Friends who have been trading cryptocurrencies for many years and haven't made 1 million yet, listen to my advice: remember these 10 key points below, if following them doesn’t work, come find me!
1️⃣ Don't mess around with little money! Catching a major rise once a year is enough; don’t invest all your money, keep some cash for safety in case the market drops and you need to buy more.
2️⃣ Earn as much as you understand! Don’t touch coins you don’t understand. It’s fine to practice on a simulated account, but when you invest real money, the mindset is completely different. Learn and understand before you act.
3️⃣ Don’t be greedy with good news! If you haven’t sold it on the day, and it opens high the next day, sell quickly. Everyone is waiting to cash in on good news; a high opening is an opportunity to run away, and if you’re late, you might get stuck.
4️⃣ Reduce positions a week before holidays! During holidays, no one is trading in the market, and prices can easily surge or plummet. Don’t take that risk; it’s better to enjoy the holiday peacefully.
5️⃣ Remember the mid-to-long-term strategy: “buy low, sell high”! Buy in batches when prices drop, and sell in batches when they rise. This way, you can lower your cost and keep some flexible funds on hand, not afraid of market fluctuations.
6️⃣ For short-term trades, only choose popular coins! Avoid coins with low daily trading volume; if no one is buying, you’ll get stuck as soon as you purchase. Follow the varieties along with major capital flows; good liquidity means easier profits.
7️⃣ Remember this rule: coins that decline slowly are likely to rise back slowly afterward; but if there’s a sudden crash, the rebound can be quick. You can seize these opportunities, but don’t be greedy.
8️⃣ Be decisive with stop-loss! If you buy the wrong coin, don’t hold on stubbornly. Admit your mistake and cut your losses in time; protecting your principal gives you a chance to recover. Waiting for a break-even point might lead to deeper losses.
9️⃣ For short-term trades, look at the 15-minute K-line chart! Focus on the KDJ indicator. Sell when it reaches the peak (overbought) and buy when it hits the bottom (oversold). Combine this with MACD and RSI for better judgment; don’t just rely on one indicator.
🔟 Don't learn too many techniques! Mastering two or three indicators is enough, such as KDJ and MACD. Learning too much can create confusion; understanding one indicator thoroughly is stronger than anything else.
It’s that simple; the core is two words: “Restraint” — restrain greed, restrain frequent trading, protect your principal, and seize big opportunities. That’s more practical than anything!