If you're new to the Bitcoin market, there's one crucial rule of thumb that could save your trading career: avoid overtrading. Many traders fall into the trap of thinking they can buy cheap and sell high continuously, often trading on an hourly or even minute-by-minute basis. While this approach isn't inherently wrong, overtrading can lead to significant losses, especially for novices. Trading more than 20 times a day is unusual for beginners, and those who don't pay attention to the daily highs and lows are more likely to make mistakes. A helpful guideline is to monitor the market's daily high and low, as these points can indicate potential trends. It's important to remember that the market often reverses by 11 AM EST. If this reversal happens, the trend may continue until 11 AM the following day; if it doesn’t occur, a reversal is unlikely for the day. To make informed decisions about entry points, focus on these daily price levels. This advice is aimed at those struggling in the volatile crypto market, especially newcomers who are still adjusting to the environment. Trade wisely, stay cautious, and learn to navigate the market effectively.
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