If you have been trading cryptocurrencies for over a year and haven't made 1 million, after reading these 10 tips, if you still can't make money, come find me.
After more than 4 years of trading cryptocurrencies, I have summarized the following ten key insights.
1. If your capital is not very large, such as within 200,000, catching a major upward trend once a year is enough; you must not always be fully invested.
2. A person can never earn wealth beyond their understanding. First, practice with a demo account to develop your true mindset and courage. You can fail an unlimited number of times in a demo account, but a single failure in real trading could cost you everything and even drive you away from the market.
3. When encountering major good news, if you don't sell on the same day, remember to sell on the next day when it opens high. The realization of good news often turns into bad news.
4. When encountering major holidays, reduce your position or even go to cash a week in advance. Historically, markets tend to drop during holidays.
5. The strategy for medium to long-term trading is to keep enough cash, sell high, buy back on dips, and rolling operations are the best approach.
6. Short-term trading mainly looks at trading volume and patterns. Trade active patterns with significant fluctuations, and avoid inactive ones.
7. A slow decline will lead to a slow rebound; a rapid decline will lead to a quick rebound.
8. If you make a wrong purchase, acknowledge it and cut your losses in time. Preserving your capital is fundamental to surviving in the market.
9. When doing short-term trading, be sure to look at the 15-minute K-line chart. You can find better buying and selling points based on the KDJ indicator.
10. There are countless techniques and methods for trading cryptocurrencies. Mastering just a few is sufficient; do not be greedy. For reference only!!
