After 10 years of trading cryptocurrencies, here are 7 lessons I've learned!
I am someone who has made up my mind to trade cryptocurrencies for a lifetime! From getting beaten up when I first entered the market to now being a full-time trader supporting my family, I have summarized 7 pieces of advice for trading cryptocurrencies. If you want to fight a successful comeback, please read carefully. I hope you can gain some insights from this.
1. When the price of a coin enters a stable upward channel, each pullback is just a temporary stopover and a good opportunity for us to board. There are no coins that keep rising indefinitely; pullbacks are like a compressed spring, aimed at jumping higher.
2. If you enter a confirmed downward channel, any rebound is an opportunity to exit. Once the trend deteriorates, it may take a long time to rise again, perhaps even half a year, so don’t resist the trend and don’t waste your time.
3. Short-term price fluctuations depend on sentiment and fundamentals. In the long run, don’t focus too much on the immediate gains and losses. The current sentiment has settled, while fundamentals determine the length and breadth of the upward movement.
4. Human judgments about bottoms are usually not the bottom, but rather halfway up the mountain. The true bottom is formed by observing sentiment and capital, so absolutely do not blindly buy the dip; often, 9 out of 10 dips will trap you.
5. Don’t rely too much on positive news. Real market movements are about playing expectations. Many retail investors like to listen to news to trade cryptocurrencies, but most of what you hear is just what others want you to hear. Even if it’s true, you don’t know how many hands it has passed through; by the time you find out, the market may have already ended.
6. Don’t casually increase leverage; this will not improve your win rate. Once you incur losses, the numbers will be infinitely magnified. Don’t increase your own risk.
7. Set stop-loss and take-profit levels! Establish clear targets for yourself: decisively stop loss when the price falls to a certain level, and sell when it rises to a certain level. Don’t stare at the gains for too long; many people lose money in a bull market simply because they don’t take profits in time.
My forecast for #Bitcoin: Until mid-February I will buy Bitcoin at a price of 88,750-84,500, and after the 20th of February a sharp jump up to $130,000 per Bitcoin is expected, after which Bitcoin will gradually grow to $170,000 by September, not at a sharp but moderate pace 😉
$ETH ALTCOINS SEASON IS COMING!!! INVEST NOW $FLOKI $SHIB
Ethereum impulse breakout will lead to $15k price in 2025, this will make all coins that are built on ethereum blockchain explode in prices, alternatives such as #floki #shiba and many more will provide compelling opportunities for higher returns.
Imagine thinking #floki #Shibalnu #Ethereum is all a scam, while you slave away for 10years, watching inflation devour your savings over time. Then you see people retiring @30, @40 & so on, only to discover the government robbed everything you worked for. The fiat system is the ponzi. Time to wake up, study and invest ASAP.
So many fundamental projects stand still, or even fall, despite the fact that they solve different real problems, offer innovative technologies, and so on.
Meanwhile, Fartcoin, an absolutely senseless and merciless shit-meme-coin (and a combination!): 600 percent growth.
Bitcoin is making another small shoulder of the big head and shoulders pattern. The bull market is not confirmed, so be careful. It can get very nasty; I am bearish until Bitcoin hits 101K+.
$10 daily, that’s my passive income for the last week! Stake any stable USD coin, like $USDC or $USDT without any risks to lose, using Binance Earn feature. Earn 10% annually, doing nothing! Crypto deposits are much profitable than keeping money in banks. And almost no risks:)
#BTC $FLOKI In such posts, it is clear that not only Binance supports the wrong people, but also that people have a misunderstanding about crypto in general. It is not a fiat currency that can be printed infinitely! Learn it already or not. If you want to continue being poor and exploited by the rich or whales who manipulate the market, then so be it. Otherwise, I would recommend to hold and only sell when the desired amount is reached. Due to the reduction in the number or burning, some coins can grow infinitely if they have a utility or belief. A stop loss or the mentioned tools are only important for whales and the rich and for the masses are not only wrong but an illusion, as your stop loss will not be activated when it goes down, without VIP status your sale takes longer and if there is no buyer it will not be sold with the stop loss. Even if you break it down, your profit would be lower and in most cases 99% void and too little to operate. If everyone stops holding and only speculates, the few rich will always win, and we can forget crypto then, as it has become in the end what we do not need, a fiat currency controlled by a few rich.