1 Stop Loss and Take Profit, Act Decisively
Trading is not gambling,
If you are not making money, sell; if you incur a loss, stop loss. Don't let greed blind your eyes; the market won't wait for you. If you're wrong, decisively stop loss and take profit!
2 Don't tell yourself to buy low and sell high
"Buy low, sell high" sounds beautiful, but reality is harsh. We need to learn to buy at relatively low points and sell at high points, rather than pursuing perfect entry and exit points.
3 Pay attention to the volume-price relationship
When the price rises, is the trading volume keeping up? If the price of a coin is rising but the volume isn't following, you need to be cautious. This could be a signal of the main force offloading; better to miss out than to chase the high.
4 React quickly, seize opportunities
Market information changes rapidly; when positive news comes out, quickly assess which sectors or coins might benefit. Speed is key; opportunities won't wait for you.
5 Understand to rest and patiently wait
"Bottoms take three months, tops take three days," while significant price increases only last for a short time. We should capture the main upward trend; at other times, we can rest appropriately. Patiently waiting for the next opportunity is the smart approach.
6 Reverse operation during sharp declines
When the market plummets, most people panic, but in fact, this is the greatest opportunity. Learn to be fearful when others are greedy, and be brave when others are fearful. After a sharp decline, building positions at low levels often yields greater returns.
