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Remember Guys,Short-term trading in cryptocurrency, remember these three iron rules. #BinanceSquareFamily 1.) Secure profits and protect your gains. If the price of a coin rises by more than 10% after buying, keep an eye on it. If the price drops back to the buying price, don't hesitate, sell decisively. If you've made a 20% profit, set a bottom line for yourself: never sell if the profit is less than 10%, unless you determine that it has reached a temporary high. Otherwise, hold on tight. If you make a 30% profit, at least ensure you keep 15% of the profit before selling. By doing this, even if you can't pinpoint the high, you can still grow your money. 2.) Cut losses in a timely manner, never linger in battle. If you lose 15% after buying (this percentage can be adjusted according to your risk tolerance, but 15% is a good reference), immediately sell to cut your losses. This is to avoid further losses. If the coin's price goes up afterwards, don't regret it; it means the entry timing was wrong, and accepting the loss is paying for a bad trade. Every time you open a position, you must set a stop-loss; this is basic trading operation. 3) Buy low to reduce costs. If the coin you sold has dropped in price and you still believe in its future, buy it back in the same quantity. This way, the number of coins remains the same, and you also have more capital. If the price doesn't drop much after selling, and you fail to buy back in time, only to see the price rise back to the selling price, then don't hesitate, buy back quickly. Although you will incur some transaction fees, it can effectively prevent missing out. This method can be combined with the stop-loss strategy: buy back when it returns to the original price, and then set a stop-loss if it drops again. If after several operations you find that the price of this coin fluctuates too much and is hard to grasp, then choose a new entry point. #LearningTogether #BinanceFam ❤️
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