The cryptocurrency market has allowed me to accumulate about a million in profits over the years, with an initial investment of 80,000, and I have been trading full-time for 8 years. During this time, I have experienced quite a few ups and downs, but I really made significant money during two bull market opportunities. Here are some of my experiences and lessons:
1. Control the risk of each trade within 10% of the principal; it is not advisable for beginners to take risks, and it is best to keep the risk within 2%-5%.
2. Once you enter the market, do not close your position due to short-term fluctuations or impatience; the market needs time to prove itself, and you must have patience.
3. Execute trades according to your plan to avoid overtrading, as it can lead to mistakes.
4. After making a profit, gradually adjust your take profit and stop loss, boldly follow the market trend to maximize your profits.
5. Never cancel your stop loss point; this effectively controls risk.
6. It is not advisable to add positions when the market is doing well; greed often leads to significant risks.
7. Switching from long to short positions requires a high level of skill; not everyone is suitable for arbitrarily changing positions.
8. Even when trading feels smooth, do not easily increase your position; excessive confidence can lead to significant mistakes. These insights are experiences I have summarized after years of struggling in the cryptocurrency market, and I hope they will be helpful to you. #币圈 #BTC走势分析