Four years ago, I met a senior in Shanghai who easily withdrew more than twelve million in the cryptocurrency market using the simplest method. He taught us that the way is always simple. Trading cryptocurrencies can be overly complicated; the more you ponder, the less accurate your judgment will be. Those who lose money trade this way; to make a profit, it's actually very simple: find a method that suits you and practice it repeatedly. Before you know it, your account balance will increase. Below are a few mantras he shared; as long as you can learn them, even if you can't multiply your money dozens or hundreds of times like the senior, at least making some pocket money is not a problem.
First, wait for highs and lows to stabilize. When the market is in a consolidation phase, it is best to observe for a while because after consolidation, a change will occur. It's best to take action after a clear market trend emerges.
Second, do not get attached to hot positions, change your holdings frequently. From start to finish, it all ends up empty. All popular short-term positions are speculative; once the heat passes, the funds will immediately exit. If you are slow, you will be left alone, confused in the wind.
Third, if there is hope for a big rise after a gap up, and the K-line is slowly rising with a high opening bullish line and increased volume, it indicates that the market is entering an acceleration phase. At this point, we must remain calm and hold our positions; what awaits you will be a wave of significant profits.
Fourth, do not get attached to large bullish lines; be decisive in exiting before the close. Whether at high or low positions, after a large bullish line appears, there will be a pullback. Even if it reaches the limit, you must exit because we need to prevent profit drawdown.
Fifth, buy on the online bearish lines and sell on the offline bullish lines, even if it seems wrong. The lines here refer to moving averages or important support or resistance levels. Short-term traders generally only look at daily moving averages and daily attack lines. I don't like to linger; I usually only hold for three days, at most no more than a week, regardless of how good it gets later on—it has nothing to do with me.
Sixth, do not chase highs, do not sell, do not panic sell, do not buy, do not move sideways. This principle can be said to be the basic rule for survival in the cryptocurrency world. If you want to survive long in the cryptocurrency space, you must remember this phrase well.
Seventh, buy in cautiously; prepare first. It is better to enter less than to enter too much. No matter how confident you are, you cannot invest all your funds at once. Because in the cryptocurrency world, the only constant is change.