Realize 5 invaluable experiences, though the content is not much, every word is like gold!
1. When trading cryptocurrencies, focus on strong coins. If you do not know how to judge the strength of a coin, use the 60-day moving average as a demarcation line. When the price stands above the 60-day line and stabilizes, you can enter or increase your position. Exit if it falls below the 60-day line. Strictly adhering to this applies to most assets!
2. Avoid touching coins that have increased by more than 50% consecutively; if they rise a little, you won't be able to hold on and will end up worrying. In comparison, the advantages of lower positions are greater, and the cost-performance ratio is higher. Firstly, risks can be controlled, the upward momentum is stronger, and the odds of success are significantly improved.
3. Before a main upward trend forms, there will be obvious characteristics, usually involving a small fluctuation of -10% to 20% with small candlesticks and low trading volume. When the coin price is relatively low, actively participate in batches; there is a 80-90% chance of experiencing a market rally.
4. When a new concept or track opportunity arises in the market, there is a high probability of 3-5 days of upward movement. Grasping this rule allows you to easily catch the ride with the main force!
5. When a bear market arrives, at least hold no positions for more than six months. During unfavorable market conditions, operate less. Knowing how to buy is being a novice, knowing how to sell is being a master, but knowing to rest and hold cash is true wisdom.