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How much U do you need to earn to have no worries? A real answer from an 8-year cryptocurrency trader. There is no standard answer to this question, but based on my 8 years of ups and downs in the crypto world, when you earn money that allows you "not to compromise on life" and your mindset is not controlled by desire, worries will naturally disappear.
In 2017, I entered the crypto world with 7,000 yuan, and now I've earned over 30 million. My daily life now, besides being drunk and extravagant, is just going in and out of the crypto world. After 8 years of Cryptocurrency Trading, I want to share some experiences with everyone, hoping to help you:
1. A surge is a signal to exit, not a signal to enter:
The peak of a bull market is often accompanied by deafening cheers, but the wise will capture these key signals and gracefully exit before the music ends and the crowd disperses.
2. Avoid having a heavy position in a single coin:
Do not place heavy bets on a coin.
3. Do not spread your positions too thin:
Proper position management is key to controlling risk.
4. Gradual Position Building and Gradual Profit Taking:
Reduce risks and avoid significant losses from one-time buying or selling, or missing out on subsequent rising opportunities.
5. Contract Trading+: Large Capital Small Position :
Large funds are not the problem; misusing positions is the problem. You are not losing on technology; rather, you are dying from liquidation. Stable positions lead to stable emotions, which in turn lead to stable operations.
6. Set Take Profit and Stop Loss + :
Optimize profit-taking timing by combining technical indicators (such as breaking resistance levels). This protects profits while controlling risks. At the same time, optimize stop-loss levels by combining support levels, moving averages, and other technical indicators.
7. Combine technical analysis, fundamental analysis, and news analysis:
The news aspect is the market's barometer, the technical aspect is the market's quantitative analysis tool, and the value aspect is the market's fundamental support.
If you are also delving into the crypto world, feel free to follow my crypto world homepage.