I went from a novice to making profits in cryptocurrency trading with a super simple and practical set of 8 unwritten rules. How many do you know?
After spending a long time in the crypto world, you'll realize that making money is never about mysticism, but rather about a set of effective trading principles.
These 8 experiences, I have personally tested countless times, are simple yet efficient. Those who understand say they are stable, and when you apply them, profits come quickly.
First Rule: Always keep a close eye on Bitcoin's rhythm.
BTC is the heartbeat of the entire market; its rises and falls affect other cryptocurrencies. Especially for some altcoins, it's nearly impossible to escape the influence of BTC's trends, unless it's a coin like ETH that has its own strong logic and can occasionally move independently.
Second Rule: 0:00 to 1:00 is the golden hour.
I refer to this time period as the money-making window. Because global trading volume is weakest during this time, placing a limit order at a low buy price or an ideal sell price often allows you to scoop up bargains or earn easy profits.
Third Rule: Keep a close watch on USDT's movements.
When USDT rises, it often indicates that BTC is about to drop. Conversely, when BTC is rising, it’s a good opportunity to buy USDT at a lower price.
Fourth Rule: Financial news is your best source of information.
Spending a few minutes each day to see what the Federal Reserve has said and whether the attitudes of various countries have shifted can be more crucial than just staring at charts. A piece of regulatory news can crash the market, while a favorable announcement can ignite it.
Fifth Rule: The hours from 6:00 to 8:00 AM are key for determining market direction.
These two hours are critical. If the market is down from midnight to morning, and it continues to drop from 6:00 to 8:00, it's a good time to buy; if the market rises from midnight to morning and continues to rise, then it’s time to consider taking profits.
Sixth Rule: Beware of Black Friday.
The probability of market reversals on Fridays is not small. Although it doesn’t happen every time, by combining news, market trends, and changes in trading volume, you can avoid many pitfalls.
Seventh Rule: Volume is the lifeline.
If the price of a coin drops, don’t panic; first check the trading volume. As long as the volume for mainstream coins is still there and the project isn’t dead, averaging down by buying more will eventually bring profits back.
Eighth Rule: Staying still is the mark of a true expert.
Frequent trading is not as beneficial as holding steady. In a bull market cycle, those who make the most money are not the ones who trade the most frequently, but those who hold the most steadily.
I relied on this set of strategies, going from initial losses to steady profits later.
Of course, the above is just the most basic part. If you truly want to excel, it might be better to come and talk to me about some things that I can't write down, but can only discuss verbally.
