There is a very foolish method in the cryptocurrency world that allows you to keep making profits.
There is a very foolish way to trade cryptocurrencies that lets you maintain 'eternal profits.'
At the end of last year, I played around with 100,000, and now it's 20 million, easily achieving a hundredfold profit. The experience is summarized below for everyone's reference and learning!
Making money from trading is actually this simple; you just need these three steps! Master them, and you can easily multiply your account by ten!
Step 1: Look at the trend first.
Step 2: Then find the key levels.
Step 3: Look for entry signals.
Enter the market, take profits, close positions, and leave.
Isn't it simple?
Let's explain it in more detail below.
Step 1: Look at the trend first.
The state of a market can only yield three results: bullish, sideways, or bearish.
What is a major trend? Look at the charts with periods of 4 hours or more,
for example, 4-hour, daily, or weekly charts (my personal habit is to look at 4-hour).
If it's bullish, go long; if it's bearish, go short; if it's sideways, don't trade.
Step 2: Find the key levels.
Regardless of whether the market is bullish or bearish, it will jump like a bouncing ball, rising step by step or falling step by step.
What we need to do is enter at the jumping point and exit at the next landing point. How to find the precise steps is the key. #Bitcoin
This is what we call key levels (main support and resistance levels). #CryptoTrading
Step 3: Look for signals.
Generally, if you discover a trend in a larger timeframe, you should go to a smaller timeframe to find trading signals to enter.
Everyone has different strategies they excel at; mastering one or two is sufficient. #CryptoWorld
More importantly, you need to quickly formulate a trading strategy.
A complete trading strategy includes:
(1) Asset — What to trade;
(2) Position — How much to hold;
(3) Direction — Long or short;
(4) Entry point — At what price to trade;
(5) Stop-loss — When to exit losing trades;
(6) Take-profit — When to exit winning trades;
(7) Contingency plan — How to respond to unexpected situations;
(8) Follow-up — Actions after the trade is completed.