Eight Rules Every Beginner in Cryptocurrency Should Know:
1. Stay Calm in the Morning Volatility: Don’t panic during a sharp drop in the morning; it could be a buying opportunity. Be decisive in taking profits during a morning surge, and avoid greed.
2. Avoid Chasing Highs in the Afternoon: Afternoon gains are often traps; do not chase prices. If there’s a decline, observe calmly and consider buying lower the next day.
3. Don’t Panic Sell After a Morning Drop: A morning drop is typically a short-term fluctuation; don’t easily cut your positions. If the market is dull, take a break and avoid forced trading.
4. Stick to Trading Discipline: Don’t sell until you reach your target, and don’t buy until you hit support. During sideways phases, try to observe and avoid making random moves.
5. Understand the Yin-Yang Line Principle: A bearish candle can present a buying opportunity, while a bullish candle suggests taking profits; trading with the trend is safer.
6. Patience is Necessary During Consolidation: Long periods at high or low levels can be tedious; the longer it takes, the more you must stay steady, and act only when the direction is clear.
7. Retreat Quickly After a Surge: If the price has been high for too long before a rise, it’s likely the last wave; cash out profits quickly.
8. Patience is More Important than Positioning: Making money relies on patience; frequent buying and selling is not as effective as holding good coins and waiting for the right moment.