I am 35 years old this year. I started my career in cryptocurrency trading ten years ago with only 50,000. Now my assets exceed 50 million. There is a very foolish way to trade cryptocurrencies, but this method can almost consume all profits, so learn slowly. First of all, when trading cryptocurrencies, we must never do three things.
The first thing is to never buy in when the price is rising. Be greedy when others are fearful, and be fearful when others are greedy. You should develop the habit of buying when prices are falling.
The second is to never over-leverage.
The third is to never go all in. Being all in makes you very passive, and this market is not short of opportunities. The opportunity cost of being all in will be very high.
Additionally, here are six rules for short-term cryptocurrency trading.
The first is that after the price is high and consolidates, there will usually be a new high. After it consolidates at a low, it often sets a new low, so wait until the direction of the market change is clear before taking action.
The second is to not trade during sideways movement. Most people lose money in cryptocurrency trading because they can't do this simplest thing.
The third is when selecting candlesticks, buy on a daily line when there is a bearish candle. Sell when there is a bullish candle.
The fourth is that a slowing decline leads to a slow rebound, while an accelerated decline leads to a rapid rebound.
The fifth is to build positions using the pyramid buying method. This is the only unchanging principle of value investing.
The sixth is that when a cryptocurrency continues to rise or fall, it will inevitably enter a sideways state. At this time, there is no need to sell everything at a high point, nor is it necessary to buy everything at a low point. After consolidation, there will inevitably be a market change. If it changes direction from high to low, then it is time to clear the position promptly. In short, you need to act promptly.#ETH巨鲸增持 $BTC