Not everyone can get rich from Cryptocurrency Trading, but as long as you remember these 10 iron rules, I can't say you'll win for sure, but at least you won't be easily played for suckers.
1⃣ Strong coins that have been continuously declining are feared.
If a normally strong coin falls for 9 consecutive days, it has basically bottomed out. If you can get in, don’t hesitate. After a significant drop, it will naturally rebound, especially strong coins.
After two consecutive days of increase, it's time to take partial profits.
Retail investors love to chase the rise, only to get trapped. If the price rises too fast, there will definitely be a correction; securing profits is the real skill.
3⃣ The coins that surged today will still have some momentum tomorrow.
If it rises over 7% today, there is usually still some room for the next day. But be careful, if it can't break through the high, you should exit, don't hold on stubbornly.
4⃣ Don't chase high prices for even the best coin.
The high point is not the entry point; the pullback is. Those who understand the frustration of being trapped after chasing highs know what I'm talking about.
5⃣ The coin that has been in a sideways market for too long is in a love battle.
If a coin hasn't moved for three days, give it another three days. If it still doesn't move, switch it out; time is also a cost.
6⃣ Lost but didn't bounce back? Cut losses decisively.
Lost today, and tomorrow I won't even get my capital back? Just walk away. Never fantasize that "it will always bounce back."
The rhythm of the涨幅榜 has its tricks.
Coins that have surged often increase for about 3 days. If they rise for two consecutive days, it might be worth trying to buy on dips. The fifth day is generally the exit point.
8⃣ Trading volume is the lifeline of a coin.
A sudden increase in volume at a low level is an opportunity, but if there is an increase in volume at a high level and the price does not move, it's time to run. When volume and price do not cooperate, there will definitely be a problem.
9⃣ Only trade coins in an upward trend
——March 3 Online Surge: Short-term Opportunities
——30-day online uplift: mid-term can hold
——120-day moving average is rising: main upward trend, just hold it with your eyes closed.
🔟 Small capital is not a problem, messing around is.
The method is right, the rhythm is stable; by doing it slowly, one can also build a snowball effect; on the contrary, no matter how much capital one has, it can also return to zero overnight.
Cryptocurrency Trading is not gambling, don't bet on emotions, don't trade impulsively.
The ability to control oneself is what makes a true master.
