In this mysterious field of opportunities and challenges in the cryptocurrency space, some become rich overnight while others lose everything.
When you grow from tens of thousands to hundreds of thousands, you will touch upon some thoughts and logic for making big money, and your mindset will stabilize significantly.
After that, continuously replicate successful experiences.
Don't always fantasize about millions or even a billion; start from your own reality. Don't talk empty; after all, bragging only makes the bragging person comfortable.
I used the simplest method to easily withdraw more than twelve million in the cryptocurrency space. The principle is always simple. If you complicate trading, the more factors you consider, the less accurate your judgment will be.
Those who lose money trade cryptocurrencies like this. To profit, it's actually quite simple: just find a method that suits you and that you are good at, and repeat it. Before you know it, your account balance will increase.
Below, I will share a few key phrases. As long as you can learn them, it's not a problem to earn some pocket money, even if you can't multiply your investment by dozens or hundreds of times like I did.
First, wait for the highs and lows to stabilize. When the market is in a sideways consolidation, it's best to observe for a while because after consolidation, there will be a change. Once a clear market trend appears, it’s best to act.
Second, do not become overly attached to hot positions; constantly change your holdings. From beginning to end, it should all be in the air. All popular short positions are speculative. Once the hype passes, funds will immediately exit, and if you’re slow, you’ll be left alone in a chaotic situation.
Third, a large gap up indicates hope for a price increase. When the K-line rises slowly, showing a bullish opening candle with increased volume, it indicates that the market is entering an acceleration phase. At this point, we must remain calm and hold our positions; what awaits you next will be a big profit.
Fourth, do not become overly attached to large bullish candles. Exit decisively at the end of the trading day; regardless of whether it's at a high or low point, when a large bullish candle appears, there will be a pullback. Even if it's a limit-up, you should exit, as we need to prevent profit loss.
Fifth, if you buy on a bearish line online, you must also buy on a bullish line offline; if you sell mistakenly, you must still sell. Here, 'line' refers to moving averages or important support and resistance levels. Short-term traders generally only look at daily moving averages and daily attack lines. I don’t like to drag things out; I usually only hold for three days at most, not exceeding one week. Even if things improve later, it’s no longer my concern.
Sixth, do not chase highs, do not sell, do not jump into the water, do not buy, remain stagnant. This can be considered a basic principle for survival in the cryptocurrency space. If you want to survive for a long time in this field, you must remember this phrase well.
Seventh, when buying, be prepared. It’s better to invest less than to invest too much. No matter how confident you are, you cannot invest all your funds at once because in the cryptocurrency market, the only constant is change.
Eighth, learn to analyze news and interpret market information. When significant news comes out, it’s usually when cryptocurrency prices are most volatile. They could surge or plummet, requiring traders to make judgments. For beginners, it's recommended to take a wait-and-see approach during major news events.
Ninth, learn to analyze the technicals, master technical indicator knowledge. Learning technical indicators requires long-term accumulation. Make a study plan for yourself to learn about moving averages, KDJ, Bollinger Bands, candlesticks, volume-price, fund flow, etc.
Tenth, make a good trading plan. Don’t trade frequently. Frequent trading not only incurs high fees but also affects your trading mindset, causing you to lose rational judgment.
Eleventh, practice good risk control. When trading, set stop-loss and take-profit points to control risks, keeping both profit and risk within acceptable limits. When the price reaches the stop-loss or take-profit point, the system will automatically assist me.
Toxic Brother has been navigating the market for many years, deeply aware of the opportunities and traps within. If your investments are not going well and you're unhappy about your losses, you might want to pay attention.
