There is an old brother in the cryptocurrency circle who started with a capital of 100,000 and has now made it to 42 million. He once said something that truly enlightened me: "In this circle, most people trade based on emotions; if you can control your emotions, this market becomes an ATM." Upon reflection, this is indeed the case. Those who can hold on, take profits, and understand when to wait tend to survive the longest.
🔐 I have also summarized some mantras from my own trading experiences, which I learned after stepping into pitfalls, and I share them with the brothers and sisters still on their journey.
🟢 Entry Section: The first step for beginners is not to rush in. Understand first, then participate; start with a small position, then increase.
🔁 Sideways Section: When the market is moving sideways, it's hardest to keep people's hearts. Low-level sideways + continuously new lows: consider going in heavily. High-level sideways + frequent spikes: consider taking profits.
🌊 Volatility Section: Reduce when there is a spike, add when there is a plunge. If it stays flat for a long time without dropping, it may be building up for a rise. If it rises quickly, be cautious of a faster drop. Slow declines and grinding are often opportunities to collect chips.
📈 Buy and Sell Timing Mantra: Don’t sell on spikes; don’t buy on plunges; wait during sideways. Buy on bearish candles, sell on bullish candles. Buy early when it drops, sell early when it rises. Don’t chase in the afternoon when it rises; a drop in the afternoon may be an opportunity. Don’t panic and cut losses when stuck; sideways movement can also be nurturing.
⚠️ Risk Control Awareness Section: After a surge, there must be a pullback; don’t be led by emotions. When trends strengthen, look for support; when trends weaken, look for resistance. Never go all-in, and never gamble your life savings. Knowing when to enter and exit is more valuable than any technical skill.
🧘♂️ Final Reminder: Trading cryptocurrencies is about mindset. Technical skills are important, but they are just tools to help you stay "steady." Don’t chase after rises, don’t panic sell, and avoid greed for quick money; the cryptocurrency circle will naturally reward you.
🔧 Appendix: A few trading ideas I often use (suggested to bookmark)
📦 Oscillation Trading Method: Trade back and forth in a range, combined with BOLL and moving averages. Remember: short-term principle, take profits when available.
🚀 Breakthrough Method: Long periods of sideways trading → once there’s a volume breakout, jump in for a wave; be careful to distinguish between real and false breakouts.
📈 Unidirectional Trend Method: Once a trend is established, don’t be a warrior against the trend; wait for a pullback to trade in the direction of the trend for more safety.
🧱 Resistance and Support Method: Make judgments at key levels; if resistance holds, go short, and if support holds, go long.
↩️ Pullback Rebound Method: Pullbacks after big rises and corrections after big drops often provide short-term opportunities; but be quick and decisive.
⏰ Time-based Trading Method: Daytime market is slow, suitable for beginners to practice skills; nighttime volatility is high, suitable for experienced traders to compete on short-term rhythms.
In summary: Don’t let the market slap you in the face; first stabilize yourself. A bit of steadiness will allow the cryptocurrency circle to steadily reward you.