Did you know? Trading cryptocurrencies actually has its tricks. With simple operations, making big money is not impossible. Do you believe it?
Let's get straight to the point. Everyone just needs to remember the following mantra:
First, watch the sideways market, act when the trend changes. When the market is not very clear, do not rush. You must be patient and wait for the direction to become clear before taking action, which makes it more secure. Second, don't cling to hot positions, frequently change positions. Those popular positions cannot be held on to for too long. Once the heat is gone, the funds will follow suit. If you react a bit slowly, you might get trapped, so always keep an eye on your positions and change them in time.
Third, during a gap up, hold steady. If you see a high opening bullish candlestick and the volume is increasing during the upward trend, it indicates that the market is accelerating. At this point, you should hold onto your coins steadily and wait for them to continue rising.
Fourth, with giant bullish candlesticks, exit at the close. Regardless of whether it's at a high or low position, if there is a giant bullish candlestick, it is highly likely that a pullback will occur afterward. Even if it hits the limit up, you must quickly exit; otherwise, the profits in hand may be lost, which would be a pity.
Fifth, buy on the downside, sell on the upside. 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 about three days to a week is sufficient. If you're doing short-term trading, don't procrastinate.
Sixth, don't sell on spikes, don't buy on dips, remain still during sideways markets. This is a very important survival rule in the crypto world; everyone must remember it well.
Seventh, prepare before buying, focus on small entries. Never invest all your funds at once, as the changes in the crypto world are too fast and full of uncertainties. Before buying, you must ask yourself four questions: Why buy? How to operate? What to do if it drops? How to respond if trapped? Only when you have thought it through can you respond freely when the time comes, making stable profits no longer just a dream.