In these years in the crypto world, I have accumulated about a million in profits, with a principal of 80,000, and I have been trading cryptocurrencies full-time for 10 years. During this time, I have experienced quite a few ups and downs, but I truly made big money relying on two rounds of bull market opportunities. Here are some of my experiences and lessons:
1. Control the risk of each trade within 10% of the principal; I do not recommend beginners to take risks, it is best to keep the risk between 2%-5%.
2. Once you enter the market, do not close your position due to short-term fluctuations or impatience; the market needs time to prove itself, and you must have patience.
3. Execute according to the trading plan to avoid overtrading, as this can lead to mistakes.
4. After making a profit, gradually adjust your take-profit and stop-loss levels, and boldly follow market trends to maximize your gains.
5. Never cancel your stop-loss point; this can effectively control risk.
6. I do not recommend adding positions when the market is favorable, as greed often leads to significant risks.
7. Transitioning from long to short positions requires a high level of skill; not everyone is suited to switch positions arbitrarily.
8. Even when trading feels easy, do not easily increase your positions; overconfidence can lead to significant mistakes. These insights are experiences I have summarized from years of struggle in the crypto world, and I hope they help you.
Many people compare trading in the crypto world to gambling, believing that once you are involved, it is hard to quit, not realizing that these individuals have had a deep-rooted gambler's mentality from the start. Investing in cryptocurrencies is not gambling; it is like exploring, which is not equivalent to taking risks.
It is precisely because of the existence of such high risks that you should not only think about getting rich overnight; such low-probability events will only disturb your mindset. Strictness, caution, and discipline are the qualities you need to possess.
Treat crypto investment as a job, regulating your trading with the discipline of going to and from work every day. Shed the gambler's greed and adopt the devotion of a pilgrim, and you can walk far and long on the path of crypto investment!
Pay attention to: SOPH RPL SYRUP
