1️⃣Divide your funds into 5 parts, enter only one fifth each time! Control the stop loss at 10 percent, if you are wrong once, you will lose only 2% of your total capital, if you are wrong 5 times - you will lose 10% of your total capital. If you are right, set the take profit at more than 10%. Do you think you can still be squeezed?
2️⃣How to increase the probability of success again? In simple words - follow the trend! In a downtrend, every rebound is a temptation for buyers, in an uptrend, every drop creates a “golden hole”! Do you think it is easier to make money by buying at the bottom or at the peak?
3️⃣Do not touch coins that have grown rapidly in the short term, regardless of whether they are major or altcoins. The number of coins that can show several waves of the main growth is very small. The logic is that after a short-term growth, it is quite difficult to continue growing. During periods of high plateau, the market cannot move up, and of course it will fall. This is a very simple truth, but many people still want to play their luck.
4️⃣You can use MACD to determine the entry and exit points. If the DIF and DEA lines form a golden cross below zero and then cross zero, it is a reliable signal to enter. When the MACD is above zero and forms a dead point, it can be regarded as a signal to reduce positions.
5️⃣I don’t know who coined the term “top-up”, but how many retail investors have suffered losses because of it! Many people, the more they lose, the more they top up, and the more they top up, the more they lose. This is the biggest taboo in trading. Remember, never top up when you have losses, only when you have profits.
6️⃣Volume and price indicators are the most important. Trading volume is the soul of the cryptocurrency market. Watch the volume when breaking levels at low positions, and when high positions, watch the volume to make decisive exit decisions.
7️⃣Only trade coins with an uptrend, this way you will get maximum chances and not waste time. If the 3-day line starts to turn up, it is a signal for short-term growth. If the 30-day line starts to turn up, it is a signal for medium-term growth. If the 84-day line starts to turn up, it is a signal for major growth. If the 120-day moving average starts to turn up, it is a signal for long-term growth!
8️⃣Follow the re-analysis every time, check whether your holdings have changed, look at the weekly candlestick chart, whether it matches your analysis, whether the trend has changed, adjust your trading strategy in time!