To all the old friends who haven't turned their luck around after years of trading cryptocurrencies, listen to my advice: these 10 hard-earned lessons can save your life. I've seen too many people learn these truths only after paying the tuition...
1. If your capital is small, don't make reckless moves! Mastering one major market trend a year makes you an expert. Always remember to keep 30% of your capital in reserve; only then will you know who’s swimming naked during a market crash.
2. Only make money within your understanding! Don't be envious when you see others getting rich off dog coins; you'll never earn money beyond your comprehension. The mindset in a simulated account and a real account is like the difference between 100 Bitcoins.
3. Good news turning into bad news! If you don't sell on the day the news comes out, the next day’s high opening is your last chance to escape. The market manipulators are just waiting for retail investors to take the bait; don’t be the last fool.
4. You must reduce your position before holidays! When liquidity dries up during the holiday, the manipulators love to create traps. Would you rather enjoy your holiday or lose sleep staring at the charts?
5. Mid to long-term trading should be as natural as breathing! Accumulate positions gradually during a downtrend, and take profits in batches during a surge. This way, you can smile while watching others chase highs and sell lows.
6. For short-term trading, only play with hot coins! Stay away from trash coins with daily trading volumes below 100 million; if you buy in, even dogs won't pick it up.
7. Remember this iron rule: coins that are in a downtrend will gradually recover, while coins that crash will rebound violently. But bottom fishing should be as swift, precise, and ruthless as an assassin; don’t get too attached.
8. Cut losses as decisively as a breakup! Admit your mistakes; don’t fall in love with your trades. Keep your capital intact, and you won't worry about running out of fuel.
9. For short-term trading, just focus on the 15-minute chart! Prepare to run when the KDJ hits above 80, and be ready to buy when it drops below 20. Use MACD to check for divergence; the simpler the indicators, the more effective they are.
10. Master one strategy to perfection! Either become proficient in KDJ for short-term trades or thoroughly understand MACD for trend trading. Those who try to master every technique often end up with the worst results.
In the end, trading cryptocurrencies is not about skills; it’s about human nature. Overcoming the twin demons of greed and fear makes you a winner. Remember, as long as you're alive, you have the right to talk about profits.
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