If you have been trading cryptocurrencies for over a year and haven't made a million, after reading these 10 practical tips, you still won't make money, come find me.
After more than 10 years of trading cryptocurrencies, I have summarized the following ten practical tips:
1. If your capital is not very large, such as within 200,000, catching a primary rising trend once a year is enough, and never go all in at all times.
2. A person can never earn wealth beyond their understanding; first, use a demo account to practice your true mindset and courage. A demo account can fail infinitely, but in real trading, one failure might be everything for you, even leading you to stay away from the market.
3. When encountering significant positive news, remember to sell on the next day's high opening if you haven't sold on the same day; good news often turns into bad news when realized.
4. When facing major holidays, reduce your positions or even go to cash a week in advance; historically, markets tend to drop during holidays.
5. The medium to long-term strategy is to keep enough cash on hand, sell at high prices, buy back during dips, and roll over operations as the best approach.
6. Short-term trading mainly looks at trading volume and charts; trade actively fluctuating patterns, and avoid inactive ones.
7. If the decline slows down, the rebound will also be slow; if the decline accelerates, the rebound will be quick.
8. Acknowledge when you've made a wrong purchase, stop-loss in time, and preserving your principal is fundamental for survival in the market.
9. Always analyze the 15-minute K-line chart for short-term trades, and use the KDJ indicator to find relatively good buying and selling points.
10. There are thousands of techniques and methods for trading cryptocurrencies; mastering just a few is enough, do not be greedy.