Many friends, when they first enter the market, only have tens of thousands of dollars, do not understand strategies, follow trends to chase prices up and down, and end up losing a lot.
One of my friends initially did the same; he once lost more than half of his principal. Later, he began to learn simple and practical methods, followed a few rules, and steadily built up his investment, multiplying his principal several times over the years.
His experience taught me that trading cryptocurrencies does not require complex techniques; the key is to master a few core principles. Today, I will share these 10 rules with you. Learning them will help you avoid detours and gradually accumulate wealth.
1. When mainstream coins fall for 9 consecutive days at a high level, decisively follow in and buy the dip.
2. When the coin price rises for two consecutive days, promptly reduce your position to lock in profits.
3. After an increase of more than 7%, maintain a wait-and-see attitude the next day and do not chase the price up.
4. Only consider entering after a big bull coin's market has ended.
5. If the price remains stable for three consecutive days, observe for another three days before considering changing positions.
6. If the price has not returned to the original cost the next day, promptly cut losses.
7. There is a pattern in the price increase rankings: if it rises for 3 days within 3 days, it must rise for 5 days, and if it rises for 5 days, it must rise for 7 days. For coins that rise for two consecutive days, buy at a low point and sell on the fifth day.
8. Trading volume is a key indicator; a breakout at a low level indicates bullishness, while high-volume stagnation at a high level requires exiting.
9. Only trade coins with a clear upward trend, referring to the direction of short, medium, and long-term moving averages.
10. Small capital also has opportunities; the key lies in methods, mindset, and execution.
Remember, do not trade cryptocurrencies full-time, and do not borrow to trade; stability is the way to long-term success.
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