7 Golden Rules for Making Money in Cryptocurrency Trading, Learn Them and You Could Earn 1 Million!
The cryptocurrency market is full of opportunities, but to achieve stable profits, you must master the right methods and mindset. I have summarized 7 practical experiences to help you navigate the crypto world and accumulate wealth faster.
1. Don't be greedy with little capital; seize the major trends and run.
If your principal is under 100,000, don’t fantasize about getting rich overnight; capturing a major trend once a day is enough. Short-term trading is most hindered by greed; take profits and don’t always think about holding until it doubles.
2. Good news turning into bad news; don’t hesitate.
When encountering major positive news, if you haven't sold on the same day, you must sell when the market opens high the next day. The market often buys on expectations and sells on facts; after good news materializes, a pullback is highly likely.
3. Reduce positions in advance to avoid risks before major events.
When there are policy announcements, major project updates, or holidays, reduce positions or go to cash in advance. The market can be highly volatile at key points, and when the direction is unclear, wait for the trend to be confirmed before entering.
4. For medium to long-term trading, keep a light position.
For medium to long-term investments, don’t go all in; building positions in batches is safer. Steady operations allow you to survive longer; betting heavily on direction makes it hard to recover once you're wrong.
5. Short-term trading requires speed; don’t linger.
Short-term trading emphasizes quick entry and exit; decisively enter when the market moves and immediately exit when it stagnates. Don’t struggle in a choppy market; it wastes time and you might get trapped.
6. Market volatility dictates market rhythm.
Low-volatility market: Slow rebounds, suitable for buying low and selling high.
High-volatility market: Quick pullbacks, trend trading is more suitable.
7. Mindset determines success or failure.
In the crypto world, one day is like a year in the real world; wild rises and falls are the norm. Don’t be swayed by emotions; stay calm when making money, don’t panic when losing money, and strictly follow your trading plan.
In the crypto market, technology is just the foundation; what truly determines success is execution and mindset.
Strategy: Quick entry and exit for short-term, light positions for medium to long-term.
Discipline: Strict stop-loss, no holding onto losing positions, no greed.
Mindset: Face ups and downs calmly, adhere to your trading system.
By following these 7 rules, you too can achieve stable profits in the crypto world and earn your own 1 million!
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Expert in both spot and contract trading, guiding you to avoid investment traps.
Remember: Choosing the right guide is more important than blindly working hard!
