60 million experience exchanged for valuable insights: The only correct way to get rich through trading
Many people always feel that trading cryptocurrencies is very difficult. In fact, the difficulty lies not in the methods, but in execution!
Today, I will present the trading experience that cost me 60 million hard-earned money. If you can understand and execute it, this will be your starting point for getting rich.
The core of trading: small losses, big gains, amplify profits
1· Go with the trend
The simplest yet most profitable rule: When the price is above the moving average, only go long.
When the price is below the moving average, only go short.
In a nutshell, if the direction is wrong, no matter how much you struggle later, it's death.
2· Test position entry
Testing a position is not gambling, but setting a risk-reward ratio: a small loss if wrong; a big profit if right. Only enter at the bottom of the trend or at the start of the trend.
3· Ironclad stop-loss
If a key level is broken, you must exit! Never hold on to false hope, and definitely don’t average down.
Remember: those who get liquidated are always the ones who don’t stop loss.
4· Add to positions on floating profits
Getting rich doesn't come from one big bite, but from adding to positions with floating profits! If the trend is right, add to positions; if there’s a supportive pullback, add to positions; if there’s a breakout above the previous high, add to positions.
Adding to positions is the catalyst for the wealth curve to take off!
5· Trailing stop-loss
Once the base position is safe, only retain the risk of added positions. If the trend continues, hold on tight, and keep moving the stop-loss up until the last time you get knocked out.
This way, you can capture the entire big wave.
6· The wisdom of taking profits
Real big money is not made by trading back and forth on short-term moves, but by holding on. Don’t fantasize about selling at the highest point, and don’t panic if there’s a pullback on floating profits.
What you need to do is wait for the probability of a top signal and exit all at once, cash in fully!
Making money has never been metaphysics; it’s about execution. If you can strictly adhere to these principles, you will find that making money is a natural thing, while losing money is counterintuitive.
This is the system I summarized at the cost of 60 million!
If you truly want to get rich in the cryptocurrency world, engrave it in your bones!
