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Stop throwing money into the crypto space with your credit card, especially when your principal is less than $1,000. The crypto market values strategy and discipline; having less money means you need to be even more cautious.
Last year, I mentored a beginner who started with only $600 in their account. They were nervous even placing orders. But after a month, their account grew to $6,000, and in three months, it surpassed $20,000—all without getting liquidated. How did they do it? Not luck, but by strictly following these three rules.
**Tip 1: Divide your principal into three parts and keep a safety net**
Split the $600 into three portions. Use $200 for intraday trading in Bitcoin and Ethereum, taking profits immediately when fluctuations reach 3%-5%; use another $200 for swing trading, entering only when a clear opportunity arises, usually holding for 3-5 days; keep the remaining $200 frozen and avoid touching it even in extreme market conditions. Have you seen full-position traders? They get excited when prices rise and panic when they fall, and they can't last long. Truly successful traders always hold a capital cushion to turn things around.
**Tip 2: Follow the trend, don’t get worn out by oscillations**
Most of the time is spent in sideways consolidation. Frequent trading just eats up transaction fees. Wait for clear signals; when an opportunity appears, act decisively. Take half profits when reaching 12%, so you feel more secure. Skilled traders follow this rhythm: be patient when idle, and harvest when active.
**Tip 3: Set a 2% stop-loss and reduce position at 4% profit**
Never risk more than 2% of your principal on a single trade. Exit immediately when the target is reached, with no exceptions. When profits exceed 4%, halve your position and let the rest run. Never add to losing trades; don’t let emotions dictate your decisions.
Remember: having less capital is not a disadvantage. What’s dangerous is the mindset of trying to "turn things around in one shot." Turning $600 into $20,000 relies entirely on rules, patience, and self-discipline. No matter how big Bitcoin and Ethereum move, discipline is essential.