Can't make 1 million in a year from trading cryptocurrencies? These 10 practical experiences will help you break through the bottleneck!
1. Small funds, steady progress
If your principal is within 200,000, catching a main upward wave once a year is enough. Avoid frequent full-position trading, as it consumes energy and may not yield expected returns.
2. Knowledge determines wealth
First, practice your mindset and trading skills on a simulated account; simulated trading allows for constant trial and error, but real trading mistakes can lead to painful losses.
3. Good news brings bad news
After the release of significant good news, remember not to sell on the same day; wait until the next day's opening high to sell, avoiding missing the selling opportunity due to greed, which could lead to being trapped.
4. Holiday market: Better to miss than to make a mistake
Reduce your position or close it a week before holidays, as holiday market fluctuations are larger and the probability of a decline is higher.
5. Core strategy: Rolling operations
Keep a certain amount of cash on hand to operate flexibly with market fluctuations, reducing positions when the rise is large and buying low when the drop is significant, continuously rolling to lower your holding costs.
6. Short-term trading: Focus on trading volume and K-line patterns
Only participate in cryptocurrencies with significant volatility and sufficient trading volume; avoid dead or niche coins.
7. Judging the rebound timing based on the speed of decline
If it falls slowly, it rebounds slowly; if it falls quickly, it rebounds quickly. Learn to use this rule to seize short-term opportunities.
8. Admit mistakes and cut losses decisively
The safety of your principal is the most important; learn to cut losses in a timely manner to avoid being obsessed with “breaking even” and to minimize losses.
9. Essential for short-term trading experts: 15-minute K-line
Combine with the KDJ indicator to accurately determine buy and sell points, increasing the chances of success in short-term trading.
10. It's not about having many techniques; mastering a few is the key
Additionally:
The Trump concept meme coin I’ve been following lately—CONAN (xBQt)
📌 After launching on January 24, it skyrocketed a hundred times, becoming a dark horse in the meme coin space!
📌 Current market cap is about 7 million, price is stable, suitable for positioning at the bottom!
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