There is a very foolish way to trade cryptocurrencies, but this method can almost eat up all the profits, so learn slowly. First of all, when trading cryptocurrencies, never do three things.
The first thing is to never buy in when the price is rising; be greedy when others are fearful and fearful when others are greedy. Get into the habit of buying when prices are falling.
The second is to never place large orders.
The third is to never go all in; being all in makes you very passive, and the market is never short of opportunities. The opportunity cost of being all in can be very high.
Now let's talk about the six rules for short-term cryptocurrency trading.
The first is that usually after the price consolidates at a high, there will often be a new high. And after consolidating at a low, it often goes to a new low again, so we must wait for the direction of the trend to become clear before taking action.
The second is to not trade during sideways movement; most people lose money trading cryptocurrencies because they cannot do this simplest thing.
The third is when selecting candlesticks, we should buy on a bearish close and sell on a bullish close.
The fourth is that downtrends slow down, and rebounds are also slow, while downtrends accelerate and then rebound.
The fifth is to build positions using the pyramid buying method; this is the only unchanging principle of value investing.
The sixth is that when a cryptocurrency continues to rise or fall, it will inevitably enter a sideways state.
At this time, we do not need to sell everything at high prices, nor is it necessary to buy everything at low prices. Because after consolidation, there will inevitably be a trend change. If it changes downward from a high, you need to clear your positions in time; in any case, you must push forward in a timely manner.
Follow Sister Nian closely, use precise strategy analysis, and select with hundreds of thousands in AI big data to ensure you are invincible. The market never lacks opportunities; the question is whether you can seize them. Only by following experienced and right people can we earn more!
