1. A sharp decline is the litmus test for quality coins. If the market crashes and your coin only slightly drops, it clearly indicates that the big player is protecting the price and resisting decline. Therefore, such coins can be held with confidence; rewards are certain.
2. If a beginner doesn't know how to buy or sell, the simplest method is to hold positions above the 5-day moving average for the short term; sell if it breaks below the 5-day line. For the medium term, hold above the 20-day moving average; exit if it breaks below the 20-day line. There are many methods, but the best is the one that suits you. The challenge in trading is not the lack of methods but the execution. Over 90% of people can persistently repeat one method without problems. The great path is simple.
3. Once a major upward trend forms and there is no obvious increase in volume, intervene decisively. Hold your position during a volume increase; hold your position if there's a downward trend without breaking support. If a significant volume drop breaks the trend, reduce your position quickly.
After buying short-term, if there's no fluctuation for three days, take the opportunity to sell. If the price drops after buying, cut losses unconditionally at 5%.
6. If a coin has dropped 50% from a high and has fallen for 8 consecutive days, it has entered an oversold channel. An oversold rebound is imminent; you can follow up.
7. When trading cryptocurrencies, focus on the leading coins. Only engage with the leaders, not the miscellaneous ones, because when prices rise, leading coins rise the most, and when they fall, they resist decline the most. Don't hesitate to get on board; trading in cryptocurrencies is often counterintuitive. Don't buy just because prices have fallen; don’t avoid buying just because prices have risen. The more you hesitate to buy, the more it will rise; the more you dare to buy, the more it will fall. The strong remain strong; when trading leading coins, the most important thing is to buy high and sell even higher!
8. Embrace trends and act in accordance with them. The buying price should not be as low as possible, but rather as appropriate as possible. You won’t gain an advantage simply because the buying price is low, as a price drop doesn’t indicate a bottom. Abandon worthless coins; trend is king.
9. Don't let the blood of profits cloud your judgment. Remember, the hardest thing in the world is how to sustain profits. You must carefully review whether it's luck or skill. A stable trading system that suits you is the key to sustained profits.
10. Don't trade just for the sake of trading. What does that mean? It means that when you don’t have enough confidence in this trade being profitable, don’t force yourself to open a position. Being in cash is a skill. A beginner knows how to buy, a master knows how to sell, but a grandmaster knows how to stay in cash. The primary consideration in trading should not be profit, but capital preservation. It’s not about frequency, but about the success rate!
11. In the speculative market, being adaptable is the most erroneous approach. Stick to your fixed trading system; let your system remain unchanged in the face of all changes. It doesn't matter if you use ten thousand methods, what matters is if you use one method ten thousand times. Inactivity is the best defense. Often, the times when we are most reluctant to let go are when we make the most mistakes. Take this to heart!
12. I believe that those who can persist in trading for over four years do so because of the word 'passion.' Passion is permissible, and to excel at a task, passion is essential. However, one must not become excessively obsessed to the point of losing oneself; family is our greatest responsibility.
13. External factors are uncontrollable; seek within yourself. Never attribute your failures to others; this is incredibly important. No matter how far you fall, you must take full responsibility for your decisions. Only by accepting responsibility can you face mistakes and avoid repeating them. True traders are warriors who dare to confront their errors!
14. Listen less to outside gossip, as opinions have no right or wrong. Many times what you see is what they want you to see, or what you want to hear. When you lose interest in media or the methods of any expert, congratulations, you are close to entry and success because you may have gained a little of your own insight: belief!
15. You think you're trading the market, but in reality, you're trading yourself. The outwardly glamorous success we see is merely the result and performance; behind every success lies immense perseverance and patience. Greatness is accompanied by suffering. Time is the most valuable asset, endurance surpasses intellect, innate talent is not important, but mindset is crucial!
The secret to martial arts has been given to you; whether you can become famous in the world depends on yourself.
You must save these methods and review them several times. If you find them useful, feel free to share them with more people who are trading. Follow me to learn more about crypto insights. After facing the rain, I am willing to hold an umbrella for the retail investors! Follow me, and together we will forge ahead on our crypto journey!
Playing around in the crypto space is essentially a battle between retail investors and big players. If you lack insider information and first-hand data, you can only be taken advantage of! If you want to collaborate on strategies and harvest profits together, feel free to join me; like-minded individuals are welcome to discuss!
