Ten years of trading cryptocurrencies, the top ten iron rules from losing everything to earning back ten million! 🔥

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Having been in the cryptocurrency space for over ten years, starting with a capital of 5000 yuan, I capitalized on the bull market to earn over 10 million, only to lose it all within three years and end up with a deficit of 7 million. Finally, relying on a borrowed 200,000, I turned things around and earned back 10 million. Along the way, I have summarized the top ten iron rules of trading cryptocurrencies, which I hope will help you avoid detours!
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Iron Rule One: Insight into market sentiment, trading volume is the core indicator.
• Rising Trading Volume Stabilizes Price: A significant increase in trading volume while prices remain stable may indicate the end of a downward trend.
• High trading volume with stagnant prices: A surge in trading volume without significant price increase may indicate that a short-term peak has been reached.
• Price increase accompanied by increasing trading volume: During the upward trend, trading volume must steadily grow; an unusual reduction or surge may indicate the end of the bullish market.
• Increased trading volume at key downward nodes: When the price drops to a critical position, trading volume surges, and the downward trend may continue further.
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Iron Rule 2: Key Price Levels Guide Trading Decisions
• 支撑、阻力与趋势线: 价格触及这些关键价位时,果断行动是关键!
• Golden Ratio Principle: I use it to accurately predict support and resistance, with significant results.
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Iron Rule Three: Multi-Period Comprehensive Analysis of the Market
• One Minute Chart: Capture precise entry and exit timing.
• Three-minute chart: Monitor the price fluctuation trend after entry.
• 30-minute to 1-hour chart: Capture the subtle changes in intraday trends.
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Rule Four: Stay Calm After Stopping Losses
• Stop loss means the end of the trade: Each trade is an independent starting point; do not let the past affect your judgment.
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Iron Rule Five: Efficient Position Management Strategy
• Three-Stage Position Building Method:
1. Initial Positioning: The coin price rises above the five-day moving average, first purchase.
2. Add position: Break above the fifteen-day moving average, continue to add position.
3. Fully Loaded: Stand firm on the 30-day moving average and complete the position building.
• Strict Stop-Loss Discipline:
• Break below the five-day line, reduce position;
• Break below the 15-day line, sell again;
• Break below the thirty-day line, full withdrawal!
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Rule Six: The shipping strategy is equally important.
• The high breaks below the five-day line: moderately reduce positions and watch for changes.
• Break below the 15-day and 30-day moving averages: Act decisively to liquidate, leaving no regrets.
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Iron Rule 7: Be vigilant about market news and don't let emotions dictate your pace.
• Frequent positive news but prices do not rise: Beware of the operators unloading, and take profits in a timely manner.
• Negative news continues to come out, but prices are not falling: This may be a bottom signal, stay tuned.
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Iron Rule Eight: Stick to reviewing and deeply analyze trading experiences.
• Daily Review: Summarize the reasons for success and failure, and extract experiences.
• Regular Review: Analyze past trades, adjust strategies, and enhance understanding.
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Iron Rule Nine: Set profit targets, do not be greedy.
• Clarify profit ranges: decisively take profits when targets are reached, and avoid chasing highs or selling lows.
• Learn to take profits in batches: Especially during a surge, do not sell everything at once.
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Iron Rule Ten: Mindset is King, Always Stay Calm
• When in loss: Don't rush to recover, calmly analyze your mistakes.
• When making a profit: Don't be blindly confident, the market is always full of risks.
• Be patient and wait for opportunities: Don't rush, it's better to miss than to make a mistake.
These iron rules are valuable experiences gained from countless failures and successes in the world of money. On the road of trading cryptocurrencies, may you avoid traps and move forward steadily!