The key secret to profitable cryptocurrency trading is—patience in waiting.
1. Only buy during a downturn
Most cryptocurrency traders incur losses due to buying at high prices. When you haven't bought, price fluctuations are irrelevant to you; once you purchase, you fear declines. Therefore, waiting for the price to fully adjust before entering can effectively reduce buying risks. The deeper and longer the decline, the higher the safety margin when you decide to enter.
2. Remember the six waiting rules
Dare to enter during a sharp decline: When faced with a sudden drop, reserve some capital, decisively buy low, and don't be afraid of further declines; avoid being fully invested at once and getting trapped.
Sell during an upswing: Take profits in batches when prices rise—sell a little during small increases and sell a lot during large increases; there's no need to aim for selling at the peak.
Act when the trend is clear: When technical signals are clear and moving averages are well-aligned, making buy or sell decisions then is safer.
Wait for volume confirmation: If price fluctuations lack accompanying volume, they are likely to be false rallies; volume is the key to confirming signals.
Avoid choppy markets and wait for key points: Avoid trading during periods of volatility, and enter only after a breakout above resistance or a retest of support for a higher win rate.
Exit before positive news is realized: The realization of news often marks a turning point in the market; "good news realized is bad news"—profits should be taken early.
