Let me share a feasible plan. If you can execute it, making 1 million is achievable.
1. Work hard for two months to increase your capital to around 10,000.
2. Buy coins when Bitcoin's weekly price is above MA20, purchasing two to three new coins, particularly hot coins during a bear market, like APT before it rises. As long as Bitcoin goes up a bit, it can take off, like OP. Remember to look for coins with momentum and a story.
3. Stop loss if Bitcoin falls below MA20; continue to make money while waiting or buying during this time, allowing yourself two to three chances to fail. If you have 20,000 in savings, invest 10,000; you can afford to fail three times.
4. If you buy coins like APT, aim to sell when they reach around 4-5 times their value. Consistently execute your strategy; remember you are working with small funds, so focus on new coins, avoiding ETH and BTC. Their price increases won’t support your ambitions.
5. If you transition from a bear market to a bull market, achieving three 5x returns would total about 125x. This could take anywhere from a year to three years. You have three chances to fail; if you fail all three times, it indicates a lack of ability, and it's wise to stay away from this circle, avoid investments, and especially steer clear of contracts. Invest your energy into your job, cultivate your hobbies, enhance your skills, and focus on earning money through work. When you are more mature and stable, around your thirties, you can try investing again like in a bear market similar to 2022, with 20,000, and follow the methods above.
If you still haven't succeeded, then settle down and work, staying away from the crypto world. The most important aspect of the above methods is patience; if you lack patience and lose your footing, exit as soon as possible, and avoid contract trading.
In summary, remember to enter the market when you should and stop loss when necessary; have patience. The secrets have been shared with you; whether you can become famous in the field depends on yourself.
The above is an executable plan to earn your first pot of gold in the crypto world, along with the upcoming trends and rhythms in the crypto market. Once we understand these, earning your first pot of gold becomes simple; just go with the trend and follow these iron rules + open positions based on chart patterns!
If you also want to treat crypto trading as a second source of income, want a piece of the pie in the crypto world, and are willing to spend time growing and learning, then don’t miss this article. Read it carefully; each point is the essence of the crypto world.
Beginner in crypto trading
First, remember this phrase: in crypto trading, mindset is more important than technique. Make money in a bull market, accumulate coins in a bear market, don’t cut losses in a bull market, and hoard coins in a bear market!
1: Coin Hoarding Method
Suitable for bull and bear markets. The coin hoarding method is the simplest yet the hardest strategy. It is the simplest because it involves buying a certain coin or a few coins and holding them for more than half a year or a year without trading. Generally, the minimum returns are tenfold. However, beginners often see high returns or encounter a price drop and consider switching or exiting; many find it difficult to hold without trading for even a month, let alone a year. Therefore, this is actually the hardest.
2: Bull Market Dip Buying Method
Only suitable for bull markets. Use a portion of spare cash, preferably no more than one-fifth of your funds. This method is suitable for coins with a market cap between 20-100, as they won't be stuck for too long. For example, if you buy your first altcoin and it rises by 50% or more, you can switch to the next coin that is in a significant downturn, and repeat this cycle. If your first altcoin is stuck, just wait; a bull market will definitely help you break even. The premise is that the coins shouldn't be too risky, and this method is also hard to control, so beginners need to be cautious.
3: Hourglass Switching Method
Suitable for bull markets. In a bull market, basically any coin you buy will rise. Funds act like a giant hourglass slowly seeping into every coin, starting with the large coins. There is an obvious pattern in coin price increases: the leading coins rise first, such as BTC, ETH, DASH, and ETC, followed by mainstream coins like LTC, XMR, EOS, NEO, and QTUM. Then, coins that have not risen will see a general increase, such as RDN, XRP, ZEC, etc., followed by various small coins taking turns to rise. However, if Bitcoin rises, you should choose the next tier of coins that have not yet risen to start building your position.
4: Pyramid Bottom Buying Method
Suitable for anticipated major downturns. Bottom buying method: place orders to buy one-tenth of your total position at 80% of the coin's price, one-fifth at 70%, one-third at 60%, and one-fourth at 50%.
5: Moving Average Method
You need to understand some basics of candlestick patterns. Set the indicator parameters to MA5, MA10, MA20, MA30, MA60, and select a daily chart. If the current price is above MA5 and MA10, hold steady. If MA5 falls below MA10, sell the coin; if MA5 rises above MA10, buy and build your position.
6: Aggressive Coin Hoarding Method
Focus on coins you are familiar with; this is only suitable for high-quality long-term coins. Have some liquid funds; if a coin is currently priced at $8, place an order to buy at $7. Once your purchase is executed, place an order to sell at $8.8. Use the profit to hoard coins. Take out your liquid funds and wait for the next opportunity. Adjust dynamically based on the current price. If there are three such opportunities in a month, you can accumulate a lot of coins. The formula is: entry price = current price × 90%, sell price = current price × 110%!
7: ICO Aggressive Compounding Method
Continuously participate in ICOs; when a new coin rises by 3-5 times, take back your capital and invest in the next ICO, keeping the profits and continuing the cycle.
8: Cyclic Band Method
Look for coins like ETC, which are underperforming, and increase your position while the price is continuously falling. Buy more as it drops, then wait until you make a profit to sell, continuously cycle through.
9: Aggressive Small Coin Strategy
If you have 10,000 RMB, split it into ten parts, buying ten different types of small coins, preferably priced under 3 RMB. Once purchased, don’t worry about them. Don’t sell until they triple to five times their value; if stuck, don’t sell either; just hold for the long term. If a coin triples, take back your initial investment of 1,000 RMB and invest in the next small coin. The compounding returns can be incredible!
The above methods are suitable for beginners; it is recommended to study slowly! Choose a method that suits you. After building your position, just hold on steady. If you're not making money, don't sell; if you're stuck, you need to hold even more steady and don't cut losses.
