After years of ups and downs in the crypto world, from 100,000 to 130 million, the pitfalls experienced and the money earned have crystallized into these 7 iron rules. Each word is hard-earned; understanding them could save you at least a million!
One, with small funds, don’t mess around blindly.
With a principal of less than 100,000, don’t follow the big players with full margin and frequent trades. Seize clear opportunities once a day, set stop-loss and take-profit when entering, and exit directly if there’s no activity within 3 hours.
Remember: the longer you hold a position, the easier it is to be emotionally hijacked; working for the exchange is not as good as screwing screws.
Two, when good news is realized, immediately escape.
When good news like 'XX goes live' or 'XX partnership' is announced, it’s not the time to run; the next day’s high open is bound to crash!