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Ten years of trading cryptocurrencies, going from losing 7 million to earning back 10 million, my top ten rules!
I have been in the cryptocurrency space for over 10 years. Starting with an initial capital of 5000, I made over 10 million during the bull market, then lost everything in three years and even lost an additional 7 million. Finally, I borrowed 200,000 and turned things around, earning back 10 million. Throughout this journey, I have summarized the top ten rules for trading cryptocurrencies, which I am sharing with you today, hoping to help you avoid some pitfalls!
Iron Rule 1: Understand market sentiment, trading volume is key
- Volume increase without price drop: An increase in trading volume without a price drop may be a signal of a stop in the decline.
- Volume increases but price does not rise: If trading volume expands but the price does not increase, it may indicate a short-term peak.
- An increase must be accompanied by sustained volume: During the upward trend, trading volume needs to steadily increase; if there is a sudden decrease in volume or a spike in volume, the upward trend may come to an end.
- Key volume level during a decline: When the key position breaks with increased volume during a decline, the downtrend may continue.
Rule Two: Key Price Levels Determine Buy and Sell
- Resistance levels, support levels, trend lines: Act quickly when the price reaches these points!
- Golden Ratio: I use it to predict support and resistance, and it works very well.
Iron Rule Three: Monitor with Multiple Time Windows
- 1-minute chart: Look for entry and exit opportunities.
- 3-minute line: Monitor the wave situation after entering the market.
- 30-minute/1-hour chart: Determine intraday trend changes.
Iron Law Four: Don't rush to recover after a stop loss.
- Stop Loss = End of Order: Each trade is a new beginning; don't let previous operations affect your mindset.
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Iron Rule Five: Simple and Practical Position Management Method
- Three-position strategy:
1. The coin price breaks through the 5-day moving average, buy the first portion;
2. Break through the 15-day moving average, buy the second portion;
3. Break through the 30-day moving average, buy the third share.
- Strict Stop Loss: Sell the first portion if it falls below the 5-day moving average; sell the second portion if it falls below the 15-day moving average; liquidate all if it falls below the 30-day moving average!
Rule Six: There must be a strategy for selling.
- The high breaks below the 5-day moving average: sell a portion first and observe the subsequent trend.
- Break below the 15-day and 30-day moving averages: Without hesitation, sell everything!
Iron Rule Seven: Increasing positions during stagnation in price rise/fall is a signal.
- Increased Position Stagnation: Prices do not rise, positions increase, which may indicate a short-selling opportunity.
- Increased Position in a Falling Market: Prices do not drop, positions increase, a rebound may be imminent.
Rule Eight: Focus on One Variety
- Phase-focused: Only operate on one variety for a period of time, continuously track it until it no longer has speculative value.
Iron Law Nine: Opportunities are always there, don't rush to recover losses
- Calm down after stop loss: Don't rush to open a new order to recover losses, each trade is independent.
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Rule Ten: Adhere to the rules and achieve stable profits
- Rules are greater than mindset: Strictly follow trading rules and avoid emotional trading to achieve steady profits.
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The secret to earning a stable income of over 10,000 U every day from full-time trading is these ten iron rules! If you can stick to them, making money in the crypto world is as easy as breathing!
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Recent subscribers, have also eaten the meat to mush!
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