In the cryptocurrency world, over the past decade, the ups and downs have been significant, from 50,000 to nearly 30 million today. As someone who has been trading cryptocurrencies for over 10 years, I entered the market with 50,000, made a profit of 11 million, then went into debt of 3 million, made a profit of 20 million, and now achieved financial freedom. In the past two years, from May 23, 2022, to June 4, 2024, I managed to turn less than 500,000 into a return of 418,134.86%, reaching over 28 million. Here are some practical and useful advice for those just entering the cryptocurrency market.
The Three Levels of Snowballing:
First Level (10-20 USD stage): Only trade during the lunch break and at 2 AM. Don’t ask why, even market makers need to eat and sleep.
Second Level (Breaking the 50 USD barrier): Split your principal into red and blue parts. Use the red for contract trading, and buy Dogecoin with the blue to store in a cold wallet—don’t underestimate MEME coins; last year I sent a 131.4 red envelope to my online dating partner on 520 using this.
Third Level (Hitting the 100 USD life-and-death line): At this stage, learn to "nurture a gu". Open 3 exchange accounts, each with 30 USD, and let them compete against each other. The account that survives is the chosen one.
Back to the point, I urge new traders to carefully read, comprehend, and practice the following cryptocurrency trading principles:
1,000 in the cryptocurrency world is about 140 USD!
Recommended optimal strategy: Contracts
Each time use 30 USD to bet on popular coins, ensuring to take profits and cut losses at 100 into 200, 200 into 400, 400 into 800.
Remember, at most three times! Because luck plays a part in cryptocurrency, betting like this can easily yield 9 wins and then one loss! If you pass three rounds with 100, then your principal reaches 1,100 USD!
At this point, it is recommended to use a three-tier strategy to trade.
Do two types of trades a day: ultra-short trades and strategic trades; if opportunities arise, then enter trend trades.
Ultra-short trades are for quick strikes, targeting 15-minute levels. Advantages: high returns; disadvantages: high risk.
Only trade major coins like Bitcoin and Ethereum.
The second type of trade, strategic trades, is to use small positions like 10 to 15 USD to trade around the four-hour level. Store the profits and invest regularly in Bitcoin weekly.
The third type, trend trades for medium to long-term trading, directly enter when the timing is right. Advantages: more gains.
Find the right entry point and set a relatively high risk-reward ratio.
