How to seek valuable cryptocurrencies? How to profit from trading cryptocurrencies?
Everyone, it's time to learn and start trading cryptocurrencies.
The following are the eight major skills for short-term trading in the cryptocurrency market, according to points 1-8.
Reorganized content:
1. Develop a clear investment plan - If you want to engage in short-term investments in the cryptocurrency market, you need to first create a clear investment plan for yourself. Specify the investment plan based on your own risk tolerance and outline a strategy based on your expected returns in the near term. This plan is the foundation of short-term trading, helping investors allocate funds reasonably and set goals.
2. Prevention of time and energy - In-day ultra-short operations should focus on profit margins rather than single leverage amounts. Investors should develop their own trading principles and habits to avoid placing blind orders. Sufficient time and energy should be devoted to monitoring market dynamics because trading moments require sharp market awareness and cannot rely solely on alerts.
3. Carefully select cryptocurrencies - The choice of cryptocurrencies is crucial for short-term trading. There are two main considerations: - Trading continuity: The selected cryptocurrencies should have consistent trading to ensure that investors can smoothly exit the market at the appropriate time. - Transaction fees: The transaction fees generated from gap trading can be significant, so it is advisable to choose cryptocurrencies with lower fees to save funds; investors can track their own needs to make selections.
4. Reasonable control of profit taking, position, and leverage - When increasing positions, decisively close positions when reaching your expected price point, do not be overly greedy to try to capture all profits. At the same time, strictly control your position and leverage, adjusting positions based on the leverage ratio of the products and your own capital situation to ensure that risks are within acceptable limits.
5. Utilize technical indicators - There are over a thousand types of technical indicators in the market, but investors should master only a few common ones. Familiarize yourself with several commonly used technical indicators such as KDJ, MACD, RSI, etc. These indicators each have their focus and provide different aspects of market analysis references, helping to determine buying and selling timing.
6. Use moving averages to judge buying and selling timing - In short-term operations, generally refer to the one-day, three-day, and five-day moving averages. When the one-day moving average crosses above the three-day and five-day moving averages, and the three-day moving average crosses above the five-day moving average, this situation is called a golden cross and is a buying opportunity; on the contrary, when an abnormal situation occurs, namely a death cross, it is a selling opportunity. The moving average system can reflect the short-term trend changes of the market.
7. Avoid trading during rapid price declines - During rapid price increases, market volatility is exceptionally high, and risks are extreme. At this time, the difficulty of trading is great, and investors should try to avoid participation to prevent unnecessary losses.
8. Trust yourself, avoid excessive reliance on others' analysis - Price trends are influenced by emotional factors, and everyone's analysis and predictions of the market carry uncertainty, with an accuracy rate of roughly fifty-fifty. Therefore, investors should not overly rely on others' analysis, but trust their own judgment and adhere to their investment strategies when operating.
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