Friends who have been trading for many years without making 1 million, listen to my advice. Remember these 10 practical tips below, and if it doesn't work, come find me!
1. Don't mess around with little money! Catching a big rise opportunity once a year is enough. Don't invest all your money; keep some cash as a safeguard. If it drops, you can still buy more.
2. Earn as much as you understand! Don’t touch coins you don’t understand. Practicing on a demo account is fine, but when you buy with real money, the mindset is completely different. Learn it well before you act.
3. Don’t be greedy with good news! If you haven't sold on the same day, sell quickly the next day if it opens high. Everyone is waiting to sell on good news, and a high opening is an opportunity to escape. If you wait too long, it might become a loss.
4. Reduce your position a week in advance of holidays! During holidays, no one trades in the market, and prices can easily skyrocket or plummet. Don’t take this risk; enjoying the holiday is more important than anything else.
5. Remember the long and medium-term strategy: "buy low, sell high"! Buy in batches when it drops, and sell in batches when it rises. This way, you can lower your cost and have flexible funds on hand, so you won’t fear market fluctuations.
6. For short-term trading, only pick popular coins! Don't touch coins with low daily trading volume; if no one is buying, you’ll be stuck when you purchase. Follow the varieties that are in the flow of large funds; good liquidity means better profit potential.
7. Remember this rule: coins that decline slowly are likely to rise back slowly later; however, if there is a sudden crash, the rebound will be quick. You can seize this opportunity but don’t be greedy.
8. Be decisive with stop-loss! If you buy the wrong one, don’t hold on stubbornly. Acknowledge the mistake and cut your losses in time. Preserving your capital gives you a chance to recover; waiting for the position to break even may lead to deeper losses.
9. For short-term trading, look at the 15-minute K-line chart! Focus on the KDJ indicator; sell when it reaches the top (overbought), buy when it hits the bottom (oversold), and use MACD and RSI to assist your judgment. Don't just rely on one indicator.
10. Don’t learn too many technicals! Mastering two or three indicators is enough, for example, KDJ and MACD are sufficient. Learning too many can confuse you; understanding one indicator thoroughly is more beneficial.
It’s that simple. The core is two words: "Restraint"— restrain greed, restrain frequent trading, preserve your capital, and seize big opportunities. That’s more practical than anything else!