Did you know? Trading cryptocurrencies actually has tricks to it. With just simple operations, making big money is not impossible. Do you believe it?
Let’s get straight to the point. Everyone just needs to remember this mnemonic:
First, wait and observe during sideways trends, act only when the trend changes. When the market is not clear, don’t rush. Be patient and wait for the direction to become clear before taking action. This way, you can be more secure.
Second, don’t get attached to hot positions, frequently change your holdings. Those popular positions shouldn’t be held onto too tightly. Once the hype is over, the funds will leave too. If you react a bit slowly, you might get trapped, so always pay attention to your positions and change them in time.
Third, hold steady during a gap up. In the process of rising, if you see a K-line with a high opening positive line and the volume is also increasing, this indicates that the market is accelerating. At this time, you should firmly hold onto your coins and wait for them to continue rising.
Fourth, exit at the end of a massive bullish candle. Whether at a high or low position, if a massive bullish candle appears, there’s a high probability that a pullback will follow. Even if it hits the limit up, you should quickly pull out; otherwise, the profits you’ve made could disappear, which would be a pity.
Fifth, buy on bearish signals and sell on bullish signals. Learn to observe key indicators such as moving averages, support levels, and resistance levels. The daily moving average is like an offensive line; generally, observe for three days to a week, and if you’re trading short-term, don’t drag your feet.
Sixth, don’t sell during spikes, don’t buy during plunges, and don’t act during sideways movements. This is a very important survival rule in the crypto world, and everyone must remember it well.
Seventh, prepare before buying, focus on small investments. Do not invest all your funds at once, as changes in the crypto world are too fast and filled with uncertainties. Before buying, you must ask yourself four questions: Why am I buying? How am I planning to operate? What will I do if it drops? How will I cope if I get trapped? Only when you have everything figured out can you respond calmly, and then stable profits will no longer be just a dream.