Trading cryptocurrencies for 7 years, going from a loss of 3 million to a profit of 10 million, my personal nine iron rules in use!
Iron Rule 1: Understand market sentiment; trading volume is key
- Volume increase without price drop: Increased trading volume but no price drop may signal a bottom.
- Volume increase without price rise: Increased trading volume but no price rise may indicate a short-term peak.
- Rising needs sustained volume: During an upward trend, trading volume should steadily increase; if it suddenly decreases or spikes, the uptrend may end.
- Key volume level during a drop: When prices drop, if key levels break with increased volume, the downtrend may continue.
Iron Rule 2: Key levels determine buy and sell
- Resistance level, support level, trend lines: Act swiftly when prices reach these levels!
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- Fibonacci retracement: I use it to predict resistance and support, and it works very well. Leave 167 on c
Iron Rule 3: Monitor multiple time frames
- 1-minute chart: Look for entry and exit opportunities.
- 3-minute chart: Monitor the wave situation after entering.
- 30-minute/1-hour chart: Determine intraday trend changes.
Iron Rule 4: Don’t rush to recover after a stop loss
- Stop loss = end of the trade: Each trade is a new beginning; don’t let previous trades affect your mindset.
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Iron Rule 5: Simple and practical position management method #特朗普暂停新关税
- Three position method:
1. Buy the first portion when the price breaks above the 5-day moving average;
2. Buy the second portion when breaking above the 15-day moving average;
3. Buy the third portion when breaking above the 30-day moving average.
- Strict stop loss: Sell the first portion if it drops below the 5-day moving average; sell the second portion if it drops below the 15-day moving average; liquidate if it drops below the 30-day moving average!
Iron Rule 6: Have a strategy for selling
- Breaking below the 5-day moving average at a high: Sell one portion first, observe subsequent trends.
- Breaking below the 15-day and 30-day moving averages: Sell everything without hesitation!
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Iron Rule 7: Increased positions with stagnation in price increases/decreases is a signal
- Increased positions with stagnation in price increase: Price is not rising, and positions are increasing; this may be a short-selling opportunity.
- Increased positions with stagnation in price decrease: Price is not falling, and positions are increasing; a rebound may be imminent.
Iron Rule 8: Focus on one asset
- Periodic focus: Trade only one asset for a period, continuously track it until it no longer has speculative value.
Iron Rule 9: Opportunities are always there; don’t rush to recover losses
Old Cai’s 100% win rate may not guarantee 80-90, but it’s still possible; don’t hesitate, leave 167 on c👈#加密货币总市值重回3万亿