🛑I LOST A LOT OF MONEY IN CRYPTO
but after a lot of struggle and learning, I managed to flip the coin and make amazing profits. Here are 7 golden rules that helped me make money with cryptocurrencies:
📉💼 1. DIVIDE AND CONQUER: Divide your funds into 5 parts and invest only a fifth each time! Keep the strap tight with a stop loss of 10 points. Mistakes are inevitable, but with this strategy, you will only risk 2% of your total funds per trade. Set a profit stop of more than 10 points to avoid getting trapped.
📈💰 2. FOLLOW THE TREND: Improve your win rate by following the trend! Buying on bounces in a downtrend may seem tempting, but it is often better to wait for dips in an uptrend.
🚀📉 3. AVOID SHORT TERM SHOOTING: Stay away from coins that have skyrocketed in the short term. Whether mainstream or copycat, few currencies sustain multiple waves of uptrends. Don't bet on these volatile movements.
📊🔄 4. MACD INDICATORS: Use MACD to time your entry and exit points. A golden cross below the 0 axis indicates a steady entry, while a dead cross above the 0 axis suggests declining positions.
📈💔 5. AVOID AVERAGING DOWN: "Covering positions" can cause large losses. Resist the temptation to double your bet when you're losing; Instead, increase positions when profitable. Don't dig yourself into a deeper hole.
💹📈 6. LOOK AT THE VOLUME: Volume and price indicators are crucial. Pay attention to high volume advances at low consolidation levels and exit decisively when high levels show stagnation.
📈⬆ 7. TAKE ADVANTAGE OF THE UPTREND: Stick to coins with upward trends to maximize your chances of winning. Keep an eye on key indicators such as the 3-, 30-, 84-, and 120-day moving averages to gauge market direction.