After five years of trading cryptocurrencies, I made 60 million. Behind every penny are blood and tears lessons! Some people ask me: 'Can you really make money trading cryptocurrencies?' I spent five years providing the answer: Yes! But the premise is that you must understand the rules. Today, I will share a few key points, this experience is worth 60 million, and I hope it helps you. #特朗普晚宴
1. Cryptocurrency: Determine the type of cryptocurrency you want to trade. For example, Bitcoin (BTC), Ethereum (ETH), etc.
2. Position: Decide how much you want to hold. This depends on your capital management strategy and risk tolerance.
3. Direction: Determine whether to go long (buy) or short (sell). This needs to be judged based on market trends and technical analysis.
4. Entry Point: Determine at what point to enter the trade. You can decide based on technical indicators, support, and resistance levels, etc.
5. Stop Loss: Set a point to exit a losing trade to control risk. Usually, a stop-loss level is set below the entry point.
6. Take Profit: Set a point to exit a profitable trade to ensure profit. Usually, a take-profit level is set at the target price.
7. Countermeasures: Develop a strategy to deal with unexpected situations. For example, measures to take when there is significant news or volatility in the cryptocurrency market. $BTC
8. Follow-up: Actions after the trade ends. For example, record trade logs, summarize lessons learned, adjust strategies, etc. $ETH
After formulating the strategy, the next step is to execute it, then wait patiently, and strictly adhere to trading discipline.
Quietly wait for the market to develop towards your expected target. Over time, there are only two results:
Loss: Summarize experiences, accumulate lessons, and become more resilient; losses are a normal trading cost, very normal.
Big Profit: Cash in, you can increase your position or adjust your stop-loss level to seek more profit.
A trading process is thus considered complete.
