Do you remember when I first entered the crypto world, I lost money for 3 years and made profits for 2 years? Now I rely on trading cryptocurrencies to support my family, and I've gained 5 invaluable experiences. Although the content is not extensive, every word is worth its weight in gold!
1. Trade strong cryptocurrencies. If you don't know how to judge the strength of a cryptocurrency, use the 60-day moving average as a benchmark for strength. When the price is above the 60-day line and stabilizes, you can enter the market or increase your position. Exit if it falls below the 60-day line. Strict adherence to this rule applies to most assets!
2. Avoid cryptocurrencies that have risen more than 50% consecutively. If it rises a little, you won’t be able to hold on, and instead, you'll feel anxious. In comparison, low-position advantages are greater and have a better cost-effectiveness. First, the risks can be controlled, and the upward momentum is greater, improving your chances of success.
3. Before a major upward trend forms, there will be obvious characteristics, usually a small fluctuation with a rise and fall of -10% to 20%. When the price is relatively low, actively participate in batches; there is a 90% chance of a market trend occurring.
4. When a new concept or opportunity arises in the market, there is a high probability of a 3-5 day upward movement. Grasping this rule allows you to easily ride the coattails of the main players!
5. When a bear market arrives, at least remain in cash for over half a year. During unfavorable market conditions, operate less. Knowing how to buy makes you a novice, knowing how to sell makes you a master, and knowing when to rest in cash is the true wisdom!
As an investor, while pursuing high returns, it is essential to carefully assess risks and invest rationally. Follow me on my homepage, as I will share valuable insights for free every day to help you navigate the crypto market with confidence!