I lost a lot of money in cryptocurrencies
But after a lot of struggle and learning, I was able to flip the coin and make amazing profits. Here are 7 golden rules that helped me make money from cryptocurrencies:
📉💼 1. Divide and win: Divide your money into 5 parts and invest only 5 each time! Keep the belt tight with a 10 pip stop loss. Mistakes are inevitable, but with this strategy, you will only risk 2% of your total money per trade. Set a stop profit limit of more than 10 pips to avoid falling into a trap.
📈💰 2. Follow the trend: Improve your win rate by following the trend! Buying on a bounce in a downtrend may seem tempting, but it is often better to wait for dips in an uptrend.
🚀📉 3. Avoid short-term shooting: Stay away from coins that have risen significantly in the short-term. Whether mainstream or imitation currencies, few currencies sustain multiple waves of uptrends. Do not bet on these volatile movements.
📊🔄 4. MACD indicators: Use the MACD to determine the timing of entry and exit points. A golden cross below the 0 axis indicates a flat entry, while a dead cross above the 0 axis indicates bearish positions.
📈💔 5. Avoid pullbacks: “Covering positions” can cause significant losses. Resist the temptation to double your bet when you lose; Instead, increase positions when profitable. Don't dig yourself into a deeper hole.
💹📈 6. Look at the volume: Volume and price indicators are crucial. Pay attention to high volume advances at low consolidation levels and exit decisively when highs show stagnation.
📈⬆ 7. Take advantage of the upside: Stick to coins with upside trends to increase your chances of winning. Monitor key indicators such as the 3, 30, 84 and 120 day moving averages to gauge market direction.
