Newcomers to cryptocurrency trading become seasoned traders by mastering these ten golden rules!
I am 32 years old this year, started trading cryptocurrencies at 22, and by 2024-2025, my assets will reach 8 figures. I have hardly ever experienced troublesome business dealings. I have the patience to summarize my insights; the biggest point in trading cryptocurrencies is having a good mindset, while technical skills come second.
1. If you don't have much money, you need to be frugal. In a year, all it takes is to seize one big surge opportunity. Don't always go all-in; keep some cash on hand just in case.
2. Your understanding determines how much money you can make. If you don't understand, you won't earn. Practicing with simulated trading is okay, but when it comes to real money transactions, the psychological pressure can be immense.
3. If you receive good news and haven't sold on the same day, you need to quickly withdraw the next day when the price opens high. Once good news is out, everyone thinks about selling, and the price will naturally come down.
4. As holidays approach, reduce your positions a week in advance, or even refrain from selling altogether. The market is inactive during holidays, making prices prone to significant fluctuations.
5. For medium to long-term trading, you need to have capital. If the price rises, sell a portion; if it falls, buy a portion. This way, you can lower your costs and adjust your strategy anytime.
6. For short-term trading, look for actively traded cryptocurrencies. If you buy a cryptocurrency that no one is trading, you risk getting stuck.
7. Remember this rule: those that fall slowly will generally rise back slowly; those that drop sharply usually rebound quickly.
8. Stop-loss is crucial; if you buy the wrong asset, you need to acknowledge it and quickly cut your losses. Don't think about waiting for the price to come back; preserving your capital is key.
9. For short-term trades, pay close attention to the 15-minute candlestick chart, then combine it with the KDJ indicator to find buy and sell points. Especially when KDJ is in overbought or oversold conditions, the signals are particularly accurate. You should also look at MACD, RSI, and other indicators.
10. Don't learn too many technical skills; mastering a few is enough. If you currently feel helpless, confused in trading, and want to learn more about the cryptocurrency world and get first-hand cutting-edge information, follow me, and you won't get lost in this bull market! I have navigated the market for many years, deeply understanding the opportunities and traps within it. If your investments are not going well and you feel regret over losses, you can contact me in the discussion area and leave 123. $RED $SOL $ADA #ç˝ĺŽŤéŚĺąĺ ĺŻč´§ĺ¸ĺł°äź #ĺ¸ĺŽäźĺä¸ĺ¸ćşĺś #ĺ¸ĺŽäźĺä¸ĺ¸ćşĺś
Binance has closed the Pre-Market RedStone (RED) on 2025-03-06 09:00 (UTC) and will reopen spot trading for the following pairs on 2025-03-06 13:00 (UTC).
New spot trading pairs: RED/BTC, RED/USDT, RED/USDC, RED/FDUSD, and RED/TRY.
Users will be able to start depositing RED in preparation for trading soon. đđđ
Nonsensical statement with no technical or logical basis. The price would dilute if there were no demand. However, when the market opens, demand is usually high and explosive.
That statement makes no technical sense. Furthermore, in the opening to the open market, demand will be presented, which generates an explosive rise in prices.
"Itâs a bad coin" say some, "Itâs a scam" proclaim others. Neither a bad coin nor a scam, it was the accumulation of inexperience, lack of focus, and greed. Let me explain better; The strength of Redstone or $RED is undeniable, and it will provide amazing support, especially for #DeFi, so why did its price drop? Because most (not all) of those who have traded it these days have been people with very little experience in cryptocurrency trading and even less experience in the field of presales.