The crypto world went from 50,000 to 3.58 million, which seems legendary, but behind it is just - remembering a few 'lifesaving mantras'.
Many newcomers enter the market thinking about getting rich overnight, but after a flurry of operations, they look at their accounts with tears in their eyes.
I have taken the wrong path and lost a lot of money, but ultimately I managed to withstand it with this set of rules and even achieved double growth. I'm sharing it with you today:
🕹 Must-Remember for Short-Term Trading
Keep a close eye on the top ten mainstream coins, trading along with trends, news, and technical factors; the greater the volatility, the more opportunities there are.
Manage your position: for example, with a principal of 50,000, divide it into five parts, and only use 20% for building a position each time.
Never go all in, at most 50%. The remaining capital is your confidence for turning the situation around.
Do a maximum of 3 trades a day; the more trades you make, the higher the probability of loss compared to profit.
Never average down; if you enter and lose 30%, cut your losses, it indicates the direction was wrong.
Cut losses firmly; holding onto a losing position will lead to disaster.
Don't fall in love with candlesticks; enter and exit quickly.
Go with the trend, only trade mainstream coins, avoid garbage clones.
📜 Lifesaving Mantras
Don't panic during a big drop in the morning; there’s often a rebound in the afternoon;
If there’s a big rise in the afternoon, reduce your position as it may pull back in the evening;
A rise on low volume can still rise, a drop on low volume will still drop;
Good news often leads to a rise, but then it corrects;
If it drops during the day, foreigners often push the market up at 21:30 in the evening;
A spike is the strongest signal; the deeper it goes, the more accurate it is;
Heavy positions will definitely lead to liquidation; this is an iron rule;
After you cut losses on a short position, it often continues to drop;
When you're close to being in the black, the rebound suddenly stops; it won't let you escape easily;
When you take profit, the manipulators will push the market up;
When you’re excited, it's the night before a crash;
When you have no money, the whole screen is rising; it’s just luring you into FOMO.
Finally, I wish that everyone who likes, bookmarks, and follows this article can reap great rewards in this bull market!
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