To achieve stable profits in the cryptocurrency market, one must meet the following 9 points:
1. Basic technology as support
2. A complete trading system
3. Accumulation of years of experience
4. A stable and good mindset
5. Discretionary idle funds
6. The ability to earn money outside the market
Whether in a bull market or a bear market, whether you are a novice just starting out or an experienced veteran, as long as you use the right strategies, turning 30 times in a month is not a fantasy.
Iron Rule 1: Trend Reversal Signal Identification
In a downtrend, if there are more than 3 consecutive bullish candles rebounding, or if the bearish candles in an uptrend do not exceed 3 consecutive bearish candles, this is likely a warning signal for a trend reversal and should be given special attention.
Iron Rule 2: Oscillating Breakout Operation
In a volatile market, when the volume rises and the price remains stable, it often leads to a significant breakout. In terms of operation, one can buy on dips and wait for two consecutive bullish volumes to exceed previous bearish volumes before entering early to seize the opportunity.
Iron Rule 3: Holding Strategy in a Strong Market
The holding strategy in a strong market is simple: as long as the daily line does not break below the rising moving average, hold firmly. Do not be disturbed by technical indicators, especially in a high-level stagnation state, where one may exit too early.
Iron Rule 4: K-Line Combination Analysis Technique
A middle bullish candle combined with two doji candles is usually a sign of an upward trend. This is also a typical bullish pattern of strong cryptocurrencies, and one can actively follow up after discovering it.
Iron Rule 5: Unconventional Market Psychology
The market often goes against common views and the majority's opinions. The smoke screens released by the main forces and market tops often appear when everyone is optimistic; it is essential to maintain independent thinking and contrarian thinking.
Iron Rule 6: KDJ Indicator Application
When encountering a series of large bearish candles, if the KDJ's J line is less than -12, it indicates that a short-term rebound is imminent. At this point, do not rush to act; wait for the rebound to appear before making a judgment to avoid catching the bottom prematurely.
Iron Rule 7: Core Risk Control
Never operate with full capital; always leave some room. As long as the market is there, it allows you to have room for error correction and to keep your principal safe.
Iron Rule 8: Essential Mindset for Emotion Regulation
When trading cryptocurrencies, maintain a calm and rational approach, and treat market fluctuations correctly. Never let emotions dictate your decisions; a stable mindset is crucial for long-term success.
The above iron rules have been verified in the market with real money. After carefully reading them, your trading skills will definitely improve significantly.