An elder who entered the crypto world with 100,000 and fought to over 40 million+, his words awakened me: 'The market is full of a disorganized crowd. Conquer your inner demons, this is an ATM!'
If you want to establish yourself in the crypto world, you can't do it without real skills. The lessons learned through blood and tears are precious gems:
The core is one word: Steady!
Newbies entering the market: Don’t be reckless! Weigh it carefully, take small steps to test.
Consolidation (grinding market):
Is the low-level grinding innovation low? Those bold can buy in batches.
High-level grinding before another surge? Act decisively to sell, avoid falling!
Volatility (monkey market):
Surging? First sell part, don’t be greedy.
Plummeting? Quickly try a small position.
Consolidation? Watch more, act less! Hold tight and wait for take-off. Downtrend? Slowly add positions to average the cost.
Timing for buying and selling (against human nature):
Don't chase after a surge, wait for a correction (down candle) to analyze.
Panic selling? Calmly find an opportunity to act.
Mantra: Don’t sell at a high, don’t buy at a low, don’t trade during consolidation. Buy on down days, sell on up days, take what others abandon.
Risk engraved in the heart:
After calm comes a giant wave? A big trend may follow.
Consecutive rises for several days? A correction is near; be wary of the K-line triangle.
Look for support (floor) when rising, look for resistance (ceiling) when falling.
Big taboo: Going all-in is seeking death; stubbornly holding without stop-loss is suicide. Move with moderation!
Essence: Trading coins is trading the heart! Greed and fear are deadly foes. Being restless will lead to losses; a calm mind will lead to gains.
Common strategies used by veterans:
‘Swinging’: The market often 'draws boxes'. High sell and low buy within the box, watch the Bollinger Bands for signals, quick in and out.
‘Wait for the wind’: Prolonged consolidation will change. After a genuine breakout, chase in the right direction for a quick resolution.
‘Riding the wave’: In a one-sided market, when the price pulls back/rebounds, enter in the direction of the trend, watch the K-line and moving averages.
‘Standing tall’: When the price hits key resistance/support levels, it's easy to reverse, this is the time to act.
The 'Reversal': After a quick rise and fall, there must be a pullback/rebound, seize this opportunity.
‘Watch the timing’:
Daytime (morning/noon): Small fluctuations, steady progress.
Night until dawn (evening/dawn): High volatility, stimulating but dangerous, requires real skill.
In the cryptocurrency world, rather than flailing about, it's better to cultivate your heart and skills. Opportunities are frequent, but what is lacking is a calm mind and reliable strategies. Remember: If the heart is stable, the wallet will be stable. Silent wealth is the true path.
I am Chan Lian, follow me, top team support, only serving ambitious madmen.