How to make 1 million in the cryptocurrency market with 10,000 dollars. Turning an initial capital of 10,000 dollars into 1 million is all about experience. Here are 9 tips to help you earn your first million!
1. If your initial capital is not very large, for example, within 100,000, capturing a major volatility in the market once a day is sufficient. Don't be greedy and always hold positions!
2. When encountering significant positive news, if you don't sell on the same day, remember to sell the next day at a higher opening. Positive news often turns into negative news when realized.
3. News and holidays are also very important. When encountering major events, adjustments should be made in advance (reduce positions or even go to cash). Historically, major events always lead to significant market fluctuations. If you can't grasp the direction in advance, then wait for the market to come and follow the trend!
4. For medium to long-term strategies, always enter with light positions, leaving sufficient operational space. Steady operations are the best strategy; avoid heavy positions.
5. Short-term trading focuses on following the trend, entering and exiting quickly. Avoid being greedy or hesitant. Look for suitable entry points during big ups and downs. If the market is stagnant, stay in cash and patiently wait.
6. When the market fluctuates slowly, rebounds are also slow. Conversely, when the market fluctuates quickly, corrections happen rapidly!
7. If you enter at the wrong point, cut losses in time (do not hesitate to hold the position). Cutting losses is a way of making profit; preserving capital is fundamental to survival in the market.
8. Always look at the 15-minute candlestick charts for short-term trading. The KDJ indicator can help better capture suitable entry positions.
9. There are countless techniques and methods for trading cryptocurrencies, but the most important thing is your mindset. A person's mindset is crucial; the cryptocurrency market can easily make you feel the highs and lows, so adjust yourself.