Only by adhering to strict rules can one achieve stable profits or even double them.
These 8 rules are practical insights I've gained from stepping into countless pitfalls and finally achieving stable profits. Newcomers can avoid most traps by following them and establish a foothold in the cryptocurrency world.
Rule 1: Set the direction early in the market; dare to buy on a sharp drop and take profits quickly on a sharp rise. The first 30 minutes of the market is a key window; don't let short-term fluctuations disrupt your rhythm. Watch for signals and act decisively, refusing to blindly chase highs or panic sell.
Rule 2: Don't chase after explosive rises; patiently wait for good opportunities. Don't panic during deep afternoon drops; choose opportunities to buy the next day. If you miss the explosive rise in the morning, don't be greedy, as chasing highs is likely to result in losses; entering gradually after a deep drop can often capture a rebound.
Article 3: Do not blindly cut losses during a morning drop; it's better to wait quietly during consolidation. Do not rush to stop-loss during small declines in the morning; in a consolidation phase without clear signals, minimize activity and avoid consuming capital with frequent trading.
Article 4: Do not sell before reaching the target price; do not buy before hitting psychological levels; do not trade during chaotic consolidation. Determine buying and selling points in advance and strictly adhere to them; during consolidation, market signals are unclear, and entering blindly will only increase risks.
Article 5: A bearish candle pullback is a buying point, while a bullish candle surge is a selling point. Operate in line with the trend, buy on pullbacks, and take profits on surges; do not go against the trend to secure profits.
Article 6: Stay calm when others are enthusiastic; be greedy when the market is fearful. Do not blindly follow the crowd when the market is hot, as it is easy to buy at a high; when everyone is panicking and selling, aim for quality targets and boldly position yourself.
Article 7: Patience is required during consolidation; only take action when the direction is clear. During the consolidation period, it is important to wait patiently, and only enter the market when the breakout signal is clear. Patience is far more important than frequent operations.
Article 8: A prolonged horizontal movement followed by a surge is the end; stop profits in time to secure gains. A sudden surge after a long period of consolidation is often the final stage of the market; do not be obsessed with earning the last penny; securing profits is the safer choice.
In the crypto world, there is no fear of beginners' lack of skills, but rather the fear of a restless mindset and hasty actions. Adhere to these 8 rules and proceed steadily; profits will naturally gather.
In this market, going solo is not sustainable; the pitfalls I have encountered and the practical experiences I have summarized are shortcuts to help you avoid detours. It all depends on whether you are willing to follow along.
