I can earn over 10,000 USD a month trading cryptocurrencies now, and it's not because I'm smart, it's because of the 'dumb methods'.
Many people think I have some talent, insider information, skills, or secret weapons?
Actually, I don't.
I just realized earlier than others:
The people who can make money in the crypto world are never the ones who run fast, but those who don't take reckless risks.
The following set of principles, I've used for many years, it's painfully simple, but it works.
1. Don't talk about making money yet; first, keep your life safe.
If you protect your principal, you earn the right to discuss profits.
I set a strict rule for myself from the very beginning:
With a principal of 10,000, only trade 1,000 USD for testing.
Never let your life hang in the market.
If you lose 2% on a single trade, exit,
No reasoning, the more you hesitate, the harder it is to cut losses, the easier it is to blow up.
Avoid leverage, beginners should not use it at all.
Even experienced traders shouldn't exceed 50%; most people lose not due to skills, but due to leverage.
If you can do these few points, you're already safer than 70% of people.
2. The more skilled traders are, the less they 'like to move'.
I stabilized later because I suddenly realized: making money isn't about trading a lot, but about making fewer mistakes.
So I simply did this: only trade in one direction.
Either only go long or only go short; the fewer directions, the more accurate.
Set your take profit and stop loss in advance, don't judge on the spot.
3% stop loss, 5% take profit, just like setting an alarm clock mechanically.
Stop trading after 1 to 2 trades a day; the third time starts becoming a loss.
The market doesn't make money by being 'busy'; it makes money by being restrained.
3. Where do 90% of beginners fail? It's not the market, it's emotions, it's habits.
I've guided too many beginners, and they fail not because they can't trade, but because of these fatal actions: increasing positions against the trend.
Adding to a position just brings you closer to liquidation.
Overtrading.
Transaction fees and slippage can eat up a large part of your capital.
Not taking profits.
👉 'It should still go up' - how many people has this sentence buried?👈
If you can quit these bad habits, your performance will visibly stabilize.
In conclusion, let me speak from the heart: contracts are not a casino,
Those who gamble their living expenses for the future end up being dragged out and buried by the market.
As long as you can stay steady and live long, big money will eventually come knocking at your door.
