A veteran trader in the cryptocurrency world, with a principal of 120,000 and earning over 27.5 million in 3 years, summarizes 6 iron rules for trading cryptocurrencies. Traders in both crypto and stocks should quickly save and study this.

Today, I will share a method that is actually very simple. Even if you are a newbie in the crypto world, as long as you strictly follow this method, you can easily make money.

First, we need to set up three moving averages on the candlestick chart: the 5-day moving average, the 15-day moving average, and the 30-day moving average. The 30-day moving average is the lifeline, serving as a strong support or resistance level. Then, you can trade the cryptocurrency based on these three moving averages.

1. The selected cryptocurrency must be in an upward trend. Of course, it can also be in a consolidation phase, but it must not be in a downward trend or have moving averages that are all sloping downward.

2. Divide your funds into three equal parts. When the price breaks above the 5-day moving average, buy 30% of your position with a light load. When the price breaks above the 15-day moving average, buy another 30%. Similarly, buy the last 30% when it breaks above the 30-day moving average. This requirement must be strictly followed.

3. If the price does not continue to break above the 15-day moving average after breaking the 5-day moving average but instead shows a pullback, as long as the pullback does not break the 5-day line, maintain your original position. If it breaks below, sell.

4. Similarly, if the price breaks above the 15-day moving average but does not continue to break higher, maintain your position as long as it does not break the 15-day moving average. If it breaks below, first sell 30%, and if it does not break below the 5-day moving average, hold the remaining 30% position.

5. When the price continues to break above the 30-day moving average and shows a pullback, sell all at once as per the previous method.

6. Selling is the opposite. When the price is high, if it breaks below the 5-day line, first sell 30%. If it does not continue to fall, hold the remaining 60%. If all three moving averages (5-day, 15-day, 30-day) break, sell everything without any hopes of recovery.

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