When trading cryptocurrencies, there are three things you must never do.
The first thing is, don't buy when the price is rising. You need to learn to buy boldly when others are scared to death, and be cautious when others are buying frantically. Develop the habit of buying when prices are falling.
The second thing is, don't put all your money into one trade.
The third thing is, don't operate with a full position. If your position is full, you become passive. There are plenty of opportunities in the market, and having a full position increases your opportunity cost.
Now let's talk about a few tips for short-term cryptocurrency trading:
First, don't rush to buy when the price is high; it may rise a bit more. Don't rush to sell when the price is low; it may drop a bit more. Wait until the direction is clear before taking action.
Second, don't trade when the market is sideways. Many people lose money in cryptocurrency trading because they can't manage this.
Third, when looking at candlestick charts, try to buy during bearish candles and consider selling during bullish candles.
Fourth, if the price is falling slowly, the rebound will be slow; if the price is falling quickly, the rebound will be vigorous.
Fifth, build your position using a pyramid approach; this is an old rule of value investing.
Sixth, if a cryptocurrency rises sharply or falls sharply, it will definitely move sideways for a while afterward. At this time, don’t sell everything at the high point, and don’t buy everything at the low point. Once the sideways movement ends, there will be a trend change. If it starts to fall from a high point, you need to clear your position quickly.

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