The difficulty in making money is not the method, but the execution. 'When the price directly breaks below the 60-day moving average, you must exit completely and not have any lucky thoughts.' Just this one sentence has eliminated 90% of people.
In short, in the cryptocurrency market, you cannot be rigid; adaptability is the key to long-term survival in the market. Therefore, we must pay attention to the fact that the overall market and individual coins are completely opposite. Trading cryptocurrencies seems to be a competition with the market, but in reality, it's a battle with human nature. The risks you see may actually be opportunities, and sometimes what you see as an opportunity might just be a tempting trap.
Look at the records shared by friends who gamble small amounts for big returns every day.
Next, let's talk about some techniques for winning rules:
First, you need to observe market sentiment and emotions. If the trading volume is high but the price doesn't fall, it may indicate a bottoming out. If the trading volume is high but the price can't rise, it may indicate a short-term peak.
The requirements for trading volume during rising and falling are different. During a rise, the trading volume must continue to increase steadily, and if it suddenly decreases or there's an exceptionally large volume, then the rise might be coming to an end. During a fall, as long as there is an increase in volume at some key positions, the downtrend will continue.
You also need to pay attention to some key points, such as resistance levels, support levels, and trend lines. When it reaches these points, you need to act quickly. I personally like to use the golden ratio to predict these points.
When observing the market, you need several time windows. The one-minute chart is used to find entry and exit opportunities, the three-minute chart is used to monitor the waves after entering, and the half-hour or one-hour chart is used to monitor intraday trend changes.
If you hit a stop loss, don't rush to recover. A stop loss means that this trade is over, and the next trade is a new beginning. Don't let previous operations affect you.
The last trick is simple and practical; even if you're a beginner, you can easily make a profit:
We divide our positions into three parts. When the price breaks above the 5-day moving average, buy one part. If it breaks above the 15-day moving average, buy another part. If it breaks above the 30-day moving average, then buy the last part. We must strictly follow this; if the price breaks above the 5-day moving average but lacks the strength to break above the 15-day moving average and instead falls back, as long as it hasn't broken below the 5-day moving average, we hold steady. If it breaks below, we sell immediately.
Similarly, after breaking the 15-day moving average, if it lacks the strength to break the 30-day moving average and falls back but does not break below the 15-day moving average, we continue to hold. If it breaks below, we sell one part first. If it breaks above the 30-day moving average and then falls back, we sell in the same manner.
When selling, it's the opposite. When the price is high, once it breaks below the 5-day moving average, sell one part first. If it doesn't continue to fall, we hold the rest. If the 5-day, 15-day, and 30-day moving averages are all broken, then don't hesitate, sell everything, and don't think it will come back.
This method is very simple, but the key is that you must be able to stick to it. Once you buy, the buying and selling rules are set, and you must strictly adhere to them in order to profit steadily.
