In 2022, I jumped into the cryptocurrency world, following trends and losing several thousand U in a few months.
The market told me: there are no myths here, only discipline. Today, I will share seven practical insights that helped me turn things around.
1. Capital Management: Survive First
Divide the principal into five parts, using only one part for each trade, and set a 10% stop-loss. This way, even if I lose five times in a row, my total loss will only be 10%. Take partial profits if profits exceed 10%, and refuse to hold onto losing trades.
2. Trend Trading: Don’t Go Against the Trend
Trying to catch a rebound in a downtrend is like catching a flying knife with bare hands. I only trade in clear trends: look for pullbacks to go long when the moving averages are bullish, and wait for rebounds to go short when they are bearish.
3. Stay Away from “Crazy Dog Coins”
Coins that double in a week are often traps; the manipulators pump the price to sell off. No matter how enticing, don’t touch them; it’s important to live to spend.
4. Emotion Management
Write down your stop-loss and take-profit levels before entering a position, and never change them during trading. Accept that if the market reverses after hitting your stop-loss—that’s tuition, not your money.
5. Learn to Go Flat
If you don’t understand, stay flat. 80% of the time in cryptocurrency trading is spent in consolidation; waiting for the opportunity that you can “understand at a glance” is ten times better than frequent trading.
6. Daily Review
After each trade, make a simple record: Why did I enter? What was the result? Long-term accumulation will help you see your weaknesses clearly.
7. Slow is Fast
Don’t expect to double your money in a day. Use a consistent method to steadily earn small profits, and with compound interest, time will surprise you.
The cryptocurrency world is not short of opportunities, but it lacks people who can last long. Survive first, then talk about making money.
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