After 8 years of navigating the cryptocurrency space and experiencing countless ups and downs, my assets are now stable in the seven-figure range. Today, I have decided to share some of my insights, hoping to help you who are currently striving.
The safety of funds is the top priority. I am used to dividing my funds into five parts, using only one part for risky ventures at a time, so even if I make a mistake, it won't be catastrophic.
Stop-loss and take-profit are equally important. Once the direction is wrong, decisively stop-loss; even after five mistakes, the total loss will only be 10% of the total funds. And once you're correct, promptly set a take-profit, don't let the profits slip away. Going with the trend will naturally increase your win rate.
Trends are your friends. Don't rush to buy the dip when the market is falling, and don't be afraid to chase the price when it's rising. Rebounds in a downtrend are often traps, while pullbacks in an uptrend are opportunities. Those cryptocurrencies that surge in the short term may seem attractive, but they often struggle to sustain.
Technical indicators are auxiliary tools. MACD can help you judge entry and exit points, especially during high price stagnation, which is often a precursor to a downturn.
Be cautious with the timing of averaging down. Don't average down when you're at a loss, as it will only deepen your predicament. Increasing your position when you are in profit is a wise move.
Trading volume is the soul of the market. A breakout with high volume at a low level is an opportunity, while high volume stagnation at a high level is a risk signal. Only trade in cryptocurrencies that are in an upward trend for a higher chance of success.
Moving averages are the compass of trends. From short-term to long-term, observing the turning points of moving averages across different periods can help you better grasp the trend.
Reviewing trades is a step towards improvement. Regularly review your trades, check your holding logic, and adjust your trading strategies to navigate the cryptocurrency space with ease.
If you like contracts, enjoy studying charts, and researching techniques, click on my profile. I will share my years of experience and tips in the cryptocurrency space for free. I am waiting for you in the community, always online, welcome to discuss and improve together.