I know an old mentor who invested 100,000 yuan into the cryptocurrency market, and now it has grown to 42 million. He once told me a saying that enlightened me. He said: “The cryptocurrency market is made up of a crowd of unorganized people; you just need to control your emotions, and this market will be an ATM!
In the cryptocurrency market, your trading strategy is your 'secret weapon.' The following mantras are the crystallization of practical experience, so make sure to save them!
Entry Section: Test the waters in the cryptocurrency market, prepare to go first; enter steadily, refuse to rush in.
Horizontal Market Section: When the price is low and horizontal, it's a good time to buy heavily; when the price is high and horizontal, decisively sell without hesitation.
Volatility Section: Sell immediately after a price spike; quickly enter during a price drop; watch during horizontal movements, reduce trading. Horizontal means to replace decline with stability, hold tight to your assets, and a rise may happen in the next second; during a rapid rise, be wary of a sharp drop and be ready to secure your profits; a slow decline is a good opportunity to gradually add to your position.
Trading Timing Section: Don’t buy at a peak, don’t sell; don’t buy during a drop; don’t trade in a horizontal market. Buy on a bearish candle, sell on a bullish candle; reverse operations are how you stand out.
Buy on a big drop in the morning, sell on a big rise in the morning; don’t chase high on a big rise in the afternoon, buy after a big drop in the afternoon the next day;
Don’t cut losses on a big drop in the morning, rest if there’s no rise or fall; add to your position to break even when locked in, and avoid excessive greed.
Risk Awareness Section: High waves can arise on a calm lake; there may be big turbulence ahead; after a big rise, there must be a pullback, and K-lines show a triangle over several days. In an upward trend, look for support; in a downward trend, look for resistance.
Being fully invested is a big taboo; stubbornness is not advisable; facing uncertainty, know when to stop, and grasp the timing of entry and exit.
Trading cryptocurrencies is essentially about trading your mindset; greed and fear are the biggest enemies; be cautious in chasing highs and cutting losses, and a calm mind brings peace.