1. Hot coins should not be clung to. When altcoins have made a certain profit, it's time to exchange them. Trying to ride them from start to finish is inevitably a wasted effort. The reasoning is simple: altcoins cannot always rise. After a surge, they need to be exchanged; otherwise, they will fall back to the starting point, making all the effort in vain. For example, the previous FIL and LUNA.
2. When prices are high and consolidating before another surge, seize the opportunity to sell; when prices are low and consolidating with new lows, a good opportunity is likely to arise. When the price creates a new high after consolidating at a high position, be wary of the main force inducing buying, and do not hesitate to reduce positions or exit; conversely, when the price creates a new low after consolidating at a low position and quickly recovers, it is likely the main force is making a final wash, at which point one should remain steadfast.
3. When the market environment is poor, prices may rise contrary to the trend; a small rise against the trend could lead to a big increase. Conversely, when the market environment is good, prices may slightly fall against the trend; a small drop against the trend could lead to a large decline.
4. Only add to positions when making money, do not average down when losing. This may challenge many people's beliefs. Our positions should increase when the price breaks through previous highs, not when it keeps falling. Averaging down will only lead to greater losses, ultimately leaving one unable to move. It is essential to cut losses and let profits run.
5. As long as you identify the bottom price, there is typically a rise of two up for one down. At this point, do not doubt it; generally, a big surprise follows. Especially during a trending rise, there is often a simultaneous increase and consolidation. Do not exit lightly.
6. First-rate traders look at the sector, second-rate traders focus on individual coins, third-rate traders look at indicators, and poor traders simply gamble. This means that when we want to buy a certain coin, we should first look at the sector. Only by engaging in hot sectors can we have high popularity and higher winning rates. Next, we look at the tokens. Those who only look at indicators are beginners, while those who look at everything are gamblers.
7. Indicators change with volume and price; therefore, volume and price are the roots of indicators. If you don’t look at volume and price but rely on indicators, you will be in trouble when trading. Indicators are all calculated based on price and trading volume, so real technical analysis requires looking at volume and price. Price increases need significant capital to drive them.
8. In an uptrend, look at support; in a downtrend, look at resistance. When the price is trending upwards, operating on support lines has a high success rate, providing opportunities for pullbacks and low buys. Conversely, in a downtrend, operating on resistance lines has a high chance of success, which can create opportunities for shorting or exiting.
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