Share 8 practical experiences and skills for trading cryptocurrencies without losing money!

1. A sharp decline is a touchstone for quality coins. If the market drops and the coins you bought only slightly decline, showing an independent trend, it is clear that there are market makers supporting it. Thus, you can hold such coins with confidence, and there will be rewards.

2. If beginners do not know how to buy and sell, the simplest and most direct method is to hold above the 5-day line for short-term trading; sell if it breaks the 5-day line. For medium-term trading, hold above the 20-day line; sell if it breaks the 20-day line. There are many methods, and the best is the one that suits you. The difficulty in trading is not the lack of methods but the execution power. Sticking to a method mindlessly, over 90% of people do not have issues with this.

3. Once the main upward wave forms and there is no significant increase in volume, decisively enter the market. Hold coins during a volume increase, and if there is a volume decrease and the trend has not broken, continue to hold. If there is a volume decrease that breaks the trend, quickly reduce your position.

4. If there is no fluctuation within three days after a short-term purchase, sell if possible. If the price drops after buying, cut losses unconditionally at 5%.

5. If a coin drops 50% from its peak and continues to fall for 8 days, it has entered an oversold channel, and a rebound from the oversold condition is imminent, you can follow in.

6. When trading cryptocurrencies, focus on leading coins only, not on the less significant ones. This is because leading coins rise the most during bullish trends and are the most resilient during bearish trends. Don’t hesitate to jump in; trading cryptocurrencies often goes against human nature. Don’t buy just because it has dropped significantly, and don’t avoid buying just because it has risen significantly. The less you dare to buy, the more it goes up; the more you dare to buy, the more it goes down. The strong remain strong; for short-term trading of leading coins, the most important thing is to buy at high positions and sell at even higher positions!

7. Embrace the trend and act accordingly. The price at which you buy is not necessarily better when lower, but rather more suitable. You won’t gain an advantage just because you bought at a low price, as declines do not indicate a bottom. Abandon junk coins; the trend is king.

8. Do not trade just for the sake of trading. What does this mean? It means that if you do not have enough confidence that this trade will be profitable, do not forcefully open a position. Being in cash is an art; those who know how to buy are apprentices, those who know how to sell are masters, and those who know how to stay in cash are the ancestors. The first consideration in trading is not profit but capital preservation. What matters is not the frequency of trades but the success rate!

If you are currently confused about trading and have no direction, leave a comment 1; this bull market will help you get rich.