I summarized 9 practical experiences. If you learn these, you can also build your first 1 million in life!
1. If you don't have much capital, like within 100,000, then don't be greedy. Catching one major market movement each day is enough. Don't think about holding positions all the time; that's impossible!
2. When there’s a big positive news, if you haven't sold on that day, then sell quickly when the market opens high the next day. Often, when good news comes out, it’s the time to sell at the top, so don’t wait until it drops to regret.
3. News and holidays are crucial for trading. When big events are coming, reduce your position or go completely out of the market in advance. Wait until the market is clear before taking action to ensure steady profits without losses!
4. For medium to long-term trading, you need to enter with a light position to leave some room for yourself. Don’t start with heavy investment; that can easily lead to losses. Smart operation and slow accumulation are the way to go.
5. Short-term trading is all about quick entry and exit; don’t drag it out. Seize the right moment, enter decisively, and if the market goes against you, leave immediately. Don’t let greed trap you.
6. The market can sometimes move as slowly as a snail and other times as fast as lightning. You have to move with its rhythm and not just overthink it.
7. If you get the direction wrong, you need to cut losses promptly. Don’t hold on stubbornly; stop-losses are there to protect your capital. Don’t wait until you lose big to regret.
8. For short-term trading, you need to keep a close eye on the 15-minute K-line chart. The KDJ indicator can help you find the right entry position; don’t miss the opportunity.
9. The final and most important point is mindset. The cryptocurrency market is very volatile, so you need to have a strong heart. Don’t let temporary fluctuations affect your mood; stay calm to achieve long-term success. In short, trading in the cryptocurrency market is not easy, but if you master these principles, you can become a winner in life.
