From 50,000 to 500,000, I used the dumbest coin trading method, and my winning rate has reached 100%! A must-watch for all new and old investors!
First, when making money, you must protect your profits. For example, if you buy a coin and it rises by more than 10%, you need to be cautious. If it later falls back to your purchase price, sell it immediately without hesitation. If you make a 20% profit, then you should set a rule: you can only sell if your profit is no less than 10%, unless you are certain this is a temporary high point; otherwise, do not sell easily. Similarly, if you make a 30% profit, you must at least protect 15% of your profit before selling. This way, even if you don't have the technical analysis to determine the high point, you can still let your profits grow on their own.
Second, when losing money, you must decisively cut losses. If you buy a coin and it drops by 15% (you can set this number yourself, but 15% is a suitable reference), you need to quickly cut your losses and exit. This is to stop the loss in time and not let yourself fall deeper. If it rises afterward, that’s okay; it just means you chose the wrong entry point this time, which is a mistake in trading, and mistakes come with costs, which is the loss. Remember, you must set a stop-loss every time you open a position; this is a necessary condition for trading coins.
Third, if the coin you sold drops, buy it back at the original price. If you sell a coin and it drops, but you are optimistic about it, then buy back the same amount of coins. This way, the quantity of your coins remains unchanged, but you have more cash on hand. If it doesn’t drop much after you sell and you don’t buy back, then if it rises back to your selling price, you must buy it back unconditionally.
Although doing this may waste some transaction fees, it can avoid many risks of missing out. This principle can be combined with the stop-loss principle: buy back when it rises to the original price, and stop-loss if it drops again. If you operate this way multiple times and find that the price of this coin is consistently unstable, then you need to choose a new entry point.
In summary, short-term trading of coins must adhere to principles. Quick entry and exit do not equal random maneuvering, chasing hot trends does not equal reckless behavior, taking profits does not equal cowardice, and holding cash on the sidelines does not equal quitting the crypto space. Do not get too caught up in finding the lowest and highest price points.
Follow Ah Chuang for free sharing. Recently, I plan to ambush a promising coin that is about to explode, doubling is quite simple, and an expected space of over 10 times is not a problem.#BTC
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