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Let me tell you a dumb way to trade cryptocurrencies, it really guarantees no losses!
I made over 20 million dollars just by relying on this!
1. Only trade these two coins
1. Never touch those chaotic altcoins, just focus on Bitcoin (BTC) and Ethereum (ETH)
2. Those small coins are like lottery tickets, nine out of ten people lose money trading them
2. When to short
1. Look at the 4-hour chart and the yellow line (MA60), if the price is constantly below it, that’s an opportunity
2. Sell in three stages: for example, sell some when it rises to 2400, then sell more as it goes up again
3. Set tight stop-losses: if it hits 2450 and drops back, set a stop-loss at 2455, losing a little isn’t a big deal
3. When to go long
1. Look at the daily chart for areas that haven’t moved down before
2. Also buy in three stages: for example, at the 2300 support level, buy some first, then buy more if it dips again
3. Set stop-losses properly: if it drops to 2280 and rebounds, set a stop-loss at 2275
4. Managing money is the most important
1. Never lose more than 20% in a day, if you do, shut down and sleep
2. Never risk more than 5% of your total funds each time
3. Don’t trade after 2 a.m., try to rest on weekends
5. How to chase big gains
1. Only chase the top three coins that rise the most that day
2. Make 3 and lose 1: risk $100, if you make $300, then exit
3. When making profits, move your stop-loss upward, for example, if you make $200, adjust the stop-loss to break-even
6. What to do during a crash
1. Keep 30% cash and do nothing, wait to pick up bargains
2. Only act if the drop exceeds 8%
3. Buy in three stages, each time the price drops by 3%
7. When to take profits
1. Lock in profits when Ethereum gains 20 points, and Bitcoin gains 350 points
2. Protect profits with the 5-minute chart, for example, if you gain 500 points, exit each time it retraces 50 points
3. If you make 15% profit in a day, stop trading, don’t be greedy!
Remember, this market is tough on all kinds of disobedience, following the rules is the only way to survive long!