Six Major Rules for Survival in the Cryptocurrency World:
1. Trend First
Without a trend, there is no profit effect. Large funds only make trend trades; if there is no trend, they do not trade and wait for a better opportunity or play with small funds.
2. Choose the Right Coin
Choosing the right coin is a key factor in determining your success. Strong coins will experience one-sided oscillating rises, characterized by: significant gains and minimal pullbacks.
3. Learn to Wait with No Position
Never chase highs; it is better to stay out of the market and wait for a bottom or a temporary bottom to enter. Buy strong coins that have positive technical patterns after conducting thorough research; avoid weak coins.
4. Be Able to Hold
After buying, do not sell unless a topping pattern appears. Hold on firmly until a clear peak signal is observed.
5. Avoid Selling at the Tail
Sell when the price reaches a relatively high level; avoid selling at the tail. The risks increase as time goes on.
6. Understand How to Cash Out
You should know to sell a portion of your profits to maintain cash flow for living expenses.
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