I am 32 years old this year, started trading cryptocurrencies at 22, and by 2024-2025, my capital will reach 8 figures. I have hardly experienced troublesome business dealings. I have the patience to summarize my insights; the most important point in trading cryptocurrencies is to maintain a good mindset, with skills being secondary.
1. The three steps to successful trading
Insight into trends: In the cryptocurrency market, trends are key to determining victory or defeat. By looking at 4-hour, daily, and weekly charts, we can clearly capture the market's upward, sideways, or downward trends. Remember, go long when the market is rising, go short when it is falling, and remain cautious when it is sideways; this is the first step to stable trading.
Find key levels: The market is like a bouncing ball; every jump has a take-off point and a landing point. Our goal is to enter at the take-off point and exit at the landing point, and accurately finding these key levels is crucial for achieving profits. These key levels often represent the main support and resistance levels in the market.
Capture entry signals: After determining the trend and key levels in the larger timeframe, we need to look for trading signals in smaller timeframes to accurately seize the entry timing. Everyone has different trading strategies they excel at, but regardless of the strategy, it needs to be formulated quickly and executed strictly.
2. Complete trading strategy: A successful trader must have a complete trading strategy. This includes:
Target: Clearly define the trading object.
Position: Allocate funds reasonably to avoid heavy positions.
Direction: Accurately judge the bullish or bearish trend of the market.
Entry point: Look for entry signals near key levels.
Stop loss: Set reasonable stop-loss points and cut losses in a timely manner to control risks.
Take profit: After reaching the profit target, decisively close the position to lock in profits.
Countermeasures: Plans to respond to unexpected market situations.
Post-trade: Follow-up operational plans after the trade ends.
3. Insights and discipline in cryptocurrency trading
Do not chase highs: Always stay calm and do not blindly chase price increases or drops.
Buying point is king: Only coins at the buying point are good coins; patiently wait for the appearance of significant buying points.
Mindset determines everything: Overcoming greed and fear, and maintaining a calm mindset is key to successful trading.
Focus on market signals: Do not have emotions towards any cryptocurrency or price level; only focus on market signals.
Summarize mistakes: Every mistake is an opportunity for growth; summarize and improve in a timely manner.
Control desires: Eagerness for quick success is a major taboo in trading; control your greed and desires.
Long-term strategy: Trading tests long-term profitability; formulate and execute a long-term effective trading strategy.
Patience in holding: Good cryptocurrencies need to be nurtured, and holding them patiently can yield substantial returns.
Follow the market rhythm: Listen to the rhythm of the market and dance with it to navigate smoothly within the market.
The power of compounding: Remember the miracle of compounding; as long as you maintain a good mindset and skills, compounding is inevitable.
Final battle before non-farm payrolls!!! The miracle is about to kick off with an expected return of over 10 times!! As the saying goes, when others are fearful, I am greedy!!
After this wave ends, there will be a bright future! Leave 999 impermanence on board!!
$ENA $SUI $DOGE
