😀Those with fate can brush this content Eight Iron Rules of Cryptocurrency Trading
Entry Criteria: When entering the market, don’t just focus on the K-line trend of cryptocurrency trading. For short-term trading, you must also refer to the 30-minute K-line, and the overall market should be stable and in resonance before making a move. For example, sometimes a K-line with a long upper shadow may seem like there is no opportunity, but the next day it might break out with a large bullish line or even hit the limit up. By then, looking at the 30-minute K-line will help you understand the nuances.
Go with the Trend: If the trend and order are not right, even looking again is a mistake. You should operate in accordance with the trend, and the order of the upward movement must not be disrupted.
Focus on Hotspots: If you are not within the scope of hotspots or potential hotspots for short-term trading, it’s better not to trade at all.
Restrain Impulse: You must give up all impulsive entry actions and trade according to your plan. Make sure to prepare the plan before trading.
Independent Thinking: The views and opinions of others are for reference only; you must have in-depth thinking and serious analysis.
Set the Direction First: Determine the direction first, and then carefully select specific cryptocurrencies. Choosing the right direction can lead to efficient results; choosing the wrong direction can lead to poor results.
Intervene in the Trend: Intervening in currencies that are currently rising is a big taboo if you are constantly trying to guess the bottom, because stock prices often move towards areas of low resistance. Intervening in currencies that are on the rise is essentially choosing a direction with less resistance.
Review and Reflect: After a big win or loss, you should first close your position, re-examine the market and your own situation, understand the reasons for the big win or loss, and then it’s not too late to act again. Years of cryptocurrency trading experience show that it is very necessary to close positions after a big win or loss.
