Six Golden Rules for Trading Cryptocurrency from a Big Shot Who Made 40 Million in Ten Years in the Crypto World, Enlightening After Listening!
Ten years ago, I just stepped into the crypto world, like most retail investors: profits relied on luck, and losses could come anytime.
After a decade of honing my skills, I have summarized six survival rules that help me earn steadily in the crypto world. Today I share them with you, to help you avoid detours.
1. Wait for the trend to become clear before taking action
High-level sideways trading is likely to create new highs, while low-level sideways trading is likely to create new lows. Don’t rush into blind trading during consolidation; it’s safer to act only after key levels are broken.
2. Don’t force trades in choppy markets
Most people lose money because they always try to find opportunities during sideways trading. Sideways movement is actually the market “holding back for a big move”; don’t be a victim, patiently wait for the trend to become clear.
3. Interpret candlestick patterns in reverse
A large bearish candlestick closing? It might be a buying opportunity. A large bullish candlestick closing? Take some profit first.
Remember: don’t panic with bearish candles, don’t be greedy with bullish candles.
4. Avoid touching rebounds in a downtrend
Rebounds in a downtrend channel are merely “flashes of light,” and buying at high levels carries great risk. Instead of chasing highs, it’s better to wait for the trend to completely deteriorate before acting.
5. Build positions in batches, pyramid strategy
Don’t buy everything at once: buy 10% first, then buy 20% after a 5% drop, and add more as it drops…
This way, you can lower your average cost and avoid betting everything on the wrong direction.
6. Liquidate timely at the end of a trend
Whether rising or falling, prices reaching extremes will inevitably enter consolidation. Don’t cling to high positions; sell when the price rises, don’t wait for a pullback and regret it.
Don’t rush at low levels; confirm the trend reversal before buying, don’t be fooled by short-term fluctuations.
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