Cryptocurrency trading can be overwhelming, but with the right approach, even beginners can gradually build substantial wealth. The secret lies in disciplined execution of simple, time-tested strategies. Here are 10 golden rules that every smart trader should follow:
1. Watch Strong Coins Closely: If a high-performing coin drops for 9 straight days, it might be setting up for a bounce—be ready.
2. Trim Profits Early: After 2 consecutive green days, reduce your position—don’t get greedy.
3. Beware of Big Moves: If a coin jumps over 7% in one day, expect a pullback the next—observe before jumping in.
4. Buy After the Bulls Rest: Only enter when the previous rally ends—patience pays.
5. Low Volatility = Watch Closely: If a coin stays flat for 3 days, observe 3 more—then decide.
6. Respect Recovery: If a coin doesn’t reclaim the previous day’s level, exit quickly.
7. Momentum Has Patterns: Gains often come in waves—buy dips on day 2 of a rise; sell on day 5.
8. Volume = Market Pulse: High volume at low levels signals opportunity; high volume with no price movement? Get out.
9. Follow Trends Only: Trade only coins in clear uptrends; let moving averages guide you (3-day, 30-day, 80-day, 120-day).
10. Discipline Beats Capital: Even with small funds, success comes by staying rational, using proven strategies, and never trading with borrowed money.
Final Advice: Avoid full-time trading—it’s risky and mentally exhausting. Crypto should complement your life, not consume it.