However, reality gave me a harsh slap in the face. I encountered many problems later, which not only made me lose all my profits but also left me with a huge amount of debt. In the end, I had to sell my house, and my wife and children almost left me. The year 2017 was my darkest moment; in just a few months, I fell from the peak to the bottom.
Later, I reflected and summarized a lot. I had the fortune to share tea with a big figure in the crypto world and discuss the trends of the crypto market.
His words left me deeply shocked.
Later, I began to summarize methods, review, change my wrong trading methods and approaches, start changing my thinking and understanding, learn + learn + learn, and it was only under the guidance of experts that I gained enlightenment! Currently, I can’t say I’m wealthy, but I have achieved stable profits, at least I can steadily outperform over 80% of people.
Looking back at my journey in the crypto world, it has also been full of ups and downs. From the initial 300,000 to entering the market, to catching a bull market and making tens of millions; then from tens of millions back to 200,000. Now, I am waiting for the next round of bull market to come, aiming to reach three small goals.
Next, I will summarize my experience, hoping to provide some help to my fellow crypto friends:
As a veteran with ten years of trading experience, I have weathered storms and crossed bulls and bears. My ability to stand firm in the crypto world relies entirely on these ten golden rules. They are the crystallization of wisdom from my years of experience! Please read carefully, reflect on yourself, and I believe you will extract valuable nutrients from it!
Every word is precious, and each line is worth your careful savoring and repeated chewing. Following these rules may help you avoid years of detours and multiply your wealth by millions!
Remember, maintaining a sense of reverence towards the market is crucial. You must continue learning, delve deeply, and continuously improve your trading system, absorbing new knowledge. Do not become complacent because of a momentary victory, believing that you are unbeatable! Only by always being alert and flexibly responding to various market changes can you laugh last in this turbulent ocean!
Success never comes easily; opportunities always favor those who are prepared. In the future crypto path, no matter how the winds and rains change, I am willing to move forward hand in hand with you to create brilliance together!
In this mysterious field of crypto, full of opportunities and challenges, some become rich overnight, while others lose everything.
When you go from tens of thousands to hundreds of thousands, you will touch upon some thoughts and logic for making big money, and your mindset will become much more stable.
After that, it’s all about continuously replicating successful experiences.
Don’t always fantasize about millions or even billions; start from your actual situation, don’t just talk empty, after all, boasting only makes the bull comfortable.
Two years ago, I met a senior in Shanghai who easily withdrew more than 12 million with the simplest method in the crypto world. At that time, he taught us that the path is always simple. Trading cryptocurrencies, if you think it’s too complicated and consider too many factors, your judgment will become less accurate.
Those who lose money trade like this, wanting to profit is actually very simple: just find a method suitable for yourself that you are good at and repeat it; unknowingly, your account balance will rise.
Here are a few tips shared by him; if you can learn them, even if you don’t turn tens or hundreds of times like the seniors, at least earning some pocket money is not a problem.
First, wait for the highs and lows to stabilize. When the market is in a sideways consolidation phase, it is best to wait and watch because after consolidation, there will be a change in trends. It’s best to take action after a clear market trend emerges.
Second, don’t get attached to hot warehouses; positions should be changed frequently, from start to finish, until it’s all empty. All popular short-term positions are just speculation, and once the heat passes, funds will immediately exit; if you run slow, you’ll be left behind, disoriented in the wind.
Thirdly, a rising gap with hopes for a big increase may occur during the upward trend, with K-lines gradually moving up, showing a high opening bullish line, and volume expanding, indicating that the market is entering an acceleration phase. At this point, we must remain calm, hold our positions steady, and what awaits you next will be a wave of substantial profits.
Fourth, do not cling to massive bullish lines; be decisive in exiting at the end of the trading day. Regardless of whether at high or low points, after a massive bullish line appears, there will be a pullback. Even if it hits the limit, you should exit. We must prevent profit withdrawals.
Fifth, if you mistakenly buy online bearish lines, you should still buy offline bullish lines; if you mistakenly sell, you should still sell. Here, 'lines' refer to moving averages or important support or resistance levels. Short-term traders generally only look at daily moving averages and daily attack lines. I don’t like to drag things out; I usually hold short positions for three days, at most not exceeding one week, even if things get better later, it doesn’t matter to me.
Sixth, do not chase high prices, do not sell, do not buy during a drop, remain still during sideways movements. This can be said to be a basic principle for survival in the crypto world. If you want to survive long in the crypto world, you must remember this saying well.
Seventh, when buying, prepare beforehand, better to enter less than to enter too much. No matter how confident you are, you cannot invest all your funds at once. Because in the crypto world, the only constant is change.
Eighth, learn to observe news and interpret market information. When major news comes out, it’s usually when cryptocurrency prices are most volatile, potentially soaring or plummeting, requiring traders to make judgments. For beginners, it is advisable to wait and watch during major news events.
Ninth, learn to look at the technical aspects, master technical indicator knowledge. The study of technical indicators requires long-term accumulation. Create a learning plan for yourself to study moving averages, KDJ, Bollinger Bands, K-lines, volume-price relationships, capital flow, etc.
Tenth, make a good trading plan; do not trade frequently. Frequent trading not only incurs high fees but also affects trading mentality, leading to irrational judgments.
Eleventh, do a good job of risk control. During trading, be sure to set stop-loss and take-profit points, controlling risk, keeping profits and risks within acceptable ranges. When the price reaches the stop-loss or take-profit point, the system will automatically assist me.
A letter from a senior analyst to the losers; 99% of people who read it will profit!
Every day I hear many investment friends lamenting about their current situations, suffering serious losses. Every time I hear this, I feel quite sad. Forgive me for becoming sentimental on weekends; usually, I’m busy with various data analyses and K-line indicator calculations, having to be particularly rational, cautious, and even cold. But when it comes to these confused and helpless investment friends on the weekend, I can’t help but become sentimental. Although your losses are not caused by me, I am also part of this market as an analyst. How can I dare to say it has nothing to do with me? It must be that I’m not proactive enough; it must be that my various columns and Weibo updates are too few. Otherwise, how could you not have encountered me? How could you not keep up with my thinking? How could you be tortured so badly by this market?
Why can others easily profit hundreds of thousands in a week, while you follow the guidance and just lose?
Answer: Screenshots of making millions in profit are not for investors, but for newcomers entering the market. You might think that all articles that can be published are good articles, and all simulations that can be produced are capable ones, but the reality is that lies told a thousand times will eventually have their truth. When you are half-believing and holding a try-it-out mentality, you are the prey in the eyes of so-called famous masters.
2. Why does it always feel like the profits and losses are disproportionate, where a small profit on one trade leads to a large loss on another?
Answer: It’s better to hold onto your money when you have no goal than to make random trades and lose money. If you make trades as soon as you have money, you will eventually reach your goal of losing a lot of money. You often overestimate how much you can earn from a single trade while underestimating the returns you can achieve over a period, which is a product of the fast-paced life, being anxious for immediate results while ignoring long-term planning.
Answer: Making money is inherently enjoyable; leaving you with a pile of money will only deprive you of future joy and interest in understanding contract investments. Teachers are not omnipotent. What are the odds of encountering a responsible, serious, dedicated, and capable teacher in this market? Haven’t you learned anything after being scammed so many times? Learning experience and skills is the only way to develop discernment; at least, you can’t be satisfied with just a bowl of poison soup and a painted pie.
4. Why does everyone think the market is good, yet you can’t perform well?
Answer: A typical case of following the crowd. The quality of the market cannot simply be expressed as rises and falls; it depends on whether you can understand the market, whether the market is operating according to your (or your teacher’s) judgment. Listening to others talk about a good market when you can’t even understand the reasons for fluctuations and blindly follow along to trade, it’s a miracle if you make money.
Losses are a thing of the past; profits depend on your current choices. The only difference between you and me is a WeChat message, and the only distance between you and profitability is just this one WeChat message. Don’t tell me you are afraid of losing; don’t tell me you have lost confidence. These are all things from before you met me, and my appearance is meant to break these patterns. If you fall, get back up from where you fell; never retreat at the last moment. If your previous losses were due to not encountering me, that was a disaster; but now that you have seen my words, if you still don’t come to find me, then that’s your fate!
The above are my ten years of practical experience and technical summaries in trading cryptocurrencies, which may not be suitable for everyone. Each person needs to combine their own practice to use and summarize. For traders, the most terrifying thing is not technical issues, but insufficient understanding, falling into these trading traps without realizing it! There is no invincible trading system, only invincible users of trading systems! This is the truth; trading systems ultimately return to the person!
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