Beginner's Guide to Trading Cryptocurrencies: Learn these tips to make your trading smoother!

When it comes to trading cryptocurrencies, there's a method that may seem silly but is actually quite effective, and it can help you make steady profits. The key is that you have to spend time learning. For beginners, there are three things you must avoid when trading cryptocurrencies!

The first thing is to never rush in to buy when the price is skyrocketing. You need to learn to buy boldly when others are too scared to, and be cautious when everyone is rushing to buy. Get into the habit of buying when prices are falling; this will definitely be useful!

The second thing is to avoid putting too many orders at a certain price level, as this is too risky.

The third thing is to never go all in. If you go all in, you become passive. There are plenty of opportunities in the market, and going all in means giving up other potential profitable opportunities, which is too costly!

Now let’s discuss a few tips for short-term trading:

First, after the price has been fluctuating at a high level for a while, it may reach a new high; likewise, if it has been fluctuating at a low level, it may reach a new low. Therefore, you need to wait until you clearly see the trend before taking action.

Second, when the market is moving sideways, don’t rush to trade. Many people lose money in trading because they can’t resist this urge.

Third, when looking at candlestick charts, consider buying when there is a bearish candle; when there is a bullish candle, consider selling.

Fourth, if the price is falling slowly, the rebound will also be slow; if it falls quickly, the rebound will come quickly. You need to grasp this rhythm.

Fifth, when building a position, add in layers like a pyramid; this is a more stable approach, and it’s an old rule of trading.

Sixth, if a cryptocurrency continuously rises or continuously falls, there will definitely be a period of sideways movement afterwards. During this time, don’t rush to buy or sell everything. Because after the sideways movement, the trend will change. If the price shifts from high to low, make sure to exit quickly; if it shifts from low to high, look for opportunities to add to your position. This way, you can trade more smoothly!