To my friends who have been trading cryptocurrencies for years without making a million... here are 10 golden tips:
1. Do not risk everything if your capital is small!
One good opportunity in a year can change the course of your life.
Do not invest all your money, and keep liquidity to protect you during crises.
2. Knowledge first, profit second!
Do not touch currencies you do not understand, practice on a demo account, but know that emotions differ when dealing with real money.
3. Do not be greedy for positive news!
If you did not sell on the same day as the news, be ready to sell quickly the next day at the high opening.
Many wait for good news to sell.
4. Before holidays... reduce your positions!
During holidays, the market becomes fragile and random, do not take risks, rest with a clear mind.
5. For medium and long term, remember:
"Buy on the dip, sell on the rise!"
Divide your purchase on the dip, and sell gradually on the rise.
Control costs and keep liquidity for market surprises.
6. In short trading... only choose active currencies!
Stay away from currencies with weak liquidity, high liquidity is your path to profit and quick exits.
7. Monitor the movement pattern:
A currency that declines slowly will rise slowly.
As for those that drop suddenly, they may rebound quickly, seize the opportunity, but do not be greedy!
8. Do not postpone the stop loss!
If you bought the wrong currency, admit your mistake and close the trade with a limited loss, capital is more important than stubbornness.
9. In real-time analysis, focus on the 15-minute chart!
Monitor the KDJ indicator and identify the peaks and troughs.
Support it with MACD and RSI, and do not rely on a single indicator.
10. Do not overwhelm yourself with indicators!
Master two or three (like KDJ and MACD) and focus on them. Distraction confuses you, and simplicity is the path to professionalism.
✨️ The essence of the whole game in two words: (Do not be greedy).
Rein in your greed, reduce repetitive trades, and focus on protecting capital and seizing real opportunities.