In the crypto world, going from 50,000 to 5,000,000, just remember these few sentences! 1. Short-term trading
1. Focus only on the top ten mainstream cryptocurrencies every day, based on current market trends, news, daily MACD golden cross, BOLL opening and closing, and combined with market trends, comprehensively consider and choose highly volatile varieties to trade.
2. Control your position well:
Divide 50,000 into 20%, which is 5 parts, taking one part each time to build your position.
3. Never go all in, at most 50%, always leave 50% as a reserve for opportunities.
4. Do not trade more than 3 times a day; keep your hands under control.
5. Never average down; if you enter a position and lose 30%, withdraw promptly as it indicates the entry point was wrong.
6. Set a stop loss at 30%, and if it breaks, close the position unconditionally, do not hold onto the trade, holding will lead to death.
7. Never fall in love with candlesticks; enter and exit quickly, remember!!!
8. Go with the trend; trends are king, only trade mainstream, not small altcoins!
2. Crypto Survival Mantra (recommended to memorize)
1. Don't rush to flee when there’s a big drop in the morning; generally, there will be a rebound in the afternoon!
2. If there’s a big rise in the afternoon, reduce your position; the probability of a pullback at night is high!
3. A decline in volume while rising will continue to rise, and a decline in volume while falling will continue to fall.
4. Major meetings or positive news will usually result in a rise, and they will drop once the news is released.
5. If there’s a continuous drop in the domestic market during the day, buy the dip; at 21:30, foreigners will pump the market.
6. The key signal for buying and selling is the spike; the deeper the spike, the stronger the buy and sell signal.
7. When you are heavily invested, you are sure to face liquidation; why? Because you are on the liquidation list that the exchange is focusing on.
8. After your short position's stop loss is triggered, it will definitely drop; if it doesn’t trick you out or liquidate you, how can it drop? For example, TRB.
9. When you are about to break even, just a little more, the rebound suddenly stops; how can it let you close your position and run away?
10. When you take profit, the market will pull back; if you don’t exit, how can it pump? The weight of your position is too heavy.
11. When you are excited, a crash will come as expected; your excitement is also a lure from the whales.
12. When you are broke, every project seems to be rising, making you FOMO and rush to enter the market. So you understand, the market is manipulated over 80% of the time; besides controlling your position, you must also act decisively, ensuring not to enter the market before confirming whale movements. Once you enter, the exchange is the knife, and you are the fish. Trading is a test of patience, stability, and timing.