The cryptocurrency market went from 50,000 to 3.58 million; just remember these few sentences!
1. Short-term
1. Focus only on the top ten mainstream cryptocurrencies daily, based on current market hotspots, news, daily MACD golden cross, BOLL contraction/expansion, combined with market trends, and comprehensively consider the selection of highly volatile varieties for trading.
2. Manage your position well:
Divide 50,000 into 20%, which is 5 parts, and take one part to build a position each time. 3. Never go all-in; at most 50%, always leave 50% as a buffer for waiting for opportunities.
4. Do not make more than 3 trades in a day; control your hands.
5. Never average down; if you enter and are down 30%, withdraw promptly; this indicates that your entry point is wrong.
6. Set a stop loss at 30%; if it breaks, close the position unconditionally; do not hold onto losing positions.
7. Never fall in love with candlesticks; enter and exit quickly, remember!!
8. Go with the trend; the trend is king; only trade mainstream, not small-cap knockoffs!
2. Cryptocurrency life-saving mantra (recommended to memorize)
1. Don't rush to flee when there is a big drop in the morning; usually, there will be a bounce back in the afternoon! 2. When there is a big rise in the afternoon, reduce your position; there is a high probability of a pullback at night! 3. If the volume rises, it will continue to rise; if the volume drops, it will continue to drop. 4. Major meetings or positive news will usually cause a rise; once it materializes, it will drop.
5. If there is a continuous big drop during the day in China, it's time to buy the dip; at 21:30, foreigners will pump the market.
6. The key element signal when buying and selling is the spike; the deeper the spike, the stronger the buy and sell signal.
7. When you are heavily invested, you will definitely get liquidated; why? You are on the exchange's watchlist for liquidation.
8. After your short position's stop loss is triggered, it will definitely drop; if it doesn’t trick you out or blow up, how can it drop? For example, TRB. 9. When you are about to break even, just a little more, and the rebound suddenly stops, how can they let you close and run?
10. When you take profits, it becomes a pump; if you don’t exit, how can they pump it? The position is too heavy.
11. When you are excited, the waterfall will arrive as expected; your excitement is also bait from the big players.
12. When you are broke, every project seems to be rising, causing you to FOMO and rush to enter. So you understand, the market is manipulated more than 80% of the time; besides controlling your position, you must also strike first. Clearly, before the big players act, do not enter the market; once you do, you are the fish on the chopping block. Trading is a test of patience, determination, and timing.
