4 tips for trading cryptocurrencies that helped me say goodbye to earning over ten thousand a month at my job!
As a laid-off worker, I entered the crypto space using a very simple method to earn five figures in a year, which consists of 4 steps: selecting coins, buying, position management, and selling. I will explain every detail clearly to you. I have tried many trading methods that allowed me to achieve relatively consistent profits, and I am still using this method now, which is both high and very stable.
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Step 1:
Add coins that have seen a rise in the past 11 days to your watchlist,
but be careful, exclude any coins that have dropped for more than three days to avoid funds escaping after profit.
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Step 2:
Open the candlestick chart and only look at the coins with a MACD golden cross on the monthly level.
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Step 3:
Open the daily candlestick chart and only look at the 60-day moving average,
As long as the coin price retraces to near the 60-day moving average,
after a volume candlestick appears, enter with a heavy position.
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Step 4:
After entering, use the 60-day moving average as a standard, stay above it,
and sell below it, divided into three details.
One is when the price increase exceeds 30 during the fluctuation,
sell one-third,
The second is when the price increase exceeds 50,
sell another one-third,
The third is quite important
and is the key to determining whether you can make a profit,
that is, if you buy in on that day,
and the next day some unexpected situation occurs,
if the price directly drops below the 60-day moving average,
then you must exit completely,
don't hold onto any other lucky thoughts,
Although with this method of selecting coins based on the monthly and daily lines,
the probability of dropping below the 60-day line is very small,
we still need to have a risk awareness.
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In the crypto space, preserving your principal is the most important thing,
However, even if you have already sold,
you can wait for it to meet the buying conditions again
before buying back.
Ultimately, the difficulty in making money is not the method but the execution.
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"When the coin price directly drops below the 60-day moving average, then exit completely and do not have any other lucky thoughts.
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In summary, in the crypto space, you cannot be rigid; adaptability is the way to survive in the market for a long time.
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