The true experts in cryptocurrency trading are doing the simplest things
To be honest, those who really make money from cryptocurrencies are often not the ones with flashy operations or complex strategies, but rather those who can stick to the simplest methods and adhere to basic principles.
Don't believe it? Then look at the people around you; isn't it true that 90% of them end up 'high open low close'?
They start off full of confidence, but as things get more chaotic, they end up with zero in their accounts and feeling lost.
I have seen too many retail investors' three major failures:
First, they don't trust trends and rely on feelings.
When the candlestick turns red, they get excited; when it turns green, they panic,
resulting in either buying high and getting stuck or cutting losses at the bottom.
If you trade based on emotions, the market will teach you a lesson.
But experts only trust data, follow trends, and do not get overly excited or delusional.
Second, they always want to recover losses in one go.
After losing on one trade, they start to double down,
thinking the next wave will bring them back.
Unfortunately, the market never cooperates with your script; the more they add, the deeper they go,
leading to either a margin call or being completely worn out.
Third, their rhythm is chaotic and their trades are too mixed.
Today they hear a friend say XX will double, so they chase it;
tomorrow they see YY pump in a group chat and they rush in.
With over ten trades in a week, they get stuck every time, their accounts oscillating downwards, losing all confidence.
So, I later focused on just three things:
1. Strictly control frequency.
One to two trades a day is enough; if there are no signals, stay out,
market conditions aren't available every day; opportunities are only given to those who are patient.
2. Always stagger positions.
Never go all in; if it drops, you can add more, if it rises, you can pull back.
Use a pyramid for building positions and an inverted pyramid for taking profits;
even if you are wrong, there is still room to turn back.
3. Look at the big picture, not the small details.
Don't focus on the fluctuations of a five-minute candlestick;
as long as the daily line hasn't broken, don't make a move.
The real big opportunities in the market are written in the trends, not in your feelings.
A set of correct methods + stable execution + a good team to set the pace.
Is far better than you being busy alone!
Those who want to turn things around and understand will naturally find me.