Listen carefully, Xiaobai, here are three principles for trading and position building:
1. Keep your position strictly controlled within 50%. This allows you to choose to attack or defend based on the situation. Remember, never operate at full position at any time, as a significant drop in price can lead to unimaginable consequences.
2. Once you achieve 2-3 times the profit, you should first sell a portion, and after recouping your costs, gradually cash out using the profits until you reach your expected psychological price point to consider selling everything. At the same time, retain 10% of your base position to prevent being caught off guard during a rapid surge by the market makers.
3. When the market shows a frenzy of chasing prices, you must sell your chips in batches and stages. Do not become overly obsessed with the numbers in your account, because only the profits that are actually realized belong to you, while the numbers in the account are merely virtual.
Trading cryptocurrency is essentially trading human nature, requiring decisive actions. Realizing profits is the hard truth!
Follow along, and Bai Yi welcomes communication with you.
