In the cryptocurrency circle, I have accumulated a total of about 25 million yuan in profits, while my initial capital was only 60,000 yuan. For six years, I have been full-time in cryptocurrency trading and have experienced many fluctuations and challenges, but the real rich returns come from seizing two rounds of bull markets. Here are some of my experiences:
Risk control
The risk of each transaction should be controlled within 10% of the principal. It is recommended that novices reduce the risk to between 2% and 5%.
Be patient
Be patient during the transaction and do not impulsively close the position due to market fluctuations. As long as the market does not clearly deny your operation, you must hold it firmly.
Execution plan
Strictly follow the transaction plan to avoid over-trading.
Stop profit and stop loss
When the transaction direction is correct and there is already a certain profit, adjust the stop profit and stop loss appropriately, follow the trend, and strive for greater profits until the market trend changes.
Basic principles
Setting a stop loss point is the basic principle of trading, and it is forbidden to cancel it at will. After entering the market, you should always maintain risk control and never run naked.
Position management
When the transaction is going smoothly, avoid adding positions at will to avoid being hit by the market in the opposite direction.
Be careful in operation
Beginners should not switch from long positions to short positions at will, as this operation requires superb skills and experience.
Prevent paralysis
When the market trend is good, do not increase the position at will, because this mentality can easily lead to paralysis, thereby increasing the risk of error.
