Having traded cryptocurrencies for over a decade, with 7 years as a professional trader, I've experienced significant ups and downs, transitioning from debt to wealth freedom and class elevation. I've made money, lost money, engaged in various ventures like meme coins, ICOs, mining, and have faced countless pitfalls. It’s a game of long and short, but more about managing one's mindset. There are surprises and disappointments in this magical circle, a captivating place where I've summarized countless operational methods and strategies. Ultimately, there’s only one way to make money: it’s simple and brutal; buy in a bear market and sell in a bull market, guaranteeing profit.
Let me share a few ways to make a million, you can listen.
The first method:
Let me tell you a way to make a million; it's best to prepare about 100,000 to 200,000.
Convert this money into U and store it in a secure exchange.
Then set it up, buy one share every week, dividing 1-2 million funds into 96 parts. Buy once a week.
During this time, do not look, do not move, BTC.
Buy 60%. Buy ETH 30%. Buy 10% BNB.
This will be fine. Then you just wait and wait. After a cycle, or two cycles, which means 4-8 years.
Making a million is guaranteed. This is the simplest and least competitive way.
The second method:
Of course, there are other methods, such as airdrop hunting, whitelist participation, and IPOs. First, you must know programming, operate remote servers, understand English, access first-hand information, perform batch operations, and maintain extremely focused energy to pursue this.
To do this, you need a lot of learning, mastering various programming skills, which is what we call being a cryptocurrency scientist.
The third method:
This requires a bit of luck, you need to pick a coin in the early stages of a bull market that can rise more than 10 times. This takes a bit of luck, but more so it relies on your judgment. For example, how much traffic this coin has, whether there are new concepts, and who is backing it. If it's Sun Yuchen or a Chinese project, try to avoid it. The risk of being scammed is high. This requires certain analytical skills. You need to make more friends, pay others for advice, and most importantly, your understanding must keep up. You need to have decisive judgment and decision-making ability.
The above three methods are relatively certain ways to earn a million. You can see which one suits you. Are you willing to endure such suffering for profit? If you can, then take action.
The 24 trading rules summarized from over ten years of cryptocurrency trading—strongly recommended to save.
1. Capital allocation: Divide your capital into ten equal parts to ensure that the risk of a single trade does not exceed one-tenth of the total capital.
2. Set a stop-loss: Immediately set a stop-loss point when opening a position to protect investments from adverse market fluctuations.
3. Avoid overtrading: Overtrading violates capital management principles and should be avoided.
4. Protect floating profits: When floating profits exceed three basis points, set a protective stop-loss near the opening price to ensure that the principal is not eroded.
5. Follow the trend: Avoid participating in trading when the market trend is uncertain.
6. Wait and see attitude: When there are doubts, choose to wait or exit the market.
7. Choose liquidity: Trade actively traded stocks, avoiding those with insufficient liquidity.
8. Risk diversification: Diversify risk by trading multiple stocks rather than concentrating investments.
9. Order types: Flexibly use market orders and limit orders to adapt to market changes.
10. Reason for holding: Unless there is sufficient reason, do not arbitrarily end trades; consider using trailing stops to protect profits.
11. Profit accumulation: When trading goes smoothly, transfer some profits to a backup account for emergencies.
12. Avoid temptation from good and bad news: Do not overly trust the news that is disseminated, which could lead to disrupting your own plans.
13. Avoid cost averaging: Avoid averaging down by increasing positions, as this could be the biggest mistake a trader might make.
14. Patience: Avoid rushing to enter the market out of impatience or leaving too early due to lack of patience.
15. Avoid small profits and large losses: In trading, avoid ignoring potential large losses for the sake of small profits.
16. Stop-loss discipline: Once a stop-loss point is set, it should not be canceled arbitrarily unless there is sufficient reason.
17. Reduce trading frequency: Avoid frequent market entries and exits, as this may lead to unnecessary trading costs and risks.
18. Trading consistency: The willingness to go long or short should align with market trends, which is key to profitability.
19. Avoid emotional trading: Do not buy simply because the price seems low, or sell short just because the price is high; decisions should be based on market analysis.
20. Pyramid adding strategy: Appropriately increase positions when prices break through resistance or fall below support levels.
21. Currency selection: Choose small-cap stocks when going long, and large-cap stocks when going short.
22. Avoid incorrect hedging: If the currency you hold begins to decline, you should stop-loss and exit the market, rather than hedging by going short.
23. Trading plan: Do not change the trading plan arbitrarily without sufficient reason.
24. Position management: After consecutive profits, do not arbitrarily increase your position; maintain consistent risk management discipline.
As a seasoned trader, I recommend that every trader should internalize these rules; not only should they remember them, but they should also practice, experience, and reflect on them in daily trading. Through this approach, we can find our way in the uncertainty of the market and achieve long-term stable profits.