The cryptocurrency market is not a casino; it is a battlefield that requires strategy.$MAGIC
Many people who have just entered the cryptocurrency market blindly follow trends and lose tens of thousands in a month.$BMT
Many people have followed my method, and after a few months, not only did they recover their losses, but they also made a small profit. The following experiences are shared with everyone.
Choosing coins during a market crash: When the market crashes and your coins only slightly decline, it indicates that there are market makers protecting the price, so you can hold with peace of mind, as there is a high probability of future gains. A coin that Xiao Li once held was like this, and after following this operation, it welcomed a rise.
Beginner's Simple Rules: Beginners should look at the 5-day line for short-term trading; if the price is above, hold, if it breaks below, sell. For medium-term, look at the 20-day line, and the operation is the same. A method that suits you and is strictly followed is a good method. Xiao Li initially frequently changed strategies, but after adhering to this rule, his trading became structured.
Main uptrend operation: When the coin price forms a main uptrend without obvious volume increase, buy decisively; continue to hold if the price rises with volume, and hold even if it drops with lower volume but the trend remains intact; reduce positions if the price drops with volume and breaks the trend. Xiao Li made a profit during a main uptrend following this principle.
Short-term stop loss and take profit: If there is no movement within three days after a short-term buy, sell if possible; unconditional stop loss if the buy price drops by 5%. Xiao Li previously hesitated to stop loss, leading to greater losses, but after setting this rule, the risks became manageable.
Following oversold coins: If a coin drops 50% from a high and falls for 8 consecutive days, it enters an oversold state, and a rebound may happen at any time; consider following in. Xiao Li followed in when a certain coin was oversold, seizing the rebound opportunity.
Leading coin operation: Choose leading coins for trading, which rise sharply and resist falling. Don't buy just because it has fallen a lot or avoid buying just because it has risen a lot; buy at high prices and sell at even higher prices. Xiao Li previously lost by buying cheap small coins, but after focusing on leading coins, his returns improved.
Trend-following trading: A suitable buying price is more important than a low price; do not easily guess bottoms during a decline, abandon underperforming coins, and let the trend be king. Xiao Li often got stuck trying to catch bottoms before, but after learning to follow the trend, his trading became more stable.
Key to continuous profit: Do not get overly excited due to temporary profits; review and analyze whether profits are due to luck or skill. Establishing a stable trading system that suits oneself is key to continuous profits. Under my guidance, Xiao Li developed a habit of reviewing, and his skill improved.
Trading strategy and mindset: Do not force trades without confidence; being in cash is a strategy, and learning to hold cash is very important. First, protect capital before seeking profits; what matters is the success rate, not the frequency.
Trading coins is about repeating simple tasks; persistently using one method over a long time and mastering it can make trading coins similar to other industries—practice makes perfect, making each decision effortlessly.
This year marks my seventh year in trading coins. I invested 10,000, and now I support my family through trading! I can say that I have used 80% of the methods and techniques in the market. If you want to make trading coins a second profession for supporting your family, sometimes listening more and observing more will reveal things outside your current understanding, which can save you five years of detours!
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