Eight years of experience in the cryptocurrency world summarized into eight key phrases that beginners must remember. Helping one is helping all!
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1. Skillfully use morning market trends: In the morning, the cryptocurrency market sentiment is very pure. If the price drops sharply, don’t panic; it might be a good opportunity to buy the dip. If the price is soaring high in the morning, don’t be greedy; take the chance to lock in profits.
2. Mastering afternoon strategies: If there’s a sudden spike in the afternoon, don’t get carried away and chase in; most of it is just a false alarm, and buying at high prices can lead to losses. Conversely, if there’s a downturn in the afternoon, keep your composure, observe for a while, and look for a low point to enter the market the next day, which often leads to gains.
3. Maintain a stable mindset during downturns: If you wake up in the morning to see prices falling, don’t rush to cut losses. The market changes rapidly; early trading fluctuations are often just tricks. If the market is stagnant and calm, don’t be anxious; take a break, recharge, and wait for opportunities.
4. Strictly adhere to trading principles: If your holdings haven't reached the expected high, don’t sell them easily; earning less is still a loss. If the price hasn’t dropped to your psychological level, don’t impulsively buy, to avoid catching a falling knife. During sideways phases when the trends are chaotic and unclear, trading is like blindfolded guessing; it’s better to stand back and observe.
5. Operate based on candlestick patterns: Enter on bearish candles and exit on bullish candles; this is a classic strategy. A bearish candle indicates a price correction and a good opportunity to buy; a bullish candle indicates a short-term upward trend, and it’s wise to take profits at a high.
6. Counterintuitive thinking to break the mold: To stand out in the cryptocurrency world, sometimes you need to go against the grain. When everyone is enthusiastically buying, stay a bit more rational; when people are panic selling, be more decisive and dare to operate counter to the mainstream to find niche opportunities for wealth.
7. Endure the agony of consolidation: If prices are consolidating high or low for a long time, it can be painful. Don’t let anxiety drive you to act rashly; be patient and wait until the trend becomes clear—whether it’s an upward breakout or a downward dip—before fully committing.
8. Catch the tail end of a surge: After a long period of sideways movement at a high level, once there’s a renewed upward momentum, don’t hesitate.
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