Can you get rich overnight in the cryptocurrency world?
A dear old friend of mine has been navigating the cryptocurrency world for 7 years, using the most "foolish" method to grow his principal from 500,000 to over 50 million!
He is 42 years old this year, from Shanghai, and lives a very ordinary life: 5 houses, 1 for himself, 1 for family, and 3 for rent. After 7 years of trading cryptocurrencies, he multiplied his principal by hundreds of times, not relying on insider information or luck, but by adhering to a simple set of principles.
Today, I will share his experience, which may help more crypto enthusiasts:
His profit method is not complicated but highly effective, especially suitable for doubling small funds. I have summarized it as "Five-Step Batch Method."
Turning 10,000 into 100,000 is not difficult: Ordinary people trading cryptocurrencies do not need "insider" information or "predictions"; with discipline, one can make a profit using this method, which is adaptable to various principal amounts:
1. Split the funds into 5 parts, reject "all in"
Divide the total funds into 5 equal parts (for example, splitting 10,000 into 5 parts of 2000 each), use only 1 part each time, leaving the rest untouched—this prevents impulsive decisions from the root, and losses on a single part do not affect the safety of the principal.
2. Test with 2000, new traders use low leverage
Choose cryptocurrencies that you are optimistic about for spot trading, and new traders should avoid leverage/contracts. The fluctuations in spot trading are sufficient for small funds to double, so start with practicing your mindset.
3. Buy more when it drops by 10%, reduce cost and pressure
After buying, if it drops by 10%, add another 2000; this reduces the average cost by 5%. If it rebounds by 5%, you will break even, reducing the risk of getting stuck in deep losses.
4. Take profit on half when it rises by 10%, lock in profits without being greedy
When it rises by 10%, sell half (for example, if 2000 rises to 2200, sell 1000). Even if the remaining position drops back, you have still made 100, achieving "zero-cost gambling."
5. Cycle operations, let profits roll in
The profit from taking profits (such as 100 in profit + 1000 in principal) becomes the new "2000", find new cryptocurrencies to repeat the "testing - adding positions - taking profits" process. It’s not difficult to multiply your operation by 5-10 times in a year with 10,000; the key is to be satisfied with earning 10% each time.
The elder said: "The cryptocurrency world is not lacking in quick profit opportunities, but lacks people who can preserve their money." Many people lose money because of "greed" and "impatience," turning good methods into "losing patterns."
If you have a small principal and don’t know how to start, or if you lose money due to emotional trading, you can try this method—there’s no need to understand candlestick patterns or stay up all night watching the market; just stick to the discipline to see your account grow.
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