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Over these eight years of trading cryptocurrencies, how did I grow from a small account to a multi-million level? Honestly, it's not because I'm particularly smart, but because I've stepped on enough pitfalls and learned deep lessons. Today, I’ll summarize these years of blood, sweat, and tears in hopes of helping you avoid some detours.
**When your principal is small, don’t be greedy**
Your account has only around 1000U? Then wait. Not always holding an empty position, but conserving your firepower. When the wind comes, catching a wave of the main rally is enough to double your investment. At this stage, patience is more valuable than entering the market.
**Cognition determines how much you can earn**
Jumping into real trading without experience? That’s gambling. My advice is to first use a demo account to thoroughly practice your mindset and build your courage. Losing money in a demo is tuition; a big mistake in real trading means getting out.
**Good news is a selling point when it lands**
Many people have stepped on this pit. Don’t sell on the day the good news is announced; wait until the next day’s high open and then decisively clear your position. Otherwise, you’re almost certain to get caught. This is a painful lesson.
**Reduce your position before holidays**
“The market must fall during holidays” is no joke; historical data shows it. Before holidays, either clear your positions or significantly cut down. It’s about peace of mind.
**The secret to mid-term trading: keep cash and roll over positions**
Don’t expect to eat everything in one wave—that’s just a game for manipulators and lucky ones. The correct approach is: keep enough cash, sell some when prices go up, buy back when they go down, and repeat this cycle.
**Only trade active coins in short-term**
Avoid coins with dead trading volume; not only is it a waste of time, but it can also ruin your mindset. Choose coins with high volatility and active trading for higher efficiency.
**The rhythm of decline is crucial**
When the market is slowly drifting downward, rebounds are sluggish; but once the decline accelerates, rebounds come back quickly. Understanding this rhythm helps you catch many golden buying points.
**Stop-loss is not giving up, it’s survival**
If you buy wrong, admit it and cut losses immediately. As long as your principal is alive, opportunities will always be there. Many profitable traders don’t judge by how accurate their predictions are, but by how long they can stay in the game.
**Use the 15-minute chart with KDJ for short-term**
The 15-minute candlestick chart combined with the KDJ indicator can help identify many turning points. This combo isn’t foolproof, but it’s very useful for short-term trading.
**Master one or two strategies; that’s enough**
There are countless trading methods, but you don’t need to master them all. Find two that suit you best, practice until you can execute them blindly, and that’s enough. The key is action, not piling up theories.
Each of these ten lessons is earned through real experience and lessons learned the hard way. Stick to them, and you’ll find that making money isn’t as mysterious as it seems.