Memo: Cryptocurrency Trading for ten years, from losing 7 million to earning back 10 million, my top ten iron rules!

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The money wind has entered the coin circle for more than 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 another 7 million. Finally, I borrowed 200,000 to turn things around and earned back 10 million. Along this journey, I have summarized the top ten iron rules of Cryptocurrency Trading, and I hope to share them with you today to help you avoid some detours!
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Rule One: Understand market sentiment; trading volume is key.
- Increased volume without price drop: An increase in trading volume without a price drop may indicate a stop-loss signal.
- Volume Increasing but Price Not Rising: The trading volume is increasing but the price is not rising, indicating that it may have reached a short-term peak.
- The increase must be accompanied by sustained volume: During the upward trend, the 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 Levels of Volume on Decline: When there is a break at key levels with increased volume during a decline, the downward trend may continue.
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Iron Rule Two: Key Price Levels Determine Buying and Selling
- Resistance and support levels, trend lines: act quickly when the price reaches these points!
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- Golden Section: I use it to predict stress and support, and it works really well.
Iron Rule Three: Monitor the Market Over Multiple Time Frames
- 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.
Rule Four: Don't Rush to Recover After a Stop Loss
- Stop Loss = Order End: Every trade is a new beginning, don't let previous operations affect your mindset.
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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 portion.
- Strict Stop Loss: Sell the first portion if it breaks below the 5-day moving average; sell the second portion if it breaks below the 15-day moving average; liquidate all if it breaks below the 30-day moving average!
Iron Law 6: Shipment must also have a strategy
- The price has fallen below the 5-day moving average at a high level: sell a portion first and observe the subsequent trend.
- Breaking below the 15-day and 30-day moving averages: Without hesitation, sell all!
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Iron Rule Seven: Increasing positions during stagnation in price rise/fall is a signal
- Increasing positions with stagnant prices: Prices are not rising while positions are increasing, which may indicate a short-selling opportunity.
- Increasing positions in a stagnant market: The price is not falling, positions are increasing, a rebound may be imminent.
Rule 8: Focus on one variety
- Periodic Focus: Operate on only one variety for a period of time, continuously track it, until it no longer has speculative value.
Rule Nine: Opportunities are always there, don't rush to recover losses.
- Stay calm after stopping losses: Don't rush to open new positions to recover losses; each trade is independent.
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Rule Ten: Adhere to the rules for stable profits
- Rules are more important than mindset: Strictly follow trading rules and avoid emotional trading to achieve steady profits.
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The secret to earning over 10,000 U every day with full-time cryptocurrency trading lies in these top ten iron rules! If you can stick to them, making money in the crypto world is as easy as breathing!
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