There is a very foolish way, with an interest rate of almost 100%! Trading cryptocurrencies.
1. When the market collapses sharply, if your currency only drops slightly, it means there are traders maintaining the price and not allowing it to fall. Such currencies can be held safely, and there will definitely be a return in the future.
2. For beginners in cryptocurrency trading, there is a simple and straightforward method: for short speculation, watch the 5-day moving average. As long as the currency price is above the 5-day moving average, hold it, and when it drops below, sell; for medium speculation, watch the 20-day moving average. If the currency price is above the 20-day moving average, hold it, and when it drops below, exit. The method that suits you best is the best, and the secret lies in adhering to the execution.
3. If the main currency JIA has already formed and there is no significant increase in volume, buy decisively. Continue to hold it when it rises with an increase in volume, and also hold it if it drops with a decrease in volume but the trend has not been broken; if it drops with an increase in volume and the trend is broken, reduce your position quickly.
4. After buying stocks for the short term, if the currency price does not move within three days, you can sell if possible. If the currency price drops after purchase and the loss reaches 5%, you should stop the loss unconditionally.
5. If a currency drops 50% from its highest point and continues to decline for 8 days, it means it has entered an oversold state, and a rebound may occur at any moment, so follow-up can be considered.
6. When trading cryptocurrencies, one should choose leading currencies, as they rise stronger when the market rises and resist declines better when the market falls. Do not buy just because the currency price has dropped significantly, nor hesitate to buy just because the price has risen significantly. When trading leading currencies, the most important thing is to buy at high levels and sell at even higher levels.
7. Trends must be followed in trading; it is not necessary for the purchase price to be the lowest possible, but it should be as reasonable as possible. Do not rush to identify the bottom during a decline, and one should abandon currencies that are not performing well. The trend is the most important.
8. You should not think about quick profits and become reckless; you must know that continuously making profits is the hardest. You should carefully re-analyze your performance to see if your profits are due to luck or skill. Building a stable trading system that suits you is the key to achieving continuous profits.
9. Do not force yourself to trade without sufficient guarantees. Keeping positions vacant is also a strategy; it is important to learn how not to trade. The priority in trading should be to preserve capital, not the interest rate. What is competed for in trading is not frequency, but the success rate.
The path of cryptocurrencies: it is hard to have a single boat, and sailing a lone boat cannot go far! Blindly working will never bring you opportunities; you are always welcome to discuss, let's seize the big opportunities together!
