Trading cryptocurrencies is really just that. Once you understand it, the next step is execution. If you diligently follow these 6 points, your wealth will continue to grow!
1. Trend is King
The trend is the core of profitability; without a trend, there is no profit effect. Large funds often only operate in trending markets. If there is no suitable trend, they prefer to stay in cash and observe, or only use small amounts to test the waters.
2. Carefully Select Strong Coins
Choosing the right coins directly relates to success or failure. Strong coins typically exhibit a one-sided oscillating upward trend, characterized by significant gains and small retracements. Choosing the right coin allows you to seize the opportunity for profit.
3. Patiently Wait in Cash
Never blindly chase highs; patiently wait for a bottom or a temporary bottom opportunity. Conduct in-depth research before entering the market, select coins with strong trends and good technical patterns, and stay away from weak coins.
4. Firmly Hold Positions Until Price Rises
After buying, firmly hold your positions until a top pattern appears. Do not be swayed by short-term fluctuations; only consider exiting when clear signals of a peak emerge.
5. Abandon Tail Risk
When prices rise to relatively high levels, decisively cash out. Tail risk increases during such market conditions; timely profit-taking is essential to lock in gains.
6. Timely Cash Out
Convert the profitable portions of stablecoins into fiat currency promptly to ensure ample cash flow for living expenses, achieving a balance between investment and life.