There is a 'foolish method' for trading cryptocurrencies that may be slow but really works
If you want to survive in the cryptocurrency world for a long time and earn steadily, there are no fancy tricks involved. There is a method that seems foolish, but as long as you are willing to follow it and learn while doing, profits will naturally fill your pockets over time.
Part One: Three Things You Must Never Do When Trading Cryptocurrencies
First, do not chase rising prices.
Rushing to buy when the price of a cryptocurrency skyrockets is the most common pitfall for beginners. Remember this phrase: when others are fearful, I am greedy; when others are greedy, I remain calm. Real opportunities often arise when everyone is panicking and prices are falling. Buying at that time increases your chances of winning.
Second, don’t go all-in with heavy positions.
Treating trading like gambling will only lead to faster liquidation. Trading cryptocurrencies is not about risking your life; it’s about making money. Don’t stake your entire position for the thrill.
Third, absolutely do not operate with a full position.
Keep some bullets in reserve to have room for maneuvering. If you are fully invested and the market turns against you, you won’t have the capital to stop losses or average down, and the opportunity cost will be too high.
Part Two: Practical Short-Term Trading Tips, Remember These Six Moves, and Trading Cryptocurrencies Will No Longer Be Blind
First, after consolidation at a high level, it may rise further; after consolidation at a low level, it may break new lows.
Don’t act rashly before a trend change; wait until the direction is clear before entering the market. Don’t be fooled by false moves.
Second, during sideways movements, keep a steady hand; don’t make random trades.
When the market is unclear, observe more and act less. Trading during this time often means giving away money.
Third, while looking at candlestick patterns is simple, it is practical.
Consider entering when the daily candlestick closes bearish, and consider reducing or exiting when it closes bullish. Although it may be blunt, it works well in practice.
Fourth, a slow decline leads to weak rebounds; a sharp decline leads to strong rebounds.
Adjust your strategy according to the trend rhythm; don’t go against the trend.
Fifth, when building positions, follow the pyramid scaling method.
Start with a small position to test the waters; once the direction is right, gradually increase your position. Control the pace, and risk management will be better.
This foolish method may not make you rich overnight, but it can help you survive steadily without being ruthlessly swallowed by the market. As long as you survive long enough, you will eventually have your turn to reap the benefits of a favorable market trend. Trading cryptocurrencies is about discipline, not luck. As long as you are alive, you will eventually experience a bull market.
