Learning is the solid foundation for success. In the turbulent world of cryptocurrency, only by constantly learning, improving skills, and understanding the true meaning of public information can one stand firm in this field full of variables.
Leverage is a double-edged sword. If used well, you can run faster than others; of course, on the other hand, if used poorly, you will die faster than others.
After playing with leverage for a long time, you will find that playing with spot trading becomes very simple. Many novices hope to make huge profits in a single transaction, from 10,000 to 1 million, 100 times, from 1 million to 500,000, a loss of 50%, back to 1 million, it needs to double, back to 0, it only needs to double.
Therefore, novices are most likely to be self-indulgent. After making a few profits in futures trading, they think they are talented. In excitement, they go all in, but end up back to square one. Traders who really want to survive in the cryptocurrency market will never put themselves in a desperate situation. From the moment they go all in, or go heavy, they are destined to be losers. I hope that cryptocurrency friends will be sufficiently vigilant in leveraged trading!
Old players choose to wait and see when the market is uncertain about the rise and fall, and will not rush to operate. They will enter the market quickly when the trend is clear. And they also enter the market with small positions, while many ordinary players operate frequently and operate with heavy positions when the market is unclear. In this way, you will continue to suffer losses, and if you encounter a fierce main force, the loss will be even greater.
Going against the medium and long-term trends and holding orders against the market trend will lead to death.
Many people think that they lose money in futures because the trading cycle is too long, and it is okay to play short-term. However, when the loss reaches a point where it is obvious that the market is going against the market and a stop loss is needed, there is always a psychological struggle: should I stop the loss? Sometimes there is always a fluke mentality that the price will come back, and the long-term contrarian order will die. What's worse, novices who don't understand the trend hope to increase their positions to average out and reduce costs. Later, as the market trend and their own position direction go further and further, but at this time the position is heavier, and they die faster. They embark on the first path of death.
That is, do not hold a heavy position or carry a single order, trade frequently, and chase rising and selling falling.
After several struggles, the amount of meat that can be cut becomes smaller and smaller, and finally there is no meat to cut, and death occurs. Most of the reasons for losses and liquidation can be summarized into the above three types, such as being too greedy, which basically means having a heavy position.
Whether in the stock market or the currency market, if you manage your positions well, you will outperform most people.
Whether it is spot or contract, how you manage your position directly determines your risk control level, average holding price and the final profit size. This can be said to be the most important point besides direction and mentality.
What is position management?
Position management refers to a specific set of plans for opening, increasing, reducing and clearing positions when you decide to trade cryptocurrencies. Good position management is one of the important means for us to avoid risks, which can minimize losses and maximize profits!!
How should positions be managed? Is there a standard? One of the most important reasons why many traders fail is that they regard market analysis as the whole of trading, as if the analysis of the market can determine the outcome. In fact, the market is only the most basic work. What really determines the outcome is the work after the market analysis, that is, the issues you consider after entering the market.
Position management includes fund management and risk control. Don’t understand the word position in terms of meaning. Position is more about when to add positions, how much to add, where to reduce positions, and how much to reduce. It is a roadmap of “entering the market, adding positions, reducing positions, and exiting the market”.
Then the complete transaction process should be:
1. Market analysis, you can use any technical analysis.
2. Position management. After entering the market, you need to consider what might happen next. What to do if you make a profit? Should you add to your position, or stop profit and exit the market, or continue to hold? What if the profit increases again? What to do if you lose money? Should you stop loss, hold the order, or exit partially first? How big a loss will you exit completely? Position management will consider both risk and return factors.
3. Strictly execute transactions. Once you have a clear plan in mind, you should start implementing it and not let market fluctuations disrupt your thinking.
4. Summarize the transaction. After a transaction is completed, it is necessary to review the transactions in the previous period. The review samples should cover the three market states of rising, falling and volatile. Then, on this basis, the market analysis, position management, and the process of executing transactions should be improved and optimized.
We must first find the entry point based on our own trading skills. This position must be a support line. When the market is above the support line, the trend is upward, and when the market falls below the support line, the trend is downward; more importantly, the support line is also the basis for us to define potential risks. When the stop loss is placed below this support line, the potential risk range is determined. If the initial stop loss area below the support line is touched, you should leave the market first or close most of the positions first, and then gradually close the positions as the price continues to fall until all positions are closed.
Then, the potential profit margin is above the support line. The upward trend of the market has not ended, so the potential profit is theoretically unlimited. After entering the market, we can hold the original position and wait for the rise, or reduce the position on the basis of the original position. We will move the stop loss according to the development and changes of the market. When the market is as we expected, we should move the stop loss to the support line that is close to the cost price or has a certain margin. Moving the stop loss is to continuously reduce the risk margin in the market, which is equivalent to locking in floating profits.
When the price rises to a new support or resistance level again and starts to fall back, then the area below this support or resistance level is the position reduction area, and at this time we need to gradually close all positions. To summarize: First, we need to find a support and resistance line of the cost price. When the price rises away from the cost line, we gradually increase our positions, and the increase in positions must be decreasing. When the price falls away from the cost line, we gradually reduce our positions, and the reduction in positions is also decreasing. Your position management technology must take into account both risks and benefits.
Six basic principles of position management:
First: Don’t operate with a full position, always keep a certain proportion of reserve funds:
Second: Buy and sell in batches to reduce risk, spread costs, and maximize profits. The advantage of buying in batches downwards and selling in batches upwards is that your average price is lower than others and your profits are higher.
Third: When the market is weak, you should hold a light position, and in a bear market, it is best not to exceed half of the position. When the market is strong, you can hold a heavy position appropriately. In a bull market, the maximum position is recommended to be 8 layers, and the remaining 20% is for short-term or reserve funds to deal with unexpected events.
Fourth: As the market changes, corresponding position adjustments should be made, and positions should be increased or decreased appropriately.
Fifth: When the market is sluggish, you can go short in the short term and wait for opportunities to come.
Sixth: Position change: keep strong currencies and sell weak currencies
The above 6 principles apply to spot and contracts. If you still don’t understand, please read them carefully several times. By reviewing the old and learning the new, you can become a teacher!
Let's talk about the method of position management, which is to operate in batches.
Batch operation refers to the act of dividing the invested funds, building positions in batches, increasing positions or reducing positions. Batch operation can be completed within a day or over a period of time.
Why do we need to do these actions? Because the currency market is unpredictable, and rises and falls are high-probability events. No one can accurately predict short-term price fluctuations, so enough funds should be set aside to deal with unpredictable fluctuations.
If you are not sure enough and carry out full position operation, once the market changes in the opposite direction, it will bring huge losses. Therefore, the risk of full position investment can be reduced by batching, which can dilute the cost and is the basis for reducing costs and amplifying profits.
Next, let’s talk about how to batch: there are two types: equal batching and non-equal batching
First: Equal allocation, also known as the rectangular buying and selling method, refers to dividing the funds into several equal parts, buying or selling in sequence, and the proportion of funds for each purchase and sale is the same. Usually 3 or 4 equal parts are used. For example, buy 30% first, and if you start to make a profit, buy another 30%. If you don’t make a profit, don’t intervene with new funds for the time being. When the price of the currency reaches a certain high point or the market changes, reduce the position and sell in batches.
Second: Non-equal allocation, which means buying or selling funds in different proportions, such as 1:3:5, 1:2:3:4, 3:2:3, etc. The shapes generated by the proportions are divided into: diamond, rectangle, hourglass, etc. The most commonly used is the pyramid buying and selling method.
Third: With the same funds and the same position, use different methods for comparison.
Pyramid: 1000 for 5 floors, 1100 for 3 floors, 1200 for 1 floor, average price 1055
Inverted pyramid: 1000 for 1st floor, 1100 for 3rd floor, 1200 for 5th floor, average price 1144
Equally divided rectangle: 1000 for 3 layers, 1100 for 3 layers, 1200 for 3 layers, average price 1100
The price rises to 1200, and the profits are: Pyramid 145, Inverted Pyramid 56, Rectangle 100
The price drops to 1000 and the losses are: Pyramid +55, Inverted Pyramid -144, Rectangle -100
By comparison, we can see that the pyramid type has the lowest cost and greater profits when prices rise. When prices fall, the risk is greater. The inverted pyramid is just the opposite. If the price falls to 1,000, the inverted pyramid loses 144. In actual application, it is more reasonable to use the positive pyramid method when buying and the inverted pyramid method when selling.
After the currency price has fallen sharply and reached the bottom but we are not sure whether it has reached the bottom, if we buy at this time, we are afraid of being trapped if the price continues to fall. If we do not buy, we are worried that the market will reverse and rise and we will miss the opportunity. In this case, we can use the pyramid position building method.
For example:
A certain currency falls to 10U, buy 20% of the position, the price falls to 8U, and then enter 30%. At this time, the average cost is 8.6U.
If the market continues to fall to 5U and then enters 40%, the average will be 6.5U.
If the price rebounds to 6.5 yuan, it is considered to be capital preservation. If it rebounds to 10U, it is equivalent to earning 3.5U. But if you buy in full at 10U, you will just get out of the trap when the price returns to 10 yuan.
In the process of currency price rising, the lower the price is, the larger the buying position should be, and the position should be gradually reduced as the price gradually rises. This buying method belongs to right-side position building. Such cost is relatively safe. Even if the market falls, as long as it does not fall below the holding cost, there is no need to panic.
Since this method has a heavy initial position, it has higher requirements for first entry and requires a grasp of market fluctuations, so it is suitable for technical players.
The inverted pyramid selling method is the opposite of the positive pyramid. It is wider at the top and narrower as it goes down, like a funnel. When the price of the currency rises, the number of coins held is gradually reduced, that is, the number of coins sold increases as the price of the currency rises. This is the method of reducing or clearing positions.
The core of position management is the above points. After understanding them, I believe that in the future, whether it is opening a spot position or a contract position, you will have ideas.
If you've made it this far, I'm sure you're a big fan of the community!
Let's start with the actual combat teaching! (The following text will be explained in plain language, I'm afraid you won't understand!)
Spot warehouse management
Example: If you have 100,000 U, you have to divide it into 10 parts! Prepare to buy 10 coins! Allocate 10,000 U to each coin! The same amount of money is required for each entry!
For example: Open a position in XX currency, 50% of the position at XX price, and 50% of the position at XX price. The 50% position means that according to the standard of allocating 10,000U to each currency, 5,000U is opened and 5,000U is reserved for replenishment.
The biggest taboo in spot trading is to hold large positions in the ones you are optimistic about and hold small positions in the ones you are not optimistic about!
This coin is good. I will buy more and buy 30,000 U.
This coin is average, I bought 10,000 U.
If you don't follow this position, there will be a problem. The 30,000 U coins you bought in a heavy position lose 10%, that is 3,000 U. Then, even if the 10,000 U coins you bought in a light position increase by 10%, it is only 1,000 U, and you still lose money!
The above is the plain language of spot trading. If you don’t understand it, read it several times.
Contract position management
ETH position allocation is calculated by number!
The maximum number of positions held with 1000u principal is 5.
The maximum number of positions held with 3000u principal is 10.
The maximum number of positions held with 5000u principal is 20.
The maximum number of positions held with 10000u principal is 30.
The maximum number of positions held with 30000u principal is 50.
The maximum number of positions held with 50000u principal is 100
BTC position allocation is calculated by number!
The maximum number of positions held for a 1000u principal is 0.5
The maximum number of positions held with 3000u principal is 1
The maximum number of positions held with 5000u principal is 2
The maximum number of positions held with 10000u principal is 3.
The maximum number of positions held with 30000u principal is 5.
The maximum number of positions held with 50000u principal is 10.
Contracts are actually the same as spot trading. The initial principal of each order is the same, and the number of orders placed each time is the same. You can take profits when you should and losses when you should. Treat yourself as a trading machine! In the end, God K will conquer you with his strength!
Finally, let me share some of my personal suggestions on how to do good trading.
First: technical aspects, including technical indicators, K-line patterns, trading volume, trend judgment, bull-bear distinction, buying and selling point grasp, support and pressure judgment, and the use of volume, price, time and space.
This varies from person to person. Some people don’t understand the technology and have no interest in it, so there’s nothing we can do about it.
Second: Fundamental analysis, including relevant macroeconomics, policies, supervision, the project itself, etc.
Third: News, bad news and good news, operate when the news and fundamentals are good.
Fourth: Time cycle, intraday short-term, medium-short-term, medium-long-term, long-term (trend trading), confirm the trading cycle, achieve consistency in the operation cycle, such as doing long-term, do not frequently short-term buying and selling operations. When doing long-term trends, the adjustment fluctuations in the middle are acceptable and bearable. As long as there is enough space and it is a mainstream currency, the price will rise again.
Fifth: Control your mentality. Remember not to waver. Once you have made a plan, implement it without any compromise.
Sixth: Strictly stop loss. Stop loss is the worst plan. When the market turns around, do not hesitate to stop loss and escape the top.
These are my personal experiences! I hope it helps you! If you have gained something from reading this, please give me a thumbs up or click "Read More" to continue reading. Thank you!
Methods and underlying logic for screening 100x coins:
1. The circulating market value and total market value should be low. The total market value of the public chain should be less than 50 million, and the dapp protocol should be less than 5 million. It is easy to understand that the circulating market value should be low. If the market value is too high, there will not be enough room for growth, so the lower the better. Why must the total market value be low? That is because the tokens will be released slowly in the next 1-2 years. If the total market value is too high, it means that the project party (dealer) does not need to pull the price, and can get rich by directly shipping. In other words, even if it drops 10 times, there will still be high prices and profits.
2. The ceiling of the track should be high. At least the valuation in the big bull market should reach more than 1 billion US dollars. If it is a meme coin, you can refer to dog coin, if it is a public chain, you can refer to ETH SOL MATIC, if it is a dapp or other protocol, you can refer to uni aave LDO, etc.
3. New narratives. Don’t participate in tracks that are too unpopular. It is best to solve practical problems. New narratives must be long-term value discovery, not short-term cyclical hype. For example, the current AI GPU computing power narrative, a safer, faster and more decentralized public chain, and infrastructure across several tracks such as the Metaverse Chain Games AR.
4. The 100-fold black horse coin must be in a place where no one cares. Because the coins known by the whole network are basically opened high (ICP) or normal valuation (ARB), do you think their unit price can increase by 100 times? When the market opens, the total market value is tens of billions or hundreds of billions. Let alone a 100-fold increase, even if it increases by 10 times, it will catch up with ETH and BTC.
5. The liquidity of the early 100x coins is basically very poor, and they are generally on the chain or in small exchanges. Therefore, when many novices see others recommending early coins, they do not study the value. They keep saying that they don’t want to go to small exchanges, they are too much like local dogs, and it is too troublesome to buy. There is no app that does not participate. These are all superficial phenomena, and they do not see the essence of value. When I bought Magic in 2021, it was very troublesome to cross the chain. Later, it rose 10 times in a month. When I bought PPI in February 2023, I also needed a double wallet to cross the chain. I tried many exchanges and they did not support it. Later, Gate supported Espace to withdraw coins. Later, the threshold of BRC20 tokens was also very high. It was very troublesome to have points and OTC. In short, high thresholds are the only way to stop leeks. Binance has no threshold, but it is difficult to make money on it. All shipments are made after going online. Refer to the recent trend of RDNT GNS PEPE FLOKI.
6. The best time to launch a token is at the end of a bull market or the beginning of a bear market. When researching or buying, the best time to launch and wash is 6-12 months, and the circulation rate should be greater than 50%. KAS was launched in May 22, and it was deeply washed for about 6 months. The highest increase this year is more than 100 times. PPI was launched in May 22, and it started to explode after 9 months of deep washing. The current circulation rate is about 60%, and the highest increase this year is about 50 times.
7. The unit price is low, and there should be more zeros after the decimal point. If the unit price is hundreds or thousands of U at the beginning, more than 80% of the leeks will be scared away. Especially in the bull market, those who rush in are all new leeks. They only look at the unit price and don’t understand the market value. The unit price of meme coins and public chain coins is very low at the beginning, and 3-5 zeros are normal.
8. It is best to use a public chain or a leading protocol on a public chain. The best way to make money in the cryptocurrency world is with a public chain. In the 21st year of the bull market, more than 10 public chain coins with a hundredfold increase emerged, such as Sol Matic Avax Sol FTM, each with its own advantages. There are also many leading protocols, such as Uni Aave Cake XVS, etc. Why don’t I participate in Hong Kong’s hot coins ACH Lina Kdy? Because they are not public chains, many things have a short life cycle, and they are over after a wave of speculation. But the public chain is different. It has always been a hot spot and has always been about building an ecosystem and market value.
9. The founder, team background, investment institution, and financing amount should be reliable. It is best if the founder is a famous person in the cryptocurrency circle, such as the Ethereum core team. For example, the founder of KAS is God Y, and the founder of ROSE is Professor Song. Having a well-known institution participate in the investment is equivalent to an additional endorsement. The financing amount and project valuation are also very important. Good public chain projects are generally valued in the billions.
10. Those who violate the logic of value investment cannot participate. What does it mean to violate the logic of value investment? For example, AMPL is stable, and there was a deflationary token on arb before. The more you hold the token, the less you will get. Whenever you see this, no matter how innovative it is, don't participate. In the end, it will definitely be a mess and you will be cut off completely. AMPL cut off many big Vs. If you think you are a natural fast runner, then ignore what I said.
11. Try not to participate in old coins unless there is a very strong new narrative. For example, this round of RNDR CFX are old coins, but their narratives are very good, perfectly fitting the main theme of this new round of bull market. The former spans the hot spots of several tracks such as AI GPU NFT chain games AR VR metaverse, and it is difficult to be eliminated with basic settings. The latter is a better, faster and safer public chain, and it has the resource support of the national government behind it. In addition, Hong Kong will become the core of the new round of WEB3.0, making CFX the core target of Hong Kong's hot spots. Putting aside the Hong Kong hot spot, it is also a better public chain, and it also has its ecology and value.
12. Choose the first track, and try not to choose the latter. The Hong Kong hotspot I chose is CFX, and the eco-currency I chose is the dex token PPI. The eco-currencies on CFX are all incubated on PPI, so it is the first eco-currency.
If you read the above 12 points carefully, you should understand that you don't need to look at all the coins mentioned above, because they have already passed the market, and it is highly unlikely that there will be a second wave of 100-fold market, and even the probability of 10-fold market is very low. What you need to do is to screen out new coins through these 12 iron rules. The martial arts secrets have been given to you, and whether you can become famous in the world depends on yourself.
Let me share with you a set of practical strategies that I have used over the years. The average winning rate is 80%, which is a rare achievement in the cryptocurrency trading community.
KDJ indicator is a commonly used indicator.
Basic understanding of KDJ indicator KDJ indicator is called random indicator. Many people may have heard of the random walk theory and naturally think that KDJ is a random walk indicator. In the past, some currency trading software even called KDJ a random walk indicator. But in fact, this is misleading. The reason why KDJ is called a random indicator has nothing to do with the random walk theory. It gets its name from the calculation of the immature random value RSV in its indicator formula.
The KDJ indicator is derived from the KD indicator, and the KD indicator is derived from the WR indicator. I mentioned in my previous article that the immature random number RSV in the KDJ indicator and the WR Williams indicator are complementary. The following is their formula. We can see that WR is the highest price minus the closing price, and then divided by the value of the highest price minus the lowest price, and the obtained value is the proportion of the short side's power in the sum of the long and short forces. RSV is the closing price minus the lowest price, and then divided by the value of the highest price minus the lowest price, and the obtained value is the proportion of the long side's power in the sum of the long and short forces. Then let's put them in one indicator and take a look.
WR:(HHV(HIGH,N)-CLOSE)/(HHV(HIGH,N)-LLV(LOW,N))*100;RSV:(CLOSE-LLV(LOW,N))/(HHV(HIGH,N)-LLV(LOW,N))*100;Translation: WR=(the highest value among N days' highest prices - closing price)/(the highest value among N days' highest prices - the lowest value among N days' lowest prices)*100 RSV=(closing price - the lowest value among N days' lowest prices)/(the highest value among N days' highest prices - the lowest value among N days' lowest prices) The default parameter of N is 9, so the N days in the above translation is 9 days.
It can be seen that WR and RSV are a pair of completely symmetrical curves centered on the line of 50. At any point, the sum of these two values is 100. Based on the immature random value RSV, the KD indicator borrows the advantages of the moving average SMA algorithm and adds a smoothing factor, giving a higher weight to the recent RSV value. The KDJ indicator adds a J curve to the KD indicator, and its formula is 3K-2D, which is used to reflect the degree of deviation between the K and D values.
From the above figure, we can see that the K value is a weighted moving average calculation of the RSV value, and the D value is a weighted moving average calculation of the K value. The formula of RSV shows that its value range can never be greater than 100 or less than 0, so the value range of K and D must be between 0-100. The value of J is the arithmetic difference between 3K and 2D, so it is possible to be greater than 100 or less than 0.
The KDJ indicator is an overbought and oversold indicator. It divides the long and short areas from 0-100 with the 50 center line. 0-20 is the oversold area, and 80-100 is the overbought area. However, from practical experience, the above rules are more suitable for the D curve, and the K curve generally reaches 90 and 10 to be in the overbought and oversold areas.
When the K curve crosses the D curve upward near 20, it is considered a buy signal, and when the K curve crosses the D curve downward near 80, it is considered a sell signal. If the J curve is higher than 100, the currency price is likely to reverse and fall, and if it is lower than 0, the currency price is likely to reverse and rise. If the indicator fluctuates near the 50 midline, it has little reference value.
After having a basic understanding of the basic composition of KDJ, let's talk about the role of weekly KDJ. The J line in the weekly KDJ, which is ignored by many people, is the most sensitive to the price of the currency and is relatively accurate. It should be given full attention. For specific usage, see below: 1. When the weekly J line is below 0 and turns upward and closes with a weekly positive K line, the goddess of opportunity will come, and you can buy in batches. This is especially true in a bull market where the currency price is running above the 60-week moving average.
2. In a bear market where the currency price is running below the 60-week moving average, the weekly J line will often be blunted below the value of 0. At this time, do not buy immediately, but wait patiently for the weekly J line to turn upward and close with a weekly positive line before buying.
3. When the weekly J line goes up to above 100 and then turns downward and closes with a weekly negative K line, the devil of death appears. Be alert to the top and reduce your position first. This is especially true in a bear market where the currency price is running below the 60-week moving average.
4. In a bull market where the currency price is running above the 60-week moving average, the weekly J line will often become blunt above 100. At this time, do not sell immediately. Be patient and wait for the weekly J line to turn downward and close with a weekly negative K line before selling.
The upward trend after the weekly KD line bottom divergence is stronger than the upward trend after oversold without bottom divergence. When using weekly KDJ, remember: the rebound of severely oversold will be strong only after bottom divergence.
As a person who has been through it, it is normal to be ripped off when speculating in cryptocurrencies. Only by working with the dealer + having strong skills and methods + having a mature trading system can you avoid being ripped off and make money in the crypto circle. After more than 10 years of hard work in the crypto circle, I have summarized these 10 trading rules and I hope they will be helpful to you! Worth collecting
1. Never Revenge Trade When I close a trade, whether it is a profit or a loss, I stick to it. I close the chart and do not open it again for 24 hours. This prevents me from revenge trading. We close trades for a reason, which means there is no reason to re-enter immediately. Revenge trading is the main reason emotional traders lose money. This is especially critical when trading Bitcoin with leverage. Crypto traders watch Bitcoin for many hours a day, which makes it difficult to walk away and not re-enter after a loss.
2. Avoid trading cryptocurrencies on weekends. The cryptocurrency market is usually more volatile and has low trading volume on weekends. This makes it difficult to predict price movements. Crypto whales can more easily manipulate prices when liquidity is low. This puts individual traders at a significant disadvantage. In addition, weekends are a time for decompression and entertainment, so you should take a good rest away from the charts.
3. Trade only during certain hours I can only trade when I am sitting at my desk with full attention. The cryptocurrency market is open all year round, so it is impossible to keep an eye on it all the time. I set trading hours for myself, and only then will I check the market. This avoids the urge to constantly stay connected to the market and my phone, allowing me to spend time with my family and do other meaningful things.
4. Never get emotionally attached to an asset If you fall in love with the asset or investment you want to trade, it can cause you to make bad decisions. Trading without emotions means trading is not influenced by subjective factors. People tend to get emotionally attached to certain altcoins, teams, or projects. This is great for investors, but a potential disaster for traders.
5. Keep it simple and stupid This is one of my firm rules. When I was a beginner, I would check multiple indicators, news sources and patterns to try to find the best way to trade. This often led to over-analysis. When I saw an opportunity to trade on the chart, understanding stop loss and position size was far more important than timing the entry and exit.
6. Only trade when you are calm This is key. I will not trade when I am angry, tired or stressed. I must trade when I am calm and use my best judgment. Having a life outside of trading is key to maintaining the right mindset. Spending time with family and friends, reading and playing sports are all keys to my trading success.
7. Keep a Journal. Journaling is boring and tedious. It is also important because it helps us avoid making the same mistake twice. I have to remind myself to slow down, stop looking at the charts, and take the time to record as much information as possible about my trades.
8. Simulate trading every day I still do simulated trading regularly. I simulate trading Bitcoin and some altcoins every day, which can avoid risks and test new ideas and indicators.
9. Don't blindly chase the decline. It is unwise to try to buy the bottom perfectly. You should wait for a signal of a safer trend change confirmation. Trading in a trend is much less risky than trying to buy low and sell high.
10. Don't Overtrade I have found that the less I trade, the more money I make. Even when there are a lot of opportunities in the market, I try to keep the number of open trades to less than 3. Manage Multiple Trade Risk
I hope I can always see you in the cryptocurrency circle in the future, because I will only work hard in this field for the rest of my life.$RESOLV $ARDR #CPI数据来袭 #山寨币ETF展望
