After ten years of trading, I’ve experienced three years of hardships but also enjoyed seven years of gains. This investment has now become my way of supporting my family. Throughout this journey, I’ve developed six simple yet highly practical experiences that are especially suitable for beginners to listen to.
First rule, focus on strong cryptocurrencies. When trading, we need to keep an eye on those coins that are performing well. If you're uncertain, look at the 60-day moving average; if it's above, we should enter or buy more; if it's below, we should withdraw quickly. This trick works quite well most of the time.
Second rule, never chase highs. If a coin suddenly rises by over 50%, you must resist the urge to jump in; it’s easy to get flustered at that moment. On the contrary, buying at a lower price is safer, less risky, and there are greater opportunities to make money in the future.
Third rule, learn to recognize bullish signals. Before a big rise, the price often fluctuates within a small range, about 10% to 20%, and the trading volume is usually low. At this time, you can try to buy slowly at lower prices; you might just catch the wave of the upward trend.
Fourth rule, stay updated with new trends. Once a new trend emerges in the market, it's sure to be very hot in the first few days. At this time, if you follow those big investors, you can generally make some easy profits.
Fifth rule, remain calm when a bear market hits. If a bear market comes, you need to stay steady; it's best not to make any hasty moves for at least six months. When the market is bad, trade less and rest more; this is the hallmark of a trading expert.
Sixth rule, regularly review and adjust your strategy. Every week, take a look back at how you have been trading; don’t just focus on how much money you’ve made, but it’s important to assess whether your strategy is right. If it’s correct, stick with it; if it’s wrong, change it. After a few months, your trading strategy will definitely become more reliable.
Lastly, don’t forget that success doesn’t come from nowhere; it’s for those who are always prepared. The same goes for trading; as long as you are willing to learn, observe, and adjust, you too can become someone who is always ready.
That's all for today, click to follow to avoid getting lost.