Last year, I saw someone ruthless, who turned a principal of 100,000 into 40 million in just 12 months.

I asked him how he did it? He said something that left a deep impression on me: "Don't bother with all those fancy things, it's better to practice the basics solidly than anything else."

Later, after chatting with him a few times, I noted down his set of strategies. Today, I'm sharing them, and I recommend that whether you're a newbie just entering the scene or an experienced player who has already paid a lot of tuition, you should take a look.

# Before entering, make sure to understand these

The crypto market opens 24 hours a day, sounds great, right? But you have to keep an eye on it. Prices fluctuate wildly, and you could lose your position just by taking a nap.

T+0 allows for entry and exit at any time, which is indeed flexible. But how about trying frequent operations? With transaction fees and emotional trading, you might end up questioning your life.

What does it mean to have no limit on price fluctuations? It could double in a day or drop to zero in a day. It's best for beginners to observe first and not rush into leverage.

Spot trading and contracts can both be played, but contract leverage is a double-edged sword. If you judge correctly, you can earn quickly; if you judge incorrectly, you can be liquidated even faster.

# Four Essential Actions Before Opening a Position

**1. Follow the news**
When major news comes out, don't rush to react; first, see how the market responds. Sometimes, good news can turn into bad news.

**2. Learn Technology**
Understand the basics like moving averages, K-lines, and support levels. You don't need to be an expert, but you should be able to understand the direction.

**3. Set a Plan**
Where is the entry point? How much should the stop loss be set? What are the take profit targets in points? These must be determined before opening a position.

**4. Control Risks**
Never go all in, always set stop losses. These two rules have saved countless lives.

# Understanding Candlestick Charts in Three Steps

The colors in the crypto world are the opposite of the A-shares market, where red means a drop and green means a rise. Don't get them mixed up.

A K-line is divided into three parts: upper shadow, body, and lower shadow. The length of the body indicates the extent of the rise or fall, while the length of the shadows reflects the competition between bulls and bears.

Just remember a few classic patterns: bullish engulfing, bearish engulfing, doji, hammer... These appear at key positions and are often reversal signals.

Ultimately, making money is not that full of secrets. Do a good job on risk control, solidify your technical skills, and the rest is just waiting for opportunities.