In the cryptocurrency world, it went from 5000 to 2 million in 3 months; my trading insights

The profit effect in the cryptocurrency space is obvious, but there is only one reason why most people lose money!

Key elements of successful trading

1. Trading awareness: The real factor determining success or failure is not technology

• 90% of losses stem from emotional loss of control, not poor technology

• Set up a "trading journal": Record the reasons, process, and results of each trade

• Strictly adhere to the "trading plan"; no last-minute changes to the strategy

• Mindset training: Stay humble in continuous profits, and do not be discouraged in continuous losses

2. Trend judgment: Following the right trend is the way to make big money

• Use "trend lines" to identify the main upward wave, and boldly enter when it pulls back to support

• Buy when the RSI indicator is oversold, reduce positions when it is overbought

• "Divergence" signals are precursors to trend reversals and are worth noting

• My strategy: Hold during the main upward wave, buy low and sell high in a volatile market

3. Position management: Position determines profit

• No single cryptocurrency should exceed 25% of the total position

• Control total position within an acceptable range: Risk capital ≤ 20% of total assets

• Set "maximum drawdown" warnings; reduce positions if it exceeds 15%

• Dynamically adjust strategies: Full position in bull markets, half position in monkey markets, no position in bear markets

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