Cryptocurrency Trading Practical Guide: Six Simple Steps to Help You Profit Steadily

After ten years in cryptocurrency trading, I endured three years of hardship but also enjoyed seven years of sweet rewards. This investment has now become my means of supporting my family. Throughout this journey, I have developed six simple yet extremely practical experiences, especially suitable for beginners to listen to.

First, focus on strong cryptocurrencies. When trading, we need to pay attention to those cryptocurrencies that are performing well. If you are uncertain, look at the 60-day moving average; if the line is above, we should enter the market or buy more; if the line is below, we should withdraw quickly. This method is quite effective and works most of the time.

Second, never chase high prices. If a cryptocurrency suddenly rises by more than 50%, do not rush in; entering at this point can lead to panic. On the contrary, buying at a low price is safer, with lower risk, and greater potential for future profits.

Third, learn to identify bullish signals. Before a significant rise, prices often fluctuate within a small range, about 10% to 20%, and the trading volume is not high. At this time, you can try to slowly buy in at low prices; you might just catch the fast train of an upward trend.

Fourth, closely follow new hotspots. Once a new hotspot appears in the market, it is sure to be particularly hot in the first few days. During this time, if you follow the big money bags, you can usually earn some profits easily.

Fifth, stay calm when a bear market arrives. If a bear market comes, you must remain steady; it’s best not to take any drastic actions for at least six months. When the market is poor, trade less and rest more; this is the hallmark of a skilled trader.

Sixth, regularly review and adjust your strategies. Every week, take a moment to reflect on how you have been trading. Don’t just focus on how much money you’ve made; it’s important to evaluate whether your strategies are correct. If they are, stick with them; if not, adjust them. After a few months, your trading strategies will definitely become more reliable.