How to turn 100,000 into 10 million? My path to success!
Hello everyone, I am a post-90s individual who stumbled into the cryptocurrency industry in 2018. At first, I lost hundreds of thousands, just like gambling. But later, I began to study seriously, searching for information everywhere, learning relevant knowledge, and continuously improving my skills. After a few years of ups and downs, I finally welcomed a turning point in 2023. I started my journey to success. In just over two years, I turned 100,000 into an eight-figure sum!
Core Principles - Three Don'ts of Cryptocurrency Trading:
Avoid buying during price surges: When market sentiment is high, prices are often inflated. Instead, buy during market corrections or downturns, leveraging market fear to acquire assets at low prices.
Diversify risks: Don't put all your funds into one cryptocurrency. Diversified investments can spread risks; even if one cryptocurrency performs poorly, it won't deal a fatal blow to your overall investment.
Control position size: Full position trading can limit your flexibility. Keeping a certain amount of cash reserves allows you to quickly adjust your strategy when market movements don't align with your expectations.
Six Rules for Short-term Cryptocurrency Trading:
New highs often follow consolidation at high levels, new lows often follow consolidation at low levels: Consolidation at high prices usually indicates a new round of increases, while consolidation at low prices may lead to further declines. Wait for the trend to clarify before acting.
Do not trade during sideways movements: When the market lacks a clear direction, the best approach is to observe patiently until the trend becomes clear.
Buy on bearish candles, sell on bullish candles: A contrarian strategy, buying when the market is generally bearish and selling when the market is generally optimistic, reduces the risk of chasing highs and panic selling.
Judge the rebound strength based on the speed of decline: Rapid declines are often accompanied by quick rebounds, while slow declines may lead to more moderate recoveries.
Pyramid-style position building: Gradually increase your holdings, especially when prices drop, to reduce costs and lay the foundation for future profits.
After sustained increases and decreases, a sideways movement is inevitable: Long-term price movements will always go through a consolidation phase with smaller price fluctuations. At this time, it is not advisable to rush in and out; wait for the next trend signal.
If you want to delve deep into the cryptocurrency world but can't find a direction, want to quickly get started and understand the information gap, follow me for first-hand news and in-depth analysis!
