How to become a millionaire by trading cryptocurrencies?
From 2024 to 2025, my position smoothly reached eight digits. From the beginning, I stayed up all night, gradually summarizing a set of practical methods. Trading cryptocurrencies is like going to work; you follow the process during work hours and have fun after work, while also receiving objective returns every month.
In the crypto world, one day is like a year in the real world, showcasing the ever-changing dynamics. Here are 10 points of experience for your reference, making it hard to lose even if you want to.
Market Maker's Protective Coins:
When the market crashes and the coins in hand don’t fall, it’s highly likely that a market maker is protecting them. These coins either have solid fundamentals or potential good news; hold on to them, as there is significant profit potential ahead.
Beginner's Moving Average Guide:
Beginners should pay more attention to macro information when buying and selling. For short-term trading, watch the 5-day moving average; hold while above it and exit when it breaks. For medium-term, focus on the 20-day moving average and operate similarly. Stick to a simple moving average strategy and act decisively.
Short-term Adjustment Strategy:
If a coin is bought and does not move for three days, switch it immediately. If you buy and it drops, losing 5%, decisively cut losses, efficiently use funds, and avoid losses.
Opportunistic Buying During Oversold Rebounds:
If a coin has halved from a high and has dropped for nine consecutive days, it may have reached its bottom, and a rebound is imminent. Buy decisively to catch the rebound.
Leading Coin Investment Logic:
In the crypto world, pursue leading coins, as they have strong upward momentum and are resilient to downturns. Do not hesitate due to high prices or significant drops; buy when the upward trend is established and sell during reversals.
Balancing Bottom Fishing and Trends:
Do not be obsessed with bottom fishing; a declining coin may have no bottom. Investments should follow trends, accurately grasping the timing to enter when the trend is upward, increasing the probability of profit.
Building a Trading Strategy:
In the crypto space, don’t get complacent after a profit; continuous profitability is challenging. Review your strategy after each profit to see if it is effective or just luck, and build a strategy that suits you.
Using a Cash Position Strategy:
When uncertain about the market, hold cash; capital safety is the top priority. Entering the crypto space should focus on stable asset appreciation, avoiding gambling-style investments; trading is about success rates and profit-loss ratios.
Consensus and Wealth in the Crypto World:
Digital currencies develop through consensus mechanisms, where participants gain wealth through belief and effort, showcasing the power of consensus in the crypto world and its wealth creation potential.
If anyone feels lost due to market fluctuations, unsure how to handle being stuck, or feels misled during operations, remember to keep learning.
