Trading cryptocurrencies for 9 years, from losing 7 million to earning back 10 million, I have realized 7 blood-and-tear iron laws!
Starting with a principal of 5000, I made over 10 million during a bull market, then lost continuously for three years when the market reversed, losing 7 million... At one point, I was broke and relied on a borrowed 200,000 to make a comeback, and I managed to earn back 10 million!
Today, I won't share motivational quotes or sell courses; I will publicly share my summarized '7 Trading Laws for Cryptocurrencies.' If you follow them, you can at least avoid wasting years of money!
Iron Law One: If you don't understand trading volume, you're doomed to be cut!
High volume without a drop is a signal to stop falling! High volume without a rise is a sign of a peak.
An increase must be accompanied by sustained high volume; if key levels see high volume during a drop, it means it will continue to fall! Don't just focus on price; volume reveals the true intentions of funds!
Iron Law Two: Key price levels = the line between life and death!
Resistance levels, support levels, trend lines—react as soon as they are touched! Want to be more precise? I use Fibonacci ratios to calculate key levels, and they really are accurate every time!
Iron Law Three: Time cycles are not just for show; they are your third eye!
1 minute: precise entry and exit points! 3 minutes: monitor wave adjustments! 30 minutes/1 hour: grasp intraday trends. If you don’t look at multiple cycles, you are blindfolded trying to read candlestick charts!
Iron Law Four: Stop-loss is not surrender; it's making way for the next opportunity!
If a trade loses, it loses; accept it! Don't carry emotions into the next trade; losses are often due to emotional rebound trades!
Iron Law Five: Three-position strategy, a lifesaver for trading contracts!
Break below the 5-day moving average → First position: Break below the 15-day moving average → Second position: Break below the 30-day moving average → Third position: If it falls below the corresponding moving average, cut it off without hesitation!
Iron Law Six: Exiting without a strategy = playing a game for nothing!
If it breaks below the 5-day line at a high point: exit a portion first! If it breaks below the 15/30-day line: clear the whole position!
Profit taking is real winning; if you’re greedy, you’ll give it all back!
Iron Law Seven: Position + price not in sync, be alert immediately!
Increasing position but no rise: be careful of sell signals! Increasing position but no drop: may be quietly building a long position! Many people fail because they don’t understand these 'detailed signals'!
These things seem simple, but it's really hard to do them. But as long as you follow them, even if you only achieve 70%, you can survive in the cryptocurrency world longer than 99% of people!
If you also want to take fewer detours and not be harvested repeatedly, like and follow!
Don't wait until you've lost everything to turn back!
