I am 30 years old this year. I started trading coins at 22. By 2023-2024, my funds will reach 8 digits. Now, when I go out, I always stay in high-end hotels costing around 2000 yuan, and my suitcase and hat may have coin symbols. It is much more comfortable than what the older generation did in industry or what the post-80s did in e-commerce.
I have hardly ever experienced business disputes with others, and I have fewer worries. The biggest point about trading coins is having a good mindset; skills come second.
1. In most cases, Bitcoin.
It is the leader of the coin market's fluctuations. Strong quality coins like Ethereum sometimes break away from Bitcoin's influence and show a unilateral trend, while altcoins basically cannot escape its influence.
2. Bitcoin and USDT move in opposite directions. If USDT is rising, be cautious of Bitcoin dropping; when Bitcoin is rising, it's a good time to buy USDT.
3. Between 0:00 and 1:00 AM, there is a high chance of 'spike' phenomena. Therefore, domestic coin enthusiasts can set a buy price for their desired coins as low as possible before going to sleep and set a sell price as high as possible; who knows, it might get executed while lying down.
4. Every morning between 6:00 and 8:00 is a time to judge whether to buy or sell, and it's also a point to determine the day's fluctuations. If it has been falling from 0:00 to 6:00, and continues to fall during this period, it is a buying or averaging down opportunity; the day will basically rise. If it has been rising from 0:00 to 6:00, and continues to rise during this period, it is a selling opportunity; the day will likely drop.
5. 5 PM is an important point of attention for rumors in the community. Due to time zone differences, American coin enthusiasts are up and working, which may cause fluctuations in coin prices. Some significant rises or falls have indeed occurred at this time, so it should be paid special attention.
6. There is a saying in the coin market about 'Black Friday', where there have been a few occasions of significant drops coinciding with Friday, but there have also been cases of significant rises or sideways movements. It is not particularly accurate; just pay a little attention to news.
7. If a coin with a certain trading volume guarantee drops, don't worry; holding it patiently will definitely bring you back to break even, in as short as 3 or 4 days, or as long as a month. If you have spare USDT, average down in batches to lower the price; you will recover faster. If you don't have extra money, just wait; it won't disappoint you. Unless you really bought I-coin.
8. Holding the same coin for the long term in spot trading yields greater returns than frequent trading. It just depends on whether you have the patience to hold. I bought Dogecoin at 0.089, and now it has increased over 20 times. After much thought, I decided to share my short-term trading methods that turned my initial 50,000 into 23.98 million in just two years.
