Cryptocurrency trading for ten years: ten iron rules from total loss to making ten million! 🔥🔥🔥

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I have been in the crypto world for more than ten years, starting with an initial capital of 5000 yuan, I earned more than 10 million during the bull market, but in three years I lost everything and lost another 7 million. In the end, out of the borrowed 200 thousand, I got back on my feet and earned 10 million back. Along the way, I have summarized ten iron rules for trading cryptocurrencies that I want to share with you today, I hope it helps you avoid unnecessary difficulties!
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Iron rule one: awareness of market emotions, trading volume is a key indicator.
• Trading volume is increasing, price is stabilizing: A significant increase in trading volume with a stable price may indicate the end of a downward trend.
• High trading volume, stable price: the trading volume has surged sharply, but the price does not show significant growth, possibly a short-term peak has already been reached.
• The increase is accompanied by a rise in trading volume: during an increase, the trading volume should remain consistently rising, while an abnormal decrease or sharp increase may indicate the end of market growth.
• Trading volume at key support levels is increasing: when the price drops to a key level, trading volume spikes sharply, which may indicate a further continuation of the downtrend.
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Iron Two: Key price levels indicate trading decisions
• Support, resistance, and trend lines: When the price reaches these key levels, decisive actions are crucial!
• Golden ratio: I use it for accurate forecasting of support and resistance, the results are impressive.
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Iron three: multi-timeframe comprehensive market analysis
• One-minute chart: Capture the exact moment of entry and exit.
• Three-minute chart: Monitoring price fluctuations after entry.
• The chart for thirty minutes to one hour: capture the subtle changes in the daily trend.
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Iron rule four: after a stop-loss, remain calm.
• Stopping losses means the end of the deal: each deal is an independent starting point, do not let the past influence your decision.
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Iron Five: Strategy for Effective Position Management
• Three-step method of opening positions:
1. Initial position opening: the coin price exceeds the five-day line, first purchase.
2. Add position: after breaking the fifteenth daily line, continue to add position.
3. Remain in full readiness: stay above the thirty-day line, complete the accumulation.
• Strict loss stop discipline:
• After breaking the five-day line, reduce positions;
• Breakthrough on the fifteenth day, reduce further;
• Breakthrough of the thirty-day line, complete evacuation!
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Iron six: the exit strategy is also important
• The high position broke the five-day line: moderately reduce positions, watch for changes.
• Breakthrough of the fifteen-year and thirty-year lines: decisively withdraw assets, do not leave regrets.
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Iron Seven: be cautious with market news, don't let emotions dictate the rhythm.
• Positive news is coming in, but the price is not rising: beware of capital outflow from players, and timely secure your profits.
• Negative news is coming in one after another, but prices are not falling: this may be a signal of the bottom, watch closely.
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Topic eight: adhere to analysis, deeply study trading experience
• Daily review: summarizing the reasons for success and failure, generalizing the experience.
• Regular review: analysis of past transactions, strategy adjustment, increased awareness.
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Rule nine: set a profit target, don't be greedy
• Clearly define the profit zone: upon reaching the target, decisively lock in the profit, do not raise the price and do not sell at a loss.
• Learn to partially take profits: especially during sharp market rises, do not sell everything at once.
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Iron ten: attitude is king, always stay calm
• In case of losses: do not rush to compensate, calmly analyze the mistakes.
• When making a profit: do not be blindly confident, the market is always full of risks.
• Wait patiently for the opportunity: don't rush, it's better to miss than to make a mistake.
These iron rules are invaluable experiences gained from numerous failures and successes with money. On the path to cryptocurrency trading, I wish you to avoid traps and move forward confidently!
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