4 Tips for Trading Cryptocurrencies That Helped Me Recover from a 200K Loss

After stumbling through the crypto world for 8 years and taking many detours, I have experienced a lot of hardships and challenges. After 10 years of trials and triumphs, I now share these tips with you (I suggest liking and saving this to avoid losing it later).

Step 1:

Add cryptocurrencies that have shown an increase in the last 10 days to your watchlist.

However, it is important to note that cryptocurrencies that have dropped for three consecutive days should be excluded to avoid capital fleeing after making a profit.

Step 2:

Open the candlestick chart and only look for cryptocurrencies with a monthly MACD golden cross.

Step 3:

Open the daily candlestick chart, focusing on the 60-day moving average.

As long as the cryptocurrency price pulls back near the 60-day moving average

and shows a volume increase in the candlestick, then enter with a heavy position.

Step 4:

After entering, use the 60-day moving average as a standard. If the price is above it, hold your position,

if it’s below, exit and sell. This involves three details:

First, when the price increase exceeds 30% in a wave,

sell one-third.

Second, when the price increase exceeds 50%,

sell another third.

Third, this is quite important

and is the key to determining your profit potential.

If you buy in one day

and the next day there are unexpected events

leading the price to fall below the 60-day moving average,

you must exit completely.

Do not hold onto any false hopes.

Although the probability of breaking below the 60-day moving average using this monthly and daily selection method is quite low,

we still need to have a risk awareness.

In the crypto world, preserving your capital is the most important thing.

Even if you have sold out,

you can wait for a situation where it meets the buying criteria again

and buy it back.

Ultimately, the difficulty in making money is not the method but the execution.

When the price falls below the 60-day moving average, exit completely, and do not have other false hopes.

In summary, in the crypto world, you cannot be rigid in your thinking.

Being adaptable is the key to long-term survival in the market.

Therefore, we must pay special attention here.

The overall market and individual cryptocurrencies are entirely opposite.

Trading cryptocurrencies on the surface seems to be a competition with the market,

but in reality, it is a competition with human nature. The risks you see on the surface

might actually be opportunities; sometimes what you see as an opportunity

could be a trap luring you in.

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