Let’s get straight to the point; just remember this mantra:
First, observe during sideways movement, take action when the direction changes. When the market is not very clear, do not rush; you must patiently wait for the direction to become clear before taking action, as this will ensure more stability.
Second, don't cling to hot positions, frequently change holdings. Those popular positions should not be clung to; once the hype passes, the capital will also withdraw. If you are a bit slow to react, you may easily get trapped, so you must always pay attention to the position situation and change it promptly.
Third, gapped up significantly, hold steady. During the upward trend, if you see a K-line appearing with a high opening bullish candle and the volume also increases, it indicates that the market is accelerating. At this time, you should hold your coins steadily and wait for it to continue rising.
Fourth, large bullish candles, exit at the end of the day. Whether in a high or low position, as long as a large bullish candle appears, there is a high probability that a pullback will follow. Even if it hits the daily limit, you should quickly withdraw; otherwise, the profits earned may be lost, which would be a pity.
Fifth, buy on bearish lines, sell on bullish lines. Learn to observe key indicators such as moving averages, support levels, and resistance levels. The daily moving average is like an offensive line; generally, observing for three days to a week is sufficient. If you are doing short-term trading, make sure not to procrastinate.
Sixth, do not sell on highs, do not buy on dips, remain still during sideways movement. This is a very important survival rule in the cryptocurrency space that everyone must remember.
Seventh, prepare before buying, prioritize small investments. Never invest all your funds at once, as the changes in the cryptocurrency market are too rapid and full of uncertainties. Before buying, you should ask yourself four questions: Why buy? How do I plan to operate? What if it drops? How should I respond if I get stuck? Only when you have considered these questions can you respond with ease, making stable profits no longer just a dream.