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If you have been trading cryptocurrencies for over a year and haven't made a million, after reading these 10 practical tips, you still won't make money, come find me.
After over 10 years of trading cryptocurrencies, I have summarized the following ten practical tips:
1. If your capital is not very large, such as within 200,000, catching a major upward trend once a year is enough; never go all in at all times.
2. A person can never earn wealth beyond their understanding; first practice on a simulated account to develop your true mindset and courage. A simulated account can fail infinitely, but in real trading, failing once could mean losing everything, and you might stay away from the market thereafter.
3. When encountering significant positive news, if you don’t sell on the same day, remember to definitely sell on the next day if it opens high; often, positive news turns into negative news when it is realized.
4. When facing major holidays, reduce your holdings or even go to cash a week in advance; historically, the market tends to decline during holidays.
5. The medium to long-term strategy is to keep enough cash on hand, sell at highs, buy back during dips, and rolling operations are the best approach.
6. Short-term trading mainly looks at trading volume and chart patterns; actively trade in patterns that are volatile, and avoid those that are inactive.
7. A slow decline will lead to a slow rebound; a rapid decline will result in a quick rebound.
8. Acknowledge your mistakes when buying wrong, cut losses in a timely manner, and preserving your principal is the foundation for survival in the market.
9. When trading short-term, always look at 15-minute K-line charts; use the KDJ indicator to find relatively good entry and exit points.
10. There are countless techniques and methods for trading cryptocurrencies; mastering a few is enough, don’t be greedy for more.
After over 10 years of trading cryptocurrencies, I have summarized the following ten practical tips:
1. If your capital is not very large, such as within 200,000, catching a major upward trend once a year is enough; never go all in at all times.
2. A person can never earn wealth beyond their understanding; first practice on a simulated account to develop your true mindset and courage. A simulated account can fail infinitely, but in real trading, failing once could mean losing everything, and you might stay away from the market thereafter.
3. When encountering significant positive news, if you don’t sell on the same day, remember to definitely sell on the next day if it opens high; often, positive news turns into negative news when it is realized.
4. When facing major holidays, reduce your holdings or even go to cash a week in advance; historically, the market tends to decline during holidays.
5. The medium to long-term strategy is to keep enough cash on hand, sell at highs, buy back during dips, and rolling operations are the best approach.
6. Short-term trading mainly looks at trading volume and chart patterns; actively trade in patterns that are volatile, and avoid those that are inactive.
7. A slow decline will lead to a slow rebound; a rapid decline will result in a quick rebound.
8. Acknowledge your mistakes when buying wrong, cut losses in a timely manner, and preserving your principal is the foundation for survival in the market.
9. When trading short-term, always look at 15-minute K-line charts; use the KDJ indicator to find relatively good entry and exit points.
10. There are countless techniques and methods for trading cryptocurrencies; mastering a few is enough, don’t be greedy for more.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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