Today, I would like to share several trading strategies I have summarized from my 10 years in the cryptocurrency space. Visit the homepage for more tenfold and hundredfold secrets.
What is your trading mindset for making a profit?
The essence of trading is: cut losses when wrong, hold when right, small losses, big gains, make big profits and losses. Specifically for each core link: Follow the trend: find a simple moving average to distinguish between long and short; only go long above it, only go short below it. Open a position,
Trial position: go with the trend, follow the big trend and go against the small trend, entering the market should consider a sufficiently large potential risk-reward ratio. If entering at this position, if wrong, the stop loss is small, but if right, the profit is large, usually at the bottom of the trend or at the beginning of the trend. Open a position,
Stop loss: If the key point is broken, you must stop loss, no room for luck. If the price comes back, you can find another opportunity to enter. Do not have a lucky mentality, thinking that holding out might bring it back, and you definitely should not average down your losses. Adding positions: add positions on floating profits; adding positions is the key to making big money. After a price rise according to expectations, if it retraces, add positions at the support level where the retracement stops or at the previous high breakout point, following the big trend and going against the small trend. After adding positions, set a stop loss point, move it to the new key point. The base position is already safe, leaving only the stop loss risk of the added positions. If it fails, stop loss the added positions and wait for the next opportunity. If it continues to rise, hold the position firmly, continue to wait for a retracement to add positions, and continue to move the stop loss. Until the last move is stopped out or a head signal appears to take profit.
Take profit: Never easily take profit at any time; this is the key to making big money. Exiting can be done in batches or all at once, preferably all at once, as it allows you to wait for the highest probability head signals. If it is right-side trading, floating profits will definitely retrace; you must accept this mentally. Do not think about selling at the highest point, or if you didn’t sell at the highest point and feel like you lost, thinking you must wait to sell at the highest point. As long as you can master and follow these principles in practice and maintain discipline and consistency, you will find that making money is a natural thing.