Making money doesn't require too much skill. If you want to earn 10 million, remember the following points, and it will ensure that you navigate the cryptocurrency world with ease! Let's aim for ten million!
First: We need to understand that averaging down is only for protecting the principal. Never let a temporary loss cloud your judgment with hopes of huge profits. When you're stuck, the real purpose of averaging down is to minimize losses, not to indulge in unrealistic profit expectations. Moreover, don't blindly chase rebounds, that would just be asking for trouble.
Second: Let's talk about the market. Behind a calm market often lies significant volatility. Don't be misled by temporary stability; the market is quite fickle and may suddenly change, catching you off guard. After a big rise, there will definitely be a pullback; this is a hard rule. If you see the candlestick chart forming a triangle for a long time, be alert—the more it rises, the more it is bound to correct. Therefore, carefully observe market patterns and do not get trapped at high positions.
Third: Timing the buy and sell, remember this phrase: buy on down days, sell on up days; contrarian trading is the way to go. When others are panicking, you must be brave enough to buy; when others are going crazy, you must decisively sell. This is the mark of a skilled trader. Do not sell when prices are high; do not buy when they plunge; do not take action during sideways movements. When the market is at a high point, don’t rush to sell; when it breaks support, you must enter decisively; during sideways movements, just stay put and don’t act recklessly. During an uptrend, pay attention to resistance levels; during a downtrend, keep an eye on support levels. This way, you can remain calm and composed.
Fourth: Over-leveraging is a big taboo, and acting stubbornly is even worse. The cryptocurrency market is unpredictable, so you must remain flexible at all times; position management is crucial. Only by moving in and out freely can you navigate the cryptocurrency world with confidence.
Fifth: Let's talk about mindset; trading cryptocurrencies is all about mindset. Greed and fear are our greatest enemies. If you chase after rises and sell during drops, you will only incur greater losses. Therefore, maintaining a stable mindset is essential to remain undefeated in the market.
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