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 principal of 5000 yuan, I capitalized on the bull market to earn over 10 million, only to lose everything and end up with a debt of 7 million within three years. Finally, I turned things around with a borrowed 200,000, earning back 10 million again. Throughout this journey, I have summarized the ten iron rules of trading cryptocurrencies, which I, Qianfeng, would like to share with you today, hoping to help you avoid unnecessary detours!
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Iron Rule One: Understand market sentiment; trading volume is the core indicator.
• Volume rises while price stabilizes: A significant increase in trading volume while prices remain stable may signal the end of a downtrend.
• High trading volume with stagnant prices: A surge in trading volume without a significant price increase may indicate a short-term peak has been reached.
• Price increase accompanied by an increase in trading volume: During the upward movement, the trading volume must maintain steady growth; abnormal reductions or spikes may indicate the end of the upward trend.
• Key node volume increases during a decline: When the price drops to a key position, the trading volume surges, and the downtrend may continue.
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Iron Rule 2: Key Price Levels Guide Trading Decisions
• Support, Resistance, and Trend Lines: When prices reach these key levels, decisive action is crucial!
• Golden Ratio: I use it to accurately predict support and resistance, with significant results.
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Iron Rule Three: Multi-timeframe Comprehensive Market Analysis
• One Minute Chart: Capturing 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 a Stop Loss
• Stop loss means the end of the trade: Each trade is an independent starting point, don't 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: When the price of the coin rises above the five-day moving average, make the first purchase.
2. Add position: Break through the fifteen-day line, 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 moving average, reduce positions;
• Break below the fifteen-day line, then reduce;
• Break below the 30-day line, retreat completely!
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Rule Six: The selling strategy is equally important.
• Break below the five-day moving average: moderately reduce positions and watch the changes.
• Break below the 15-day and 30-day moving averages: Act decisively to liquidate positions, leaving no regrets.
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Iron Rule Seven: Be wary of market news, don't let emotions dictate your pace.
• Frequent positive news but prices do not rise: Be wary of the whales offloading, and take profits in a timely manner.
• Negative news continues to surface but prices remain unchanged: This may be a bottom signal, keep a close watch.
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Iron Rule Eight: Stick to review and deeply excavate trading experience.
• Daily Review: Summarize the reasons for success and failure, and extract lessons learned.
• Regular Review: Analyze past trades, adjust strategies, enhance understanding.
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Iron Rule Nine: Set profit targets, don't be greedy.
• Clearly define profit zones: decisively take profits when reaching targets, do not chase the ups and downs.
• 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 the mistakes.
• When profitable: 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 realm of money. On the path of trading cryptocurrencies, may you avoid traps and move forward steadily!
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