If you plan to make a living by trading cryptocurrencies, these eight iron rules are worth pondering repeatedly.

I have been in the crypto space for 10 years, and these eight iron rules are a must-read before entering the market every day, allowing me to avoid being caught in wave after wave of major downturns. Today I share this with friends who are destined to find it useful.

1. When entering the market, do not only look at the 'K-line' trend of cryptocurrency trading, especially for short-term trading, you also need to look at the 30-minute K-line. At the same time, the overall market must stabilize and resonate at this moment before you can take action. For example, sometimes you see a K-line with a long upper shadow and feel like there’s no opportunity, but the next day it shoots up significantly or even hits the limit up. If you look at the 30-minute K-line, you will see the subtlety.

2. If the trend and order are not right, taking another look is making a mistake. You must follow the trend, and the order of the rise must not be disrupted.

3. If you are not in a hot spot or a potential hot spot for short-term trading, it's better not to trade.

4. Give up all impulsive entries. Trade your plan, and plan your trade.

5. Anyone's views or opinions are merely references; you need to have your own careful consideration and serious analysis.

6. First determine the direction, then select the coins. If the direction is correct, the effort will be halved; if the direction is wrong, the effort will be doubled but the results will be halved.

7. Engage in coins that are currently on the rise. It is a big taboo to guess the bottom; one often feels a rebound is imminent, only to face a final shakeout. Stock prices always move towards the direction of the 'small resistance level.' Engaging in coins that are currently on the rise means choosing a direction with less resistance.

8. After making significant profits or losses, clear your position and re-evaluate the market and yourself. Clarify the reasons for the big gains or losses; it's never too late to act again.

In my many years of cryptocurrency trading, I found that after significant gains or losses, clearing positions has a success rate of over 90%. You might as well [check the homepage] to get the latest information and trading skills in the crypto space.