I am not a cryptocurrency mentor, just an old leek who has stumbled through the pits.
Don't be fooled by how relaxed I sound; I am someone who has blown up my account and lost sleep over it.
Last year, a brother came to me with 3000U, saying he wanted to recover his losses. I didn't talk to him about moving averages or MACD and other fancy stuff; I only shared three lessons I learned the hard way.
He followed my advice for three months, and his account shot up to 60,000U without ever blowing up.
These three "life-saving rules" depend on how much respect you have for the market.
① Divide your money into three parts; survive first before talking about making money.
Split 3000U into three parts, each 1000U, and don't touch a single cent:
First part: short-term trading, open a maximum of two positions per day, and close the software afterward. If you stare too long, greed will kick in;
Second part: trend position. If the weekly chart has no bullish pattern and key levels haven't been broken, play dead. Chasing in a volatile market is just handing money to others;
Third part: emergency funds. Use this to supplement in case of a sudden market drop, at least allowing you to stay in the market.
Blowing up is just losing a finger; losing your capital means losing all opportunities.
② Only eat the meat of the trend; treat the rest like a turtle.
In the early years of volatility, I was cut bloody nine times out of ten.
Later, I recognized three things:
If the daily moving average shows no bullish signals, firmly stay in cash; don't fear missing opportunities;
If prices break previous highs with volume and the daily close is stable, enter with a small position;
When profits reach 30% of the capital, withdraw half, and set a 10% trailing stop for the rest.
Secure your profits; don't think about eating the whole market. The red envelope the market gives you is enough.
③ Lock in your emotions, execute mechanically.
Before entering, write down your trading plan and execute it strictly:
Set a stop loss at 3%, and close the position automatically when it hits;
When profits reach 10%, move the stop loss to the breakeven point; the remaining profits are a gift from the market;
Shut down the computer at midnight, no matter how tempting the K-line looks; otherwise, if your mind gets disturbed, everything goes wrong.
There are opportunities every day; if you lose your capital, you lose everything. First, get these three points right, then ponder waves and indicators.
The cryptocurrency world is brutal, but also simple—first, ensure survival, then make money, then stabilize your emotions.
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