I have been in the cryptocurrency circle for a full ten years, and during this decade, I have tasted all the ups and downs.
It was not easy to save up 8 portions of my capital, so today I want to share my unique skills!
First, in the cryptocurrency world, the security of funds is the hard truth. You must learn to divide your money into five portions and only use one portion for risk at a time. This way, even if you lose, it won't be a devastating blow.
Second, if you make a mistake, you must stop losses immediately and never drag it out. That way, even if you are wrong five times, you will only lose about 10%. But if you are right, you must set profit-taking levels to avoid losing your gains. Remember, following the trend increases your winning chances.
Third, during a downturn, do not rush to catch the bottom, and do not fear the highs during an uptrend. Because the rebounds during a decline are often bait, while the pullbacks during an uptrend are the real deal. Those cryptocurrencies that skyrocket in the short term are like fireworks; they look good but are not useful.
Fourth, if the price of a coin rises to a high position but then stagnates, it is bound to drop afterward. The MACD indicator is quite useful; it can help you determine when to buy and when to sell. A golden cross breaking above the zero axis indicates a new opportunity; if it crosses and remains flat, you need to reduce your position quickly.
Fifth, remember, never add to your position when you are losing money; that is jumping into a fire pit. Adding to your position when making money is the way to go.
Sixth, trading volume is the lifeblood of the cryptocurrency world. If there is a breakout with high volume at a low position, that is an opportunity; if there is high volume at a high position but no movement, you need to be cautious. Only trade cryptocurrencies in an upward trend to increase your chances of winning.
Seventh, from short-term to long-term, you need to learn to observe the turning points of different moving averages to catch the pulse of the trend.
Eighth, finally, it's important to persist in reviewing your trades. You need to check if the logic of the cryptocurrencies you hold still stands and adjust your trading strategies. This way, you can thrive in the cryptocurrency world.
# Which altcoin ETF do you think will pass?
Recently, I plan to position myself for a potential coin that is about to explode; doubling my investment should be quite simple. At the same time, I am looking for some potential coins to hold until the end of the year, expecting a return of over 10 times is not a problem. If you want to follow along, like + leave a message, and I will share for free. $BNB