I have been trading cryptocurrencies for 10 years and made 30 million with the simplest trading method.
Specific methods:
1. Buy mainstream value coins in large quantities, spot trading (do not engage in contracts), regardless of their rise or fall, hold for the medium to long term based on entry price, combined with rolling warehouse strategies (adding or reducing positions).
During a major market crash, do not panic if the four-hour chart does not break the 20-day line, for several reasons:
a. Contract explosion: If you don't have a solid foundation, don't easily engage in contracts; the data is completely different from spot trading. Protecting your principal allows you to continue enjoying the benefits of a bull market!
b. Pullback demand: After a sharp increase in mainstream value coins, there's usually a pullback to the five-day line after a gap up, and often to the ten-day line, before accumulating energy for further rises!
c. Cutting leeks: Retail investors tend to chase highs and sell lows. After retail investors chase high, the market makers will quickly drop the price to scare retail investors into selling their positions.
2. For profitable trades, reduce positions in advance, or gradually sell at high points to lock in profits;
3. Place orders in advance at the 5-day line, 10-day line, and 30-day line in batches to buy at lower prices.
4. Use life line strategies to determine the trend of rises and falls. If the trend changes and effectively breaks down, reduce positions promptly during a pullback to the life line.
5. During a sharp rise, always maintain risk awareness; do not blindly chase highs. During a sharp drop, be aware of opportunities and gradually buy at low points.
6. For profitable positions, reduce them appropriately to avoid rollercoaster trading. For bottom-fishing trades, it’s advisable to set stop-loss orders to protect your principal.
7. If the direction is unclear, it’s better to miss an opportunity than to make a wrong move. Protect your principal to enjoy longer-lasting profits.
8. New members in the crypto space should not rush to make money, and should especially avoid greed. First, learn seriously, follow trades, practice skills with small funds, familiarize yourself with the price movements of cryptocurrencies, and develop a market sense to reduce transaction costs during learning and practice!
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