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If you have been trading cryptocurrencies for over a year and still haven't made a million, read these 10 essential tips.
10 years of crypto trading, earning 50 million, remember these 10 tips. After over a decade of trading, here are the ten key insights.
If your capital isn't very large, for example under 200,000, it's enough to catch one main upward wave each year. Never go all-in all the time.
You can never earn wealth beyond your level of understanding. Practice with a simulation account to develop your true mindset and courage. Simulation trading can fail infinitely, but real trading failures might be your last, possibly causing you to stay away from the market forever.
When encountering major positive news, if you don't sell on the same day, remember to sell at the high open the next day. Good news often turns into bad news.
During major holidays, reduce your holdings a week in advance or even go completely cash. Historically, markets tend to fall during holidays.
The mid-to-long-term strategy is to keep enough cash, sell high, buy back on dips, and operate cyclically for the best results.
Short-term trading mainly depends on volume and chart patterns. Active trading in volatile charts is fine; avoid trading inactive charts.
When the decline slows down, rebounds will also be slow; when the decline accelerates, rebounds will be quick.
If you buy wrong, admit it, cut losses promptly, and preserve your capital—this is the key to surviving in the market.
Always check the 15-minute candlestick chart for short-term trades. The KDJ indicator can help identify good buy and sell points.
There are countless techniques and methods for trading cryptocurrencies. Mastering just a few is enough; don't be greedy for too many.