With 100,000 fans, I lost everything to 5,000. Using the dumbest method to trade cryptocurrencies, I made a comeback.
1. A dismal start: Fans rushed into the contract market with 100,000, thinking with their skills they could profit regardless of how they went long. Reality hit hard.
High-frequency trading addiction: Trading dozens of times a day, transaction fees ate up the principal!
Stubbornly holding on, completely wiped out: Continuously averaging down during sharp declines, thinking to myself 'the bull will return, it will come back quickly', only to end up at zero again!
FOMO all-in, suffered a massive loss: Seeing others making a hundredfold profit from altcoins, I impulsively poured everything into a meme coin, only to wake up and find my account had only 5,000 left...
I gave him three methods to follow
1. Only trade in a certain market, refuse to operate frequently
No longer obsessing over 1-minute candlesticks and making random moves, just waiting for major breakouts.
Better to miss out than to make mistakes!
2. Win big, cut losses short, add positions precisely like a sniper
The first order should never exceed 10% (500U), only gradually increase position after making a profit!
For example, if I make a 20% profit, I immediately take half the profit, and set a trailing stop for the remaining to let profits run.
3. Stop-loss is a lifeline, never take chances
Every trade must have a stop-loss, cut losses at 5% immediately, never hold onto losing trades!
If I have two consecutive stop-losses, I stop trading for the day to avoid losing control of my emotions.
Advice to all crypto friends
"Want to make a comeback? First, learn to survive!"—Before losing all the principal, practice good stop-loss strategies.
Record every trade, understand every loss, and maximize every gain.
99% of people get liquidated because of the lucky mentality of 'just holding on a little longer and I will break even'.
Now, do you dare to open your trading records and see how exactly you lost?