In eight years, two rounds of bull and bear markets, when some people's profits in the cryptocurrency circle are still 0 or have returned to 0, the trader Kristjan Qullamaggie in the picture has made $82 million with $0.91 million, which is more than 9,000 times higher, and has become one of the top 15 highest earners in Sweden. Although we didn't make as much money as Kristjan, learning his five major money-making strategies may also allow us to get some wealth.
1. Breakout trading
❍ Kristjan's research found that the stock prices of large companies tend to move in a step-like manner. The same is true in cryptocurrencies, with local declines but overall growth, you have to find the breakthrough position.
2. Position size and risk
❍ Kristjan believes that you should not hold more than 20% of your portfolio in a single transaction. The same is true for cryptocurrencies. Always diversify your investments and don't put all your money in one coin. Only invest the amount you are willing to lose.
3 Exit rules
❍ Kristjan recommends closing positions in batches, closing 30%, and closing another 20% after 3-5 days. The same goes for cryptocurrencies, gradually make profits and transfer them to stablecoins.
4 Philosophy
❍ Kristjan’s main focus is money management, he believes that it’s all a numbers game, where risk/reward is the most important factor. The essence of his philosophy is “participate in the biggest trends, make a lot of bets, and keep losses small.”
5 Don’t give up
❍ Kristjan lost 3-4 deposits before making a profit. The most important thing is not to give up, because we have passed the bear market and now is the golden period for making money in cryptocurrencies.
