#PI# There is a very foolish method for trading cryptocurrency, but this method can almost consume all profits, so learn slowly. First, we should never do three things when trading cryptocurrency.
The first thing is to never buy during an uptrend; be greedy when others are fearful and fearful when others are greedy. Be able to buy during a downturn and make this a habit.
The second is to never place large orders.
The third is to never go all-in. Being all-in makes you very passive, and what this market lacks the most is opportunities; the opportunity cost of being all-in is very high.
Additionally, let’s talk about six rules for short-term cryptocurrency trading.
The first is that after a period of consolidation at a high price, there will usually be a new high. After a period of consolidation at a low price, there will usually be a new low, so wait for the direction of the trend to become clear before taking action.
The second is to avoid trading during sideways movements. Most people lose money in cryptocurrency trading because they can't achieve this simplest point.
The third is when selecting candlesticks, buy on daily charts when the closing is bearish, and sell when the closing is bullish.
The fourth is that when the downtrend slows, the rebound also slows, and when the downtrend accelerates, the rebound accelerates.
The fifth is to build positions using a pyramid buying method; this is the only unchanging principle of value investing.
The sixth is that when a cryptocurrency continues to rise, after a sustained decline, it will inevitably enter a sideways state. At this time, there is no need to sell everything at a high price, nor is it necessary to buy everything at a low price. Because after consolidation, it will inevitably face a trend change. If it changes downward from a high position, then you need to clear your positions in a timely manner; in short, you need to act promptly.
$ETH $BTC
