Can you make 1 million in the cryptocurrency world within a year?
My answer is yes, but you have to use the right strategy.
I would like to share with you a simple yet very practical trading strategy that I have been using:
1. Divide your available funds into five equal parts. If you have 10,000, split it into five parts, using 2,000 for each trade.
2. Use one part of the funds to buy a cryptocurrency at the current price.
3. If the price of the cryptocurrency drops by 10%, buy another part.
4. When the price of the cryptocurrency rises by 10%, sell one part.
5. Repeat the above steps until all funds are used up or all coins are sold.
With this strategy, once you buy in, you don't have to worry even if the price drops because we will continue to buy when the price falls. In fact, if all five parts of the funds are used up, the price has likely dropped by nearly 50%. Unless there is a market crash, the price will not drop that quickly.
From a profit perspective, each time you sell, you can achieve a 10% profit. Taking a total fund of 100,000 as an example, if you use 20,000 each time, then each sale will yield a profit of 2,000.
However, this strategy also has some issues. A 10% fluctuation is relatively large, which may lead to trades not being executed easily, requiring a longer waiting time. This can affect the efficiency of fund usage, as funds may remain idle for a long time or be tied up in specific coins.
However, this issue can be resolved by reducing the fluctuation range. For example, you can choose to buy more stable cryptocurrencies and invest in Binance financial products when funds are idle. This way, you can earn additional returns while waiting for price changes.
The SUI long I did a couple of days ago has also made a profit, and I have gained a 'die-hard fan'.
Daily trading continues to be profitable. For friends who are confused and want to make a comeback, just go for it!!
