Trading cryptocurrencies, seriously focus on the following 6 points, and your wealth will continue to grow!
1. Trend is King
The trend is the core of profit; without a trend, there is no profit effect. Large funds often only operate in trending markets; if there is no suitable trend, it is better to stay out or only use small amounts to test the waters.
2. Carefully Select Strong Coins
Choosing the right coins directly affects success or failure. Strong coins usually show a one-sided upward trend, characterized by considerable gains and small pullbacks; selecting the right coin is essential to seize profit opportunities.
3. Patiently Wait with No Position
Absolutely do not blindly chase highs; patiently wait for the bottom or a temporary bottom opportunity. Conduct thorough research before entering, carefully select coins with strong trends and good technical patterns, and stay away from weak coins.
4. Firmly Hold Positions for Growth
After buying, firmly hold as long as no top pattern appears; do not be swayed by short-term fluctuations, and only consider exiting when a clear top signal emerges.
5. Abandon Tail Risk
When the price rises to a relatively high level, decisively take profits. The risk of tail events increases, and timely profit-taking can secure gains.
6. Timely Cash Out
Quickly convert the profitable portion into fiat currency to ensure sufficient cash flow to support living expenses, achieving a balance between investment and life.
