Ten years of heartfelt words from an experienced cryptocurrency player! Recommended to bookmark! Full of valuable insights!!
1. When the market crashes, if your coin only slightly drops, it indicates that there are market makers protecting the price from falling further. Such coins can be held with confidence, and there will surely be rewards in the future.
2. For beginners trading coins, there is a simple and direct method: for short-term, watch the 5-day moving average; as long as the coin price is above the 5-day line, hold it; once it falls below, sell it. For medium-term, watch the 20-day moving average; if the coin price is above the 20-day line, hold it; if it falls below, exit. The best method is the one that suits you, and the key is to persist in execution.
3. If the main upward wave of the coin price has formed and there is no obvious increase in volume, then decisively buy. Continue to hold when there is an increase in volume; hold if there is a decrease in volume but the trend has not broken; if there is a decrease in volume that breaks the trend, then quickly reduce your position.
4. After a short-term purchase, if the coin price doesn’t move within three days, sell it if possible. If the coin price drops after purchase and the loss reaches 5%, stop loss unconditionally.
5. If a coin has dropped by 50% from a high point and has continued to drop for 8 days, it indicates that it has entered an oversold state, and a rebound may occur at any time; consider following up.
6. When trading coins, choose leading coins because they rise the most vigorously and are the most resilient when they fall. Don’t buy just because the coin price has dropped significantly, and don’t avoid buying just because it has risen significantly. When trading leading coins, the most important thing is to buy at a high price and sell at an even higher price.
7. Trade in accordance with the trend; the buying price is not about being lower but about being more appropriate. Don’t easily call a bottom during a decline and abandon those coins that perform poorly. The trend is the most important.
8. Don’t let temporary profits cloud your judgment; know that sustained profits are the most difficult. Review your trades seriously to see if your profits are due to luck or skill. Establish a stable trading system that suits you, as it is the key to sustained profits.
9. Don’t force trades without sufficient confidence. Staying in cash is also a strategy, and learning to remain in cash is important. The first consideration in trading should be capital preservation, not profit. Trading is not about frequency but about success rate
