Are you still losing money trading cryptocurrencies? Here are 7 practical tips to ensure you make a profit!

1. A sharp decline is the touchstone for quality coins. If the market drops and the coin you bought only slightly declines, showing independent trends, it’s clear that there are strong hands protecting it, so you can hold this coin with confidence; there will be rewards.

2. If beginners don’t know how to buy and sell, the simplest method is to hold above the 5-day moving average for short-term trades. Sell if it breaks below the 5-day line. For mid-term trades, hold above the 20-day moving average, and sell if it breaks below the 20-day line. There are many methods; the best is the one that suits you. The difficulty in trading is not the lack of methods, but the execution. Persistently and mindlessly using one method, over 90% of people will not have issues.

3. Once a main upward wave forms without a significant increase in volume, enter decisively. Hold if it rises with volume, and if it declines with reduced volume while the trend is not broken, continue to hold. If it falls with volume and breaks the trend, quickly reduce your position.

4. If you buy short-term and there’s no fluctuation for three days, sell if you can. If the price falls after buying, cut your losses at 5% without conditions.

5. If a coin drops 50% from a high and falls for 8 consecutive days, it has entered an oversold channel, and a rebound is imminent; you can follow in.

6. Embrace trends and go with the flow. The buying price is not better the lower it is, but the more appropriate it is. You won’t gain an advantage just because the buying price is cheap since there’s no bottom in a decline. Abandon trash coins; trends are king.

7. Don’t trade just for the sake of trading. What does this mean? It means that when you don’t have enough confidence that this trade will be profitable, don’t force yourself to open a position. Being in cash is a skill; the one who knows how to buy is a novice, the one who knows how to sell is a master, and the one who knows how to stay in cash is a grandmaster. In trading, the first consideration should not be about profit but about preserving capital. It’s not about frequency but about success rate!

In mid-November, I advised fans to accumulate XRP for the long term. At that time, the entry point was around 0.8, and the current highest price is around 2.91, achieving a 256% increase. This also directly multiplied the position by 7-8 times.

If you are currently confused about trading, comment 111 to help you get rich.

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