1. Holding on and averaging down to preserve capital, while seeking profit is greed.
When trading cryptocurrencies, it is inevitable that some coins will be trapped. At this time, it is essential to remember not to fantasize about turning losses into gains instantly; haste and eagerness will only trap you deeper in the mire. You should honestly average down and do your utmost to protect your principal, so that you can maintain a steady flow like a gentle stream.
2. A calm surface may hide a large wave ahead.
The cryptocurrency market may seem calm on the surface, but there are actually strong undercurrents. Do not be deceived by the insignificant small gains in front of you; always maintain high vigilance and be alert to the potential violent fluctuations that may occur next.
3. After a big rise, there must be a correction, K-lines often form a triangle over multiple days.
When the price of a coin is soaring, do not let your excitement overwhelm your judgment. After such a surge, a correction will inevitably follow. Operators need to observe the K-line trends, which often outline a symmetrical triangle formed over several days.
4. Buy on the way down, sell on the way up; acting against the market makes you a hero.
When buying coins, choose to decisively enter during a downward trend, and sell when the price is rising. Acting contrary to the crowd is the key to achieving surprising victories and becoming a hero in the cryptocurrency world.
5. Do not sell on peaks, do not buy on plummets, and do not trade during sideways movements.
When the price of a coin is peaking, do not rush to sell, and do not hastily buy during a drop. When in a sideways market, it is even more crucial to keep your hands steady and calmly observe, responding to changes with a steady mindset.
6. Look for support in an uptrend and resistance in a downtrend.
When the price is in an upward trend, closely monitor support levels to prevent sudden drops; when the price is falling, pay attention to resistance levels to decisively buy at the right moment.
7. Full-margin operations are a big taboo; stubbornness is not advisable. Know when to stop with constant changes, and be adept at entering and exiting.
Never operate with full margins; putting all your eggs in one basket is a poor strategy. The cryptocurrency market is full of unpredictable changes, so learn to take profits and ensure smooth entry and exit by calmly observing market changes to seize the best opportunities.
8. Trading cryptocurrencies relies on mindset; greed and fear are major harms. Be cautious with rises and falls, and maintain a calm and relaxed demeanor.
An excellent operator recognizes that mindset is crucial when trading in the cryptocurrency market. Greed and fear are our greatest enemies; avoid chasing prices and selling in panic. Always maintain a calm and collected attitude to navigate the cryptocurrency world freely.
Finally, let us firmly remember these eight operational mantras and progress steadily on the journey of cryptocurrency trading. The path of cryptocurrency trading is filled with challenges and opportunities, and these eight practical operational skills serve as bright lights illuminating our way forward. By strictly adhering to 'Holding on and averaging down to preserve capital, while seeking profit is greed', we can remain calm in adversity, guard our principal with a sound strategy, and lay a foundation for future profits.