Want to make steady profits in the exchange? There are actually 'cheat codes' for that.
It's not about staring at the screen, but rather a simple method that allows profits to grow on their own.
First, put the money you earn into your pocket first.
Every time you open a position, set both stop-loss and take-profit at the same time. As soon as your profit reaches 10% of the principal, immediately withdraw half of the profits and transfer them to a cold wallet. The remaining half can be considered a total loss without regret.
By doing this, you not only benefit from compound interest but also protect your principal. I once withdrew 180,000 USDT in a week, and even the exchange called to ask.
Second, do not gamble on one side; learn to 'bet on both ends'.
Most of the time, the market is fluctuating, specifically targeting those who only take one direction.
My method is: open both long and short positions at the same time, but set stop-loss very tight.
For example, chase a long position on a breakout and place a short position on a pullback.
Both stop-losses do not exceed 1.5% of the principal, but leave a take-profit space of more than five times.
This way, no matter which direction the market moves, there will always be one position that makes a profit. On the day LUNA plummeted, I actually took profits on both sides, and my account increased by 42% in one day.
Third, treat stop-loss as an entry ticket.
Losing a little money is to avoid missing out on major trends.
I never let a single stop-loss exceed 1.5%, but I often set take-profit to above 5%.
Over the long term, my win rate is less than 40%, but I earn much more than I lose — for every 1 unit lost, I can earn back nearly 5 units.
Remember a few details:
Divide the principal into ten parts, using only one part at a time;
Do not exceed three parts in holding positions, to leave room for unexpected events;
If you lose two consecutive trades, shut down and do not open a 'revenge trade';
If your account doubles, withdraw 20% to buy some stable assets, so you can sleep well even in a bear market.
The method is not difficult; the challenge lies in execution.
The market is not afraid of your mistakes but is afraid of you making the same mistake repeatedly.
With this approach, you are the one sitting at the card table collecting money.
