How to turn 1000u into 2 million in 6 years, all my hard-earned lessons are shared!
Brothers, as an old player in the cryptocurrency world for 8 years, I've experienced the darkest moments of life. Liquidation, debt, entangled with online loans, unable to eat or sleep well, even standing on a rooftop contemplating it all. Once, my 200,000 principal went to zero in a day, while it took me a full 3 years to turn 1000u into 2 million! Today, I share my valuable experiences from these 6 years without reservation, hoping to help everyone avoid detours in the contract circle and achieve financial freedom sooner.
9 trading tips to help you avoid detours.
1. Small capital, stable returns: With a principal of less than 100,000, catching a big market move once a day is enough. Don't be greedy, and don't operate with a full position, or you might accidentally lose everything.
2. Timely selling on good news: When major positive news appears, if you haven't sold on the same day, sell quickly the next day if the price opens high. The time when good news is realized is often the beginning of bad news.
3. Pay attention to news and holidays: News and holidays have a huge impact on market trends. Before major events occur, adjust your strategy in advance by reducing positions or going to cash. If you're unsure of the direction, wait until the market clarifies before acting accordingly.
4. Light positions for medium to long-term trading: It's essential to enter medium to long-term investments with light positions. The market is unpredictable, and heavy positions carry too much risk; being steady is the long-term approach.
5. Quick entries and exits in short-term trading: The key to short-term trading is to go with the trend and move quickly. Identify the right entry point when the market is clear, and take profit quickly. When the market is dull, patiently wait with no position, avoiding greed and hesitation.
6. Understanding volatility and retracement patterns: When the market moves slowly, rebounds are also slow; when the market moves quickly, retracements happen rapidly. Mastering this rule can help better grasp trading opportunities.
7. Stop-loss promptly and don't hold losing positions: If you enter at the wrong point or misjudge the direction, stop-loss immediately. Stopping losses is crucial to preserving your capital; holding onto losing positions will only increase losses.
8. Smart use of 15-minute candlestick charts: Short-term investors must look at 15-minute candlestick charts, using the KDJ indicator to find entry points more accurately.
9. Mindset determines success or failure: There are many trading techniques and methods, but the mindset is the most important. The cryptocurrency market fluctuates wildly; adjust your mindset, avoid greed, and prevent market emotions from controlling you.
Trading cryptocurrencies involves risks; invest cautiously. Everyone must formulate investment strategies based on their actual situation. I hope my experiences can help you ride the waves in the cryptocurrency world and achieve your wealth dreams!
