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I'm not some crypto big shot; I'm just an old "leek" who has fallen many times and stepped into pitfalls.
Last year, a follower came to me with 1500U, saying he wanted to make back the money he lost.
I didn't teach him complex moving averages or MACD. I just gave him three pieces of experience I summarized myself.
He followed these three rules for 90 days, and his account grew from 1500U to 65kU without a single liquidation.
These three "life-saving rules" can save you years of detours. The key is whether you have enough respect for the market.
Rule One: Split your money into three parts to diversify risk.
Divide 1500U into three portions of 500U each, and do not use them for other purposes.
The first portion is for short-term trading. Open at most 2 positions per day, then close the software.
The second portion is for waiting for trends. If the weekly chart has no bullish pattern and hasn't broken key levels, stay in cash.
The third portion is emergency funds. Add to positions when the market makes extreme wicks, to avoid losing all principal.
Rule Two: Only take one bite of the trend.
Identify three entry signals:
If the daily chart is not bullish, absolutely stay in cash.
Only enter with a small position when the market breaks the previous high with volume and the daily close is stable.
When profit reaches 30% of principal, withdraw half first, then set a 10% trailing stop-loss for the remainder.
Take profits and be safe; don't try to eat the whole fish.
Rule Three: Lock down your emotions and stick to discipline.
Write a trading plan before entry, set a hard stop-loss at 3%, and exit automatically when triggered.
When profit reaches 10%, move the stop-loss to the cost price.
Turn off the computer at 12 o'clock every day. If you can't sleep, uninstall the app.
Once emotions are out of control, everything is useless.
Opportunities come every day, but if your principal is gone, you have no chance. First learn these three rules, then study those fancy indicators.
We only trade live, no empty promises. There are still spots in the team. Friends who want to learn methods and turn things around, let's get on board together.
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