It's simple, the market can't have an everlasting master of profit. Everyone's initial intention in the crypto world is the same, and this is beyond doubt. If you come here just for fun and to kill time, then this is not the right place for you. We enter the crypto world to gain more profits and improve our family's living standards. If the technology in the crypto world is the premise for making profits, then the strict rule that needs to be adhered to is the key to long-term profitability.
If you want to treat trading coins as a second source of income, want a piece of the pie in the crypto world, and are willing to spend time growing and learning, then don't miss this article. Read it carefully; every point is the essence of the stock market. Whether in a bull market or a bear market, these 10 ironclad rules can help you! I will also share my ten years of trading experience!
1. Buy horizontally, buy pits, don’t buy vertically; sell points are where the excitement is.
This means: buy when the coin price is stable or slightly retracing, avoiding blindly chasing high when the price is rising sharply. When the market heat reaches its peak, and voices are loud, it's often a good time to sell.
2. Continuous small gains are real gains; continuous large gains mean exit.
If the coin price continuously rises slightly, it is likely a real upward trend. However, if it rises significantly for a prolonged period, be cautious; it may signal an impending bubble burst, and it’s best to exit and observe.
3. A significant spike needs a retest; don't dig deep pits and make large purchases.
When the coin price suddenly rises significantly, there is often a need for a pullback. If this pullback is not deep, then don't buy easily. Real buying opportunities often appear after the price goes through a deep pullback.
4. A main rise accelerating means reaching a peak; sell quickly on sharp drops and slowly on gradual rises.
When the coin price accelerates in the main rising phase, it often indicates that it is about to peak. If the price drops quickly, sell quickly; if the price only rises slowly, then you can sell gradually.
5. A sharp drop without volume is intimidation; a slow drop with volume means withdraw quickly.
If the coin price suddenly drops significantly but the trading volume is not high, it may be a market intimidation tactic. However, if the price declines slowly while the volume increases, then be cautious; this may signal capital flight, and you should exit quickly.
6. Price breaks through the lifeline, don't hesitate to make a swing trade.
Lifeline usually refers to some important technical indicators + lines or moving averages. If the coin price breaks through these lifelines and continues to rise, then don’t hesitate, decisively carry out swing trades.
7. Look carefully at daily and monthly charts, follow the main forces to build your positions.
· Daily and monthly charts are important tools for observing market trends. By carefully analyzing these charts, you can better grasp the market's main forces and trends, thus establishing your own positions.
8. If the coin price is attacking without volume, don't stand guard as the main forces lure in more buyers.
· If the coin price is rising but the trading volume does not significantly increase, it may be the main force inducing buying. Don’t blindly follow the trend to buy, lest you become a 'leek' standing guard. A shrinking new low is a bottom signal, and increasing volume on recovery means it's time to enter. When the coin price reaches a new low after a volume drop, it often signals a bottom. If at this time the trading volume starts to increase and is accompanied by a price recovery, then it’s a good time to enter.
Are you also in a state of 'horizontal exhaustion' with your current trading?
Feel free to follow me, don't get lost in this round of bull market!
