Trading cryptocurrencies for 10 years, every penny behind it is a lesson learned through blood and tears!

Some people ask me: "Can you really make money trading cryptocurrencies?" I took five years to answer: Yes! I hope sharing all my experiences can help you.

1. Cryptocurrency: Determine which type of cryptocurrency you want to trade. For example, Bitcoin (BTC), Ethereum (ETH), etc.

2. Position: Decide how much of the cryptocurrency you want to hold. This depends on your capital management strategy and risk tolerance.

3. Direction: Determine whether to go long (buy) or short (sell). This needs to be judged based on market trends and technical analysis.

4. Entry Point: Determine at what point to enter the trade. You can decide based on technical indicators, support and resistance levels, etc.

5. Stop Loss: Set a point to exit a losing trade to control risk. Usually, a stop loss is set below the entry point.

6. Take Profit: Set a point to exit a profitable trade to ensure profit. Usually, a take profit is set at the target price level.

7. Countermeasures: Develop strategies to respond to unexpected situations. For example, measures to take during significant news or fluctuations in the cryptocurrency market.

8. Afterthoughts: Actions after the trade is completed. For example, recording trade logs, summarizing experiences, adjusting strategies, etc.

Once the strategy is formulated, what you need to do next is execute it, then wait patiently, and strictly adhere to trading discipline.

Quietly wait for the market to develop towards your expected goals. Over time, there are only two outcomes:

1. Loss: Summarize experiences, accumulate lessons, become braver with setbacks, and losses are a normal trading cost, which is very normal.

2. Big Profit: Lock in profits, you can increase your position or adjust your stop loss to capture more profits.

This completes a trading process.