I started with 10,000 and my net worth has reached 8 figures through contracts. My journey in trading cryptocurrencies is like a novel! I have summarized nine key points and now share them with all my fellow contract traders.
1. If your initial capital is not very large, for example, within 100,000, being able to capture a major fluctuation in the market once a day is already sufficient. Do not be greedy; always hold positions!
2. When encountering major positive news, if you do not sell on the same day, remember to sell when it opens high the next day. Realizing profits often becomes negative news.
3. The news and holidays are also very important. When encountering major events, adjustments (reducing positions or even going to cash) should be made in advance. Historically, whenever significant events occur, the market will inevitably experience major fluctuations. If you cannot grasp the direction in advance, then wait for the market to come and act according to the trend!
4. The strategy for medium to long-term positions must be to go in lightly, leaving enough operational space. Steady operations are the best strategy. Do not operate with heavy positions!
5. Short-term trading focuses on following the trend, entering and exiting quickly. Avoid being greedy and hesitating. When the market rises and falls significantly, find the right points to enter. If the market is not active, then go to cash and wait patiently.
6. If the market fluctuates slowly, the rebound will naturally be slow. Conversely, if the market fluctuates quickly, the corresponding corrections will also be rapid!
7. If you enter the wrong point or direction, then cut losses in time (do not hesitate to hold the position). Cutting losses is effectively a form of profit; preserving capital is the fundamental for survival in the market.
8. When doing short-term trading, you must look at the 15-minute K-line chart. Based on the KDJ indicator, you can better capture suitable entry points.
9. There are countless techniques and methods for trading cryptocurrencies, but the most important thing is the mindset.
A person's mindset is very important, and the circle can easily make you feel the ups and downs, so adjust your mindset and do not be greedy.
I have been in the market for many years and deeply understand the opportunities and traps within it. If your investment is not going smoothly and you feel reluctant about your losses, leave a 999 in the comments! I will share insights.
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