I have been in the cryptocurrency world for nine years. I initially entered with a capital of 1 million, but after the first three years, I was left with only 120,000. At that time, relatives and friends advised me not to trade anymore.
But once I got that drive, I wanted to gamble with the last 120,000, and as a result, over these three years, I made 27.5 million with that 120,000. So, as long as you find a method that suits you and stick to it, you can turn things around!
Now let me talk about my winning tricks:
You need to check the market sentiment, whether the crowd is in high spirits. If the trading volume is high but the price hasn't dropped, it might be at the bottom; if the trading volume is high but the price isn't rising, it might have reached its peak in the short term.
The situation of trading volume during rises and falls is different. When rising, the trading volume must steadily increase; if it suddenly decreases, or if there is a particularly large volume, then the rise might be nearing its end. During a decline, as long as it breaks some key positions and the volume increases, the decline will continue.
You also need to keep an eye on some key positions, such as resistance levels, support levels, and trend lines. When you reach these positions, you have to act quickly. I personally like to use the golden ratio to calculate these positions.
When looking at the market, you need to have several time points. The one-minute line is good for finding entry and exit opportunities; the three-minute line is for checking how the segment performs after entering; the half-hour or one-hour line is for observing how the trend changes throughout the day.
If you have to stop loss, don’t rush to recover. A stop loss means that this trade is over, and the next one is a new beginning; don’t let the past affect you.
The final trick, simple and easy to use, even beginners can make money:
We will divide the position into three parts. When the price breaks above the 5-day line, buy one part; when it breaks above the 15-day line, buy another part; if it breaks above the 30-day line, buy the last part. You must strictly follow this. If it breaks above the 5-day line but lacks the strength to break the 15-day line and instead drops back, as long as it doesn't break below the 5-day line, we will hold steady. If it breaks below, sell immediately.
The same principle applies; after breaking the 15-day line, if it doesn't have the energy to break the 30-day line and drops back but doesn't break the 15-day line, we will continue to hold. If it breaks, sell one part first. If it breaks above the 30-day line and then drops back, sell in the same way.
When selling, do the opposite. When the price is high, if it breaks below the 5-day line, sell one part first. If it doesn't continue to drop, we will keep the rest. If the 5-day, 15-day, and 30-day lines are all broken, then don't hesitate, sell everything, and don’t think it will rise back.
This method is very simple, but the key is to be able to stick with it. Once you buy, the rules of trading are set, and you must strictly follow the rules to steadily make a profit.
In the cryptocurrency market, opportunities and risks coexist. Staying alert and finding the right timing is key. I also discovered a short-term project with huge potential for a spike! If you want to keep up, follow me for free sharing!
