After more than 10 years of cryptocurrency trading, I have summarized the following ten tips for cryptocurrency trading:
1. If your capital is not very large, for example, less than 200,000, it is enough to catch the main rising trend once a year. Don't always hold a full position. #web3
2. A person can never earn wealth beyond his cognition. First practice your true mentality and courage in simulated trading. You can fail unlimited times in simulated trading, but if you fail once in real operation, it may be all your loss, and you may even stay away from the market forever.
3. If you encounter a major positive news and do not ship on the same day, remember to sell it when it opens higher the next day. The realization of positive news is often negative news.
4. When encountering major holidays, reduce positions or even go short a week in advance. Based on past experience, the market will fall during holidays.
5. The medium and long-term strategy is to keep enough cash in hand, pull up the shipment, sell at a loss and buy back, and rolling operation is the best strategy
6. Short-term trading mainly depends on trading volume and charts. Trade when the charts are actively fluctuating, and avoid when the charts are inactive.
7. If the decline becomes slow, the rebound will also be slow; if the decline accelerates, the rebound will also be fast.
8. If you make a wrong purchase, you must admit it, stop loss in time and protect your principal. This is the key to survival in the market.
9. When doing short-term trading, you must look at the 15-minute K-line chart. You can find better buying and selling points based on the KDJ indicator.
10. There are thousands of techniques and methods for cryptocurrency trading. It is enough for you to be proficient in and master a few of them. Don't be greedy.