The six major rules of the cryptocurrency market summarized from more than a decade of practical experience, highly recommended to keep!
1. Only participate in irreversible upward trends:
The market is the fact, and it cannot be challenged. Go with the trend, refuse uncertainty, and follow the major trends that even the seasoned traders must adhere to.
2. Refuse frequent trading:
Wait for the best opportunity like a hunter, rather than rushing at every chance. Understand timing, control positions, and rationally test your strategies.
3. Don't blindly trust technical indicators:
Technical indicators are always lagging. For example, a MACD golden cross often means you're about to take over a position. The trend is the real signal.
4. Forget your cost price after buying:
The basis for operations is the current trend, not whether you are making a profit or a loss. If the pattern is good, hold on; if the pattern is bad, reduce positions or clear them.
5. Participate with money you can afford to lose:
First, use spare cash to practice, and only increase your stake after mastering the rhythm. Borrowing money to trade cryptocurrencies usually results in substantial losses.
6. Withdraw profits:
If you don't cash out, everything is just numbers. Regularly withdrawing profits is the real risk control and the key to smiling at the end.
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