I’ll tell you a seemingly simple but super practical method for trading cryptocurrencies. I used this trick to multiply my investment by 20 times, and I’m definitely not bragging!
1️⃣ When the market crashes and the coins you hold only drop a little, it’s definitely the big players propping up the market. Don’t rush to sell these coins; just hold on and wait for profits.
2️⃣ Newbies should not rush into contracts; try doing some short-term trading within a range first. Buy at relatively low points and sell at relatively high points. Start with a small position to get a feel for it before increasing your investment.
3️⃣ If the main upward trend of the coin price has already started and there’s no significant volume yet, don’t hesitate, just buy. If it continues to rise with volume, hold on; if it drops with low volume but the trend is still intact, hold on as well; if it drops with volume and breaks the trend, quickly reduce your position, don’t be greedy.
4️⃣ If you bought a coin and there’s been no movement in three days, sell if you can; don’t just wait around. If it drops after you buy, cut your losses at 5%, don’t wait for bigger losses.
5️⃣ If the coin price has dropped 50% from its high and has continued to fall for 8 days, that’s an extreme drop, and a rebound could happen at any time. Consider buying a bit.
6️⃣ When trading cryptocurrencies, focus on the leading coins; they rise sharply and can withstand drops. Don’t just buy because they have fallen a lot, and don’t be afraid to buy when they have risen a lot. Buy leading coins at high points and sell at even higher points; that’s how you trade.
7️⃣ Follow the trend when trading; it’s not about buying when the price is low, but about buying when it’s appropriate. Don’t keep guessing the bottom during a downturn; directly abandon coins that are performing poorly. When the trend is right, making money becomes easier.
8️⃣ Don’t get carried away just because you made some money; consistent profits are the real skill. After making money, review your trades to see if it was luck or skill. Establish a trading system that suits you; stable profits are the way to go.
9️⃣ If you’re uncertain, don’t force a trade; staying in cash is also a strategy. Learning to stay in cash is very important. When trading, think about preserving your capital first, then about making profits. It’s not about who trades the most, but about who has the highest success rate.
Now Ethereum has broken through the $3400 mark, and the market is very active. Small altcoins have yet to start. This is an excellent time to trade contracts and buy the dip in spot trading. Leave a comment and like this post, and I’ll help you seize this big opportunity in the current bull market!