In the cryptocurrency circle, everyone can turn things around
Last year, a novice who lost a lot came to me with 1500U, just wanting to make back what he lost. I didn't discuss any complex indicators with him, just gave him three pieces of advice that I learned through real experience
He obediently followed them for three months. As a result, his account went from 1500U to 50,000U, and he didn't have a single liquidation
Today, I'm sharing these three crucial 'rules for survival'. They don't guarantee you will get rich, but they can greatly improve your chances of survival in this market. How much you can grasp depends on your genuine respect for this market #币圈生存法则
First, divide the money into three parts, prioritize survival before profit
I had him split 1500U into three parts of 500U, not a single cent could be moved - this was a lesson I learned the hard way when my entire account got liquidated, losing sleep over it:
The first part is strictly for short-term trades, opening a position at most twice a day, and closing the software once done; the longer you stare, the easier it is to get greedy;
The second part waits for trends, if the weekly chart doesn't show a bullish pattern and doesn't break critical levels with volume, just stay still; trading wildly during fluctuations is just giving away money;
The third part is emergency funds, used to add positions when the market suddenly plunges, at least allows you to stay in the market
$SIREN
Liquidation is at most a severed finger, losing all your capital is like losing your head - without capital, there are no opportunities
Second, only take a bite of the trend, be a turtle with the rest
I stumbled too many times in the fluctuations early on, 9 out of 10 trades ended with me getting cut badly. Later, I only recognized three entry signals:
If the daily moving averages aren't showing bullish alignment, firmly stay out, don't always fear 'missing out on opportunities';
Only when the market breaks previous highs with volume and the daily close stabilizes, do I dare to enter with a small position;
When profits reach 30% of capital, withdraw half of the profits first, set a 10% trailing stop for the rest
Only what you pocket is yours, don't think about squeezing every last drop out of the market
$PTB
Third, lock in emotions, mechanical execution lasts longer
Before entering a trade, a plan must be written down, and execution must be strict:
Set a stop loss at 3%, automatically close positions when it hits, don't always think 'just wait a bit longer';
When profits reach 10%, pull the stop loss up to the cost price, the rest is the market's bonus;
Follow Da Hui, lock in clear strategies and real results, team spots are limited, do you really want to break through and turn things around❓ Action is the only answer