally refer to the five-day, ten-day, and twenty-day moving averages. When the five-day moving average crosses above the ten-day and twenty-day moving averages, and the ten-day crosses above the twenty-day, it's called a golden cross, indicating a buying opportunity; conversely, it’s a death cross, indicating a selling opportunity.
9. A poor mindset in crypto trading means that even if you have millions, you can still end up with nothing. Trading in crypto is all about mindset. Crypto trading is a psychological game, a contest of intelligence among millions, a fierce psychological battle.
10. Finally, of course, keep learning about crypto investment knowledge, enrich yourself, and summarize every day. As the saying goes, practice is the only standard for testing truth; only through a lot of real trading can you truly consider yourself a beginner in crypto trading.
Three iron rules for crypto trading, remember!
1. Never chase high prices; remain calm when the market is in FOMO.
When others are scrambling, you should remain steady and quietly buy when the market is panicking and falling. Smart people always hide in low positions rather than catch high positions.
2. Be flexible in your operations; don’t let heavy positions trap you.
The crypto market changes rapidly; don’t put all your bets on one hand. Leave yourself room for adjustment; there are always more than one opportunity.
3. Full positions are a sign of a novice.
A full position blocks your retreat, creating huge risks. There are countless opportunities in the market; diversifying positions is being responsible for your own capital.
Several key tips; if done well, you can steadily make money!
Don't act hastily when the price is sideways.
Many people can't stand the loneliness of sideways trading; as a result, they lose as soon as they act. The sideways period tests patience; only by being calm can you hold onto profits.
Pay special attention to key ranges.
If the price has been consolidating at high or low levels for a long time, it is often a prelude to a big market trend. Don't rush; wait for the opportunity to come.
Build positions steadily, like stacking a pyramid.
Don’t try to eat everything at once; enter the market in batches and gradually increase your bets, which can spread out risks and stabilize your mindset.
Adjust your strategy during market surges and drops.
Don’t heavily buy at highs, and don’t blindly bottom fish at lows. The market changes rapidly; you must follow the rhythm and not let emotions dictate you.
These days, I am preparing for the upcoming strategic layout!!!
Comment 777 to get on board!!!
Impermanence brings impermanence brings impermanence!!!
