Share a few practical cryptocurrency trading strategies to aid decision making:
Ambiguous signals, hold your position: Never act rashly in the absence of familiar trading signals; it's better to miss an opportunity than to place blind orders.
Evening operations are more reliable: The market is full of mixed messages during the day, making it difficult to discern truth from falsehood, and price fluctuations can easily lead to false breakouts. It is advisable to enter the market after 9 PM when the information becomes more stable, K-line patterns are clearer, and directional judgments are more accurate.
Rely on indicators, reject speculation: Abandon subjective feelings and refer to key indicators before trading: observe MACD golden crosses or death crosses, RSI overbought or oversold conditions, and Bollinger Bands' contraction or breakout situations. Only consider entering the market if at least two indicators provide the same directional signal.
Strict stop-loss to protect capital: Stop-loss is the bottom line of trading. You can use fixed stop-loss (limited to 3% of capital) or dynamic stop-loss (after a floating profit of 50%, exit decisively if there is a 20% retracement).
Timely take profits: Withdraw profits at regular intervals, for example, if you made a profit of 5000U this week, it's advisable to immediately withdraw 1500U and continue trading with the remaining funds to reduce risk.
K-line analysis has its techniques: For short-term trading, refer to the 1-hour chart; if two consecutive bullish candles appear, consider going long; then switch to the 4-hour chart to find an entry point near the support level.
