The simplest way is the best; if you can execute it strictly, you can make a fortune, but few can do it: let me tell you a silly way to trade cryptocurrencies $BTC
1. Just play with these two coins
1. Never touch those messy altcoins; focus on Bitcoin (BTC) and Ethereum (ETH)
2. Those small coins are like playing the lottery; nine out of ten people lose
2. When to short $BTC
1. Look at the yellow line (MA60) on the 4-hour chart; if the price is constantly pressed down by it, that’s an opportunity
2. Sell in three batches: for example, if it rises to 2400, sell some first, then sell more as it rises
3. Set a strict stop-loss: if it spikes to 2450 and then drops, set a stop-loss at 2455; losing this bit is nothing
3. When to go long
1. Look at the daily chart for the previous support level where it couldn’t drop further
2. Also buy in three batches: for example, at the 2300 support level, buy some first, then add more if it drops
3. Set a good stop-loss: if it drops to 2280 and then rebounds, set a stop-loss at 2275
4. Managing money is the most important
1. Don’t lose more than 20% in a day; if you do, shut down and go to sleep
2. Don’t exceed 5% of your total capital each time
3. Don’t trade after 2 AM; try to rest on weekends
5. How to chase a big rally
1. Only chase the three coins that rise the most on the day
2. Make three bucks and lose one: if you risk 100 bucks and make 300, get out
3. If you’re in profit, move your stop-loss up; for example, if you make 200, adjust your stop-loss to break even
6. What to do in a crash
1. Keep 30% cash untouched, wait to pick up bargains
2. Only act if it drops more than 8%
3. Buy in three batches at every 3% price drop
7. When to take profits $ETH
1. If Ethereum makes 20 points and Bitcoin makes 350 points, lock in profits quickly
2. If you make too much, use the 5-minute line to protect profits; for example, after making 500 points, withdraw every 50 points of pullback
3. If you’ve made enough for the day (15%), call it a day; don’t be greedy!
Remember, this market specializes in dealing with various uncooperativeness; you can only survive long by following the rules!