4 tips for trading cryptocurrencies that helped me say goodbye to a monthly income of over 10,000 while working!
As a poor college student, I entered the crypto world using a very simple method, and within a year I made five figures, just in four steps: from selecting coins, buying, managing positions, to selling. I will explain every detail clearly to you all. (I recommend saving this and following me so you won't lose it later.) I have tried many trading methods that have allowed me to achieve relatively consistent profits, and I still use this method to this day, which is both high and very stable.
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Step 1:
Add coins that have risen in the past 11 days to your favorites,
but be careful to exclude any coins that have dropped for more than three days to avoid losing funds already profited.
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Step 2:
Open the candlestick chart and only look at coins where the MACD shows a golden cross on the monthly level.
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Step 3:
Open the daily candlestick chart and look only at the 60-day moving average,
Once the coin price pulls back near the 60-day moving average,
and a volume candlestick appears, then enter with a heavy position.
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Step 4:
After entering, use the 60-day moving average as a standard. If it's above the line, hold onto it,
if it's below the line, sell. There are a total of three details.
One is to sell one-third when the price increase of the wave exceeds 30,
two is to sell another one-third when the price increase of the wave exceeds 50,
the third is relatively important
and is the key to whether you can profit,
if you buy in on the same day,
and the next day some unexpected situation occurs,
and the coin price directly drops below the 60-day moving average,
then you must exit completely,
do not hold onto any other wishful thinking.
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Although the probability of breaking below the 60-day moving average using this method of selecting coins based on monthly and daily charts is very low,
we still need to have risk awareness.
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In the cryptocurrency world, it is crucial to protect your principal,
but even if you have already sold, you can wait until it meets the buying criteria again before buying back.
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Ultimately, the difficulty in making money lies not in the method, but in execution.
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"When the coin price directly drops below the 60-day moving average, then exit completely, do not hold onto any other wishful thinking.
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In conclusion, in the cryptocurrency world, one cannot be rigid; adaptability is the key to long-term survival in the market.