Share the 8 survival tips for trading cryptocurrencies, don't miss out until next year!
After years of ups and downs in the cryptocurrency market, I have summarized a simple and practical set of '8 tips' to help you avoid detours and proceed steadily, breaking free from the vicious cycle of blindly chasing highs and panic selling:
1. Grab the morning market
Morning dip? Don't panic, it's the golden time to 'pick up bargains'.
Morning surge? Don't be greedy, it's a good opportunity to cash out.
2. Don't act impulsively at noon
Afternoon surges are often illusions; rushing in could trap you.
Don't panic during afternoon drops, stay calm and wait for a good entry point.
3. Stay calm during a downturn
Morning dip, don't rush to cut losses; volatility is normal.
When the market is flat, don't make random moves; patiently wait for opportunities.
4. Three-line trading rules
Don't sell before reaching the target price; fearing 'missing out' is actually a loss;
Don't buy before reaching your psychological price; be careful not to buy halfway up the hill;
During sideways markets, it's most confusing; it's better to observe than to act rashly.
5. Buy on down days, sell on up days
A down day is a signal to pick up bargains;
An up day is a good opportunity to sell high.
6. Don't follow the crowd, go against it!
When everyone is buying frantically, you should stay calm;
When everyone is panic selling, it might be time for you to enter.
7. Sideways markets are a test
Long periods of inactivity are the most torturous; don't panic or act, wait for the direction to become clear before taking action.
8. Seize the last surge
Suddenly spiking after a high plateau?
It's likely the last wave; sell quickly, or your profits will go down the drain!
In summary: Trading cryptocurrencies doesn't rely on luck, but on understanding. See through the cycles, hit the rhythm, don't fear small profits, just fear greed!
