Mastering a straightforward approach to crypto trading can gradually increase your wealth. Keep these 10 key rules firmly in mind:
1. When a strong cryptocurrency experiences a steady decline over nine consecutive days from a high level, act quickly to follow up on this signal.
2. If any cryptocurrency price rises for two days in a row, consider reducing your holdings promptly to lock in gains.
3. After a cryptocurrency surges more than 7% in a single day, expect a possible pullback the next day; observe carefully before making moves.
4. Only enter the market once the previous bullish phase has concluded to avoid chasing overextended rallies.
5. If a cryptocurrency shows three days of low volatility, watch it for another three days; if no significant change occurs, it may be time to adjust your portfolio.
6. Exit immediately if a cryptocurrency fails to regain the previous day’s cost on the following day.
7. On the gainers list, expect patterns: if there are three gainers, five usually follow; if five, then seven. For coins rising two days straight, buy on dips and aim to sell around the fifth day, which often marks a peak.
8. Pay close attention to volume and price indicators—volume is the market’s lifeblood. Notice breakouts at low levels during consolidation as potential entry points, but exit decisively if volume spikes at highs without price movement.
9. Trade only cryptocurrencies in an upward trend to maximize profits and avoid losses. Use moving averages as trend indicators: a 3-day moving average turning up signals short-term rise; 30-day for medium-term; 80-day for main trend; and 120-day for long-term bullish momentum.
10. Small capital is not a barrier to opportunity. With the right methods, rational mindset, disciplined strategy execution, and patience, you can succeed. Avoid trading full-time or using borrowed money to mitigate risk.
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