As an experienced trader in the cryptocurrency space, today I summarized 10 iron rules for trading cryptocurrencies. Each one is a lesson learned through blood and tears. After reading, you can save yourself from losing 100,000!

1. Time difference between East and West: Stay awake and monitor the cryptocurrency market, which is mainly concentrated during European and American hours (Beijing time 21:30-7:30). Big price increases usually happen in the early morning! So, if you want to make money, staying up late is a must! Sleep at 20:00, wake up at 4:00 to watch the market; this is the schedule of a qualified trader.

2. Don't panic during daytime drops: If foreign traders are pushing prices up at night while the domestic market is dropping during the day, don’t be afraid! At 21:30, when foreign traders enter the market, they will quickly bring prices back up! Remember: Daytime drops are buying opportunities, and don’t chase prices during daytime increases; they are likely to fall back at night.

3. The deeper the spike, the stronger the signal: The K-line spike (long upper and lower shadows) is a common tactic used by market makers. The deeper the spike, the stronger the reverse signal! After a spike, it is often the best time to buy or sell, so don’t be fooled by market makers!

4. News hitting the market is bad news: Before major meetings or good news, cryptocurrency prices will definitely rise, but once the news hits, they will immediately fall back! So, plan ahead, and when the news comes out, run quickly; don’t be greedy!

5. Community recommendations? Just trade in the opposite direction: If a coin is being wildly promoted in the group, and they speak about it in glowing terms, don’t believe it! It’s likely a trap! The hotter a coin is, the more cautious you should be; trading in the opposite direction is the key!

6. Heavy positions lead to liquidation; light positions are the way to go: Holding heavy positions? Congratulations, you are already on the liquidation list of the exchange! Market makers focus on heavy-position users, and with one pull and one drop, they can liquidate you in no time! Therefore, maintaining light and diversified positions is the way to survive!

7. After a stop-loss, the price drops; after a take-profit, the price rises: After you stop-loss on a short position, the price drops; after you take profit, the price rises. Market makers just don’t want you to make money! So be cautious with stop-losses, and take profits in batches; don’t let market makers lead you by the nose!

8. Almost breaking even? Stop dreaming: Just about to break even? The rebound suddenly stops! How could market makers let you escape easily? Therefore, when close to breaking even, appropriately reduce your position; don’t be greedy!

9. Excitement = waterfall warning: When you are overly excited, a waterfall is about to come! Market makers use your emotions to cut you down, so staying calm is the key!

10. When you have no money, the cryptocurrency market is full of opportunities: When you are broke, every coin seems to be rising, and FOMO emotions are high! But remember, 80% of the market is manipulated, so don’t jump in easily; patiently waiting is the way to win!
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