$ETH 35 years old, trading cryptocurrencies for 10 years, my true insights from losses to an eight-figure asset!
From 25 years old to now, I've been trading cryptocurrencies and have hardly engaged in any business that required disputes with others. I have fewer worries in life, and my wealth has also grown to eight figures. However, what truly made me money was not the trading techniques, but the mindset!
My cryptocurrency trading insights:
1. Bitcoin is the barometer of the crypto market; most of the time when it rises, other coins follow suit. Strong coins like ETH can occasionally fly solo, but altcoins generally cannot escape BTC's control;
2. The price trends of Bitcoin and USDT are opposite. When USDT rises, it usually means BTC is going to fall, so holding USDT will be safer. Conversely, when BTC is rising, it’s a good time to accumulate USDT;
3. Price 'spikes' often occur between 12 AM and 1 AM. You can place low buy and high sell orders before sleeping; you might wake up to completed trades, making easy profits;
4. The time between 6 AM and 8 AM is an important window for judging intraday trends. If the market has been declining overnight, continuing to drop during this period is a buying or averaging opportunity; conversely, if it has been rising all night, and continues to rise during this time, it’s advisable to reduce positions as the market may pull back;
5. Pay special attention at 5 PM; American traders wake up and become active, often increasing market volatility, and major trends frequently emerge during this timeframe;
6. There is a legend of 'Black Friday' in the crypto world, but it is not an absolute rule. Friday's market can sometimes crash, sometimes rise, or move sideways; just keep an eye on any news, no need to worry too much;
7. If you’re stuck with a coin that has a certain trading volume, don’t rush to cut losses. Most will recover, taking as little as 3-4 days or as long as about a month. If you have extra funds, you can average down to speed up recovery unless you hit a completely worthless coin;
8. Holding onto spot coins for the long term is often more profitable than frequent trading. The Dogecoin I bought at 0.1 yuan years ago has increased more than 20 times in value! The key to wealth lies in cognitive differences—understanding trends before making moves puts you ahead of most people!
Trading cryptocurrencies is a psychological game; stick to long-termism and steady profits. If you’re still facing continuous losses and feeling trapped, wanting to break even or turn your investments around, follow Brother Yuan’s lead—I'm always here, waiting for you to rejoin.