From novice to cryptocurrency expert, it all depends on these ten golden rules
Haven't achieved your small goal of 1 million after years of trading? Don't panic! Today I will share the ten secret tips that I have kept under wraps. If it doesn't work after following them, come find me!
1. Capital management: When funds are limited, be sure to budget carefully. Catching a major bull market once a year is enough; never go all in, keep enough cash for emergencies.
2. Enhance understanding: Your level of understanding determines your ability to make money. If you don't understand, you won't earn. Simulated trading can help you practice, but when trading with real money, the psychological pressure is completely different.
3. Realizing profits: When there is good news, if you haven't sold on that day and the price opens high the next day, withdraw quickly. When good news comes out, everyone wants to sell, and prices will naturally fall.
4. Holiday risk avoidance: As holidays approach, reduce your position or liquidate a week in advance. Market activity is low during holidays, and price fluctuations are large.
5. Medium to long-term strategy: For medium to long-term trading, you must keep funds on hand. Sell when it rises, buy when it falls, which can lower costs and allow for flexible strategy adjustments.
6. Short-term coin selection: For short-term trading, choose coins that are actively traded. Forgotten coins can easily trap you.
7. Price fluctuation patterns: Coins that fall slowly will usually rise back slowly, while those that drop sharply often rebound quickly.
8. Strict stop-loss: If you buy the wrong asset, decisively stop-loss; don't hold onto false hopes waiting for a price recovery. Protecting your principal is key.
9. Short-term indicators: For short-term trading, refer to the 15-minute candlestick chart, using KDJ indicators to find buy and sell points. KDJ signals are very accurate when overbought or oversold; also pay attention to MACD, RSI, and other indicators.
10. Simplified techniques: There's no need to be greedy with technical analysis; mastering a few techniques is sufficient.