I have been in the cryptocurrency space for eight years, and the craziest and most unforgettable memory is undoubtedly the carnival in 2017 led by Bitcoin BTC. $BANK
That year, I had the foresight to choose Bitcoin, starting to buy in batches from around $900. $DENT
Who would have thought that in just three months, it would soar to nearly $20,000. $PROM
The numbers in my account skyrocketed like a rocket, increasing more than twenty times.
At that time, every day when I opened my eyes, the first thing I did was eagerly open the market software. Watching the asset amount continuously climb, I even began to envision that this money was enough to purchase a property outright in a bustling city.
However, human greed played a role, and I never pressed that crucial sell button. Soon after, BTC began a cliff-like downward trend, plummeting to about $3,000.
The unrealized gains vanished like a dream, with eighty percent of the profit evaporating instantly, and the dream of buying a house turned into a bubble.
This painful experience taught me a profound lesson: in the cryptocurrency space, knowing how to buy is just the entry point; true experts are well-versed in the art of selling.
The following take-profit and stop-loss strategy is a valuable experience I gained through real money, especially suitable for ordinary people who cannot monitor the market day and night.
For taking profits, I use the "ladder take-profit method":
Assuming BTC rises from $10,000 to $20,000, I first sell 30% of my position to recover my principal. Regardless of whether it rises or falls afterwards, my mindset remains stable;
When it rises to $30,000, I will further reduce my position by 30%; finally, for the remaining 40%, I set a trailing take-profit, so as long as the price falls back 15% from the peak, it will automatically sell all.
In this way, I can not miss the main upward trend while ensuring that profits will not be completely given back.
On the stop-loss side, I adhere to a strict rule: the loss on a single trade must never exceed 5% of the total principal. After each purchase, I immediately set up a conditional order, establishing a -10% stop-loss line to build a solid safety line for the trade.
The cryptocurrency space is never short of market movements, but if the principal is completely lost, the chance of making a comeback is utterly gone.
Over the past eight years, I have witnessed countless myths of overnight wealth, as well as more people losing everything in the fluctuations of the market.
Those who can truly leave with profits are often those who strictly adhere to discipline. @慢慢赢_带单日记
