New to the cryptocurrency world, wanting to go from a few thousand to a million? Remember these tips, and you're halfway there!
Many newcomers to the cryptocurrency world want to make a quick buck. Finding the right strategy is more important than blindly rushing in. Today, I'll share my best practices with you. Follow them and avoid 90% of the pitfalls.
I. The Iron Rule of Short-Term Trading (A Must-Read for Newbies)
Focus Only on Mainstream Coins: Focus on the top ten mainstream coins daily. Combine market trends and news with indicators like the daily MACD golden cross and the BOLL band closing and opening chart. Choose volatile coins and avoid altcoins!
Split your position into 5 parts: For example, if you have a 50,000 yuan capital, divide it into 5 parts. Use only 1 part to open a position at a time, and use no more than half of your position. Always keep half of your funds open for opportunities. A full position is like gambling your life.
No more than 3 trades per day: No matter how itching it is, you have to be patient. Frequent trading will lead to losses. Controlling your hands will keep your money.
Don't cover your position or hold onto your position: Lose 30% as soon as you enter the market? Exit immediately! This means the timing is wrong, and covering your position will only deepen your losses. Once the stop-loss line is broken, close your position unconditionally. Those who hold onto your position will eventually be liquidated.
Enter and exit quickly, don't linger: Don't get hung up on the candlestick chart; run when you make a profit and lock in your gains. Remember: follow the trend; trends are more stubborn than you think.
2. Cryptocurrency Lifeline (Recommended Memorization)
Don't rush out after a big drop in the morning; there's often a pullback in the afternoon.
Reduce your position after a big rise in the afternoon; there's a high probability of a pullback in the evening.
Rising with reduced volume will continue to rise, and falling with reduced volume will continue to fall.
Fall after positive news releases; rise before the news comes out.
Buy the dip during the day; foreign investors often pull the market around 9:30 p.m.
The deeper the spike, the stronger the signal; be clear whether to buy or sell.
Heavy positions will inevitably be liquidated; there are always greedy people on the exchange's liquidation list.
Short positions often fall after a stop-loss; the market makers are waiting for you to sell.
A rebound just before you're about to unwind your position? The market makers won't let you get away with it.
If you don't take profits, the price won't rise. They'll wait for you to exit before manipulating the market.
The more excited you are, the more likely it is to fall. The market makers are playing on your emotions to lure you into the market.
When you have no money, everything goes up, just in case you can't resist chasing high prices.
Remember: 80% of the cryptocurrency market is manipulated. New traders must learn to strike back. Don't act before you understand the market makers' tactics. Once you enter the market, you're prey. Trading isn't about skill, but patience, determination, and timing—taking action when the opportunity arises is 100 times more reliable than trading every day!
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