Shorting at high positions and going long at low positions is undoubtedly fatal; this is a dead end, with no solution.
If you are losing money in cryptocurrency trading, hold altcoins in spot trading and trade mainstream contracts for guaranteed profits.
After over 10 years of trading cryptocurrencies, I incurred significant losses in the first three years, with debts of 8 million. After self-adjustment, I achieved financial freedom in the last 7 years, maintaining compound growth with a monthly income in seven figures and an annual income in eight figures!
Today I will share the essence of my trading.
In fact, it is very simple: cut losses when wrong, hold when right, small losses, big gains, and manage large profits and losses. Specifically, for each core link:
1. Trend Following: Find a simple moving average to distinguish between long and short positions; go long above it and short below it.
2. Test Position: Trade with the trend, following the major trend while countering the minor trends. Entry must consider a sufficiently large risk-reward ratio; if entering at this position, if wrong, the stop loss is small, but if right, the profit is substantial, usually at the trend bottom or early in the trend.
3. Test Position Stop Loss: If a key point is broken, stop loss must be executed; no room for luck. If the price returns, look for opportunities to enter again. Do not have a mindset of luck, thinking you can hold out or hoping to average down losses.
4. Increase Trend Position: Add to positions when in profit; adding positions is key to making big money. After a price increase as expected, wait for a pullback to a support level or a breakthrough of previous highs to add positions—following the major trend and countering the minor trends.
5. Set Stop Loss for Trend Positions: For newly added trend positions, move the stop loss to the new key point. The base position is already safe; only the risk of the added positions remains. If it fails, stop loss on added positions, waiting for the next opportunity. If it continues to rise, hold firmly, continue waiting for a pullback to add positions, and keep moving the stop loss until the last move triggers a stop loss or a head signal for profit-taking appears.
6. Take Profit: Never easily take profit at any time; this is key to making big money. Exiting can be done in batches or at once, preferably all at once, as it allows you to wait for the highest probability head signal.
If it is a right-side trade, floating profits will definitely pull back; you must accept this mentally. Do not think about selling at the highest point, or if you didn't sell at the highest point, feeling that you’ve lost and must wait for the highest point to sell.
I believe you also went long at the bottom; if it were you, could you hold this position?
The next 10x coin is being positioned.
Follow: mask, trb, wct
