In 2015, I accidentally came across the cryptocurrency trading industry. At first, I lost hundreds of thousands just like gambling. But later, I began to study seriously, researching everywhere and learning relevant knowledge.
Keep learning and continuously improve your abilities. After several years of ups and downs, I finally welcomed a turning point in 2024. I started my comeback journey. In just over two years, I turned 100,000 into eight figures!
Core Principles - Three Don'ts in Cryptocurrency Trading:
Avoid buying during price increases: when market sentiment is high, prices are often inflated. Conversely, buy during market corrections or declines to take advantage of fear in the market to acquire low-priced assets.
Diversify risk: do not bet all your funds on one cryptocurrency. Diversified investments can spread risk; even if one cryptocurrency performs poorly,
and will not deal a fatal blow to overall investment.
Control Position Size: Full position trading limits your flexibility. Keeping a certain amount of cash reserves allows for quick strategy adjustments when market trends differ from expectations.
Six Rules for Short-term Cryptocurrency Trading:
New highs often follow high-level consolidations, and new lows often follow low-level consolidations: high-level consolidations usually indicate a new round of increases, while low-level consolidations may welcome
it may lead to further declines. Wait for the trend to become clear before taking action.
Do not trade during consolidation: When the market lacks a clear direction, the best practice is to observe quietly until the trend is clear.
Buy on bearish candles, sell on bullish candles: a contrarian strategy, buy when the market is generally bearish, sell when the market is generally optimistic, reducing the risk of chasing highs and cutting losses.
Assess the rebound strength based on the speed of decline: rapid declines are often accompanied by rapid rebounds, while slow declines may lead to more moderate recoveries.
Pyramid-style position building: gradually increase your holdings, especially increase purchases during price declines to lower costs, laying the foundation for future profits.
Foundation.
After continuous ups and downs, there must be a consolidation: after long-term price movements, there will always be a consolidation period with small price fluctuations. At this time, it is not advisable to rush in and out, wait for the next trend signal.
Signal.
