Friends entering the crypto space must carefully read the entire article. Even if this article doesn't help you make money, it can help you avoid losing a lot!
Don't try to make money through low-level speculation; any trading and speculation requires a lot of trading training and experience to improve the tiny winning rate. If you think you can come into a circle and make money without knowing anything, I can only say you are foolish.
For example: if you want to set up a roadside stall (selling small goods, selling barbecue), you need to run around and learn experiences, understand the foot traffic of an area, and know the consumption level nearby. Understand when some mysterious organization will come to check the stalls. You need to carefully choose the most fashionable styles and consult on tasty seasoning recipes for barbecues. Even if business is good, you might only earn a few hundred a day; trading, on the other hand, just requires a click of a finger. Do you really think you can easily earn tens of thousands, hundreds of thousands, or millions? Enough talk, let's get to the main points!
1. Indicators are useful! Extremely useful!!!!!!!!!!
Many big shots who follow the news will tell everyone that even a fool can make money by following the news. For example: a certain capital buys a lot of Bitcoin and Ethereum, a certain institution unloads a lot, or a certain ETF has net outflows or inflows. But I want to emphasize the timeliness here!
Everyone might want to think about whether you only realize the institutions are offloading after the market has crashed? Even if you are very lucky and the direction you opened aligns perfectly with good or bad news, when do you take profits? When do you exit? How do you know when institutions have finished unloading? How do you know when institutions have finished sweeping? Ultimately, you will find that indicators can help you see significant volume shrinkage, and that clearly one side of the market is winning while the other side cannot hold.
So can I think this way: opening a position when the market is about to lose balance can generate significant profits! Will the probability of profit increase!
Let me give an example with this month's CPI! After the CPI data was released on August 30, everyone thought it was bad news, but Bitcoin pulled back 2% in the opposite direction before continuing to drop. Everyone might want to think about whether you could withstand Bitcoin's 2% volatility without hitting stop-loss while shorting on August 30 based on the news? In short, I couldn't handle it. Not to mention the mentality of a 100X trader, it is impossible for me to not hit stop-loss at -40% profit with 20X. The subsequent market crash made me feel like I was losing my mind (the former me).
As for how to learn indicators, there are many videos online you can refer to. It’s important to combine your practical experience in trading with the indicators and parameters that suit you best. I currently only use MACD and RSI.
Just to ramble a bit, I have taken many detours while learning indicators. I have almost learned all the high-win-rate indicators from the big shots on YouTube. I can only say that the indicators of the big shots definitely cannot outperform Martingale. If you want to get started quickly, directly refer to some basic quantitative or Martingale strategy parameters to understand their operating principles. Deeply understanding Martingale is the real entry point for becoming a trader.
I have written very detailed content on simple indicator usage in my previous articles; you can refer to them.
2. No one will genuinely share their money-making strategies.
If you are trying to make money easily through a few articles or by following a big shot, consider asking your wealthy friends if they are willing to guide you. The crypto space has more scammers than players. The very few who make money from trading are quite rare; the vast majority make money by cutting down on retail investors. For example, I write this article not to promote myself as very experienced and impressive, but to make you, who are looking for shortcuts, pay me for knowledge.
If you don’t want to be a victim and get scammed, honestly start learning from indicators and news analysis. It is very foolish to entrust your fate to others. For example: I blew up my account, but I still have a house to sell, a car to sell, and I still have a chance. What about you? After blowing up, do you still have funds to turn around? Are you in debt trading cryptocurrencies? Wouldn't the first thing you think of be: at this point, the biggest disappointment is only...
The strategies that truly make money are always those you discover yourself. Is there really a shortcut to making money? Is there really a way to know early? More often, what you know now is the biggest disappointment only...
Next, let's move on to the third main point, which is written for friends who are patient enough to read this article.
3. Position management is more important than taking profits or stop-loss.
Share personal insights: I always keep half of my position, whether it's 20X or 10X, it's always half a position. My stop-loss position is always -100%. However, this may not be suitable for everyone because I am an old trader, and my entry points are very tricky.
The purpose of position management is to allow you to have the possibility of turning around after setbacks. Just like I mentioned in the first point, after the CPI data was released on August 30, because you are using half a position, you are likely to withstand it; if you were fully invested, you'd probably hit stop-loss. Position management enhances your ability to withstand pressure while also amplifying your profit potential.
For example: when your full position loses 50%, you will be sweating and your operations will be distorted. You are afraid to stop-loss because you don’t want to drop back to the original position, yet you are afraid to hold because you might get blown up. But with half a position, this problem doesn’t exist; you can confidently yell in the group: ‘Go ahead, blow me up!’
Don't you think position management allows you to cope with highly volatile markets more easily? In short, those who open positions fully are either foolish or stupid.
Another important factor in good position management is that if you are in a profit state, you can consider adding to your position with floating profits.
So, don't we still have half of our capital left when we lose, and when we profit, we can add to our position with floating profits? Isn’t that much better than just waiting for the result after opening a full position?
4. Holding time
I am a short-term player with 10-20X leverage, so my holding period usually does not exceed two hours. However, I see many players who actually make money have an average holding period greater than 24 hours. I prefer beginners or new players to engage in short-term trading; firstly, it can train their indicators and experience, and secondly, it allows them to start by making small profits. It's best to avoid overly high risk and excessive desire.
I usually open positions from 7:30 to 10:30 in the morning and from 7:30 to 12 at night. The data shows that these two time periods have larger fluctuations and better market conditions. Because Bitcoin has also been following the US stock market for the past two years. Consider this a little common knowledge.
In other words, my strategy is based on using 5MIN, 15MIN, and 30MIN candlesticks. I only use the larger timeframe candlesticks for directional reference.
My philosophy is: Bitcoin is trading 24/7, and with leverage, the volatility is significant, so I do not recommend holding positions overnight because there can be overwhelming news impacting the market at any moment. I prefer to open positions using technical analysis rather than relying on luck and probability.
I can earn a little less, but I can't accept inexplicable losses. Maybe it's a bit tricky, or maybe I'm just a novice trader, or more likely because my assets are not as solid as the big shots. However, I represent ordinary players, so small position players following my thinking are basically correct.
Big shots hold millions of dollars, opening 10WU five times the position, they can hold on forever; there will always be a day when they make money. But you and I are different; we try to slowly increase our capital and be a bit more cautious.
PS: I saw a live stream of Ouba's real account 100WU on YouTube, and it went to zero in a month. It was indeed shocking. Witnessing a million-dollar big shot go to zero for the first time is very impactful.
This is a picture I casually took. Don't think I am a big shot; I can change this picture to whatever amount you want. In the future, please report anyone who shares images or videos like this. You can easily edit it using browser F12; you can earn as much as you want.
The opportunity has come, assets doubled! Follow Biao Ge closely and easily make big money.
Stay tuned: SPK, FIDA
