From the moment we start trading, we all hope our trades will be successful in the future. We hope that forex trading can change our lives or improve our quality of life. Today, I will share some valuable insights, just remember this mantra:
First, watch and wait during consolidation, take action when the trend changes. When the market is not yet clear, do not rush; be patient and wait until the direction is clear before taking action, so you can be more secure.
Second, don't cling to hot positions, frequently change your holdings. Those popular positions should not be clung to; once the heat is gone, the funds will follow suit. If you react a little slowly, you might get stuck, so always keep an eye on the position situation and change it in time.
Third, a gap up, hold steady. During the upward trend, if you see a high opening bullish candlestick and the volume increases, it indicates that the market is accelerating. At this time, you should steadily hold onto your coins and wait for them to continue rising.
Fourth, massive bullish candlestick, exit at the end of trading. Whether at a high or low position, as long as there is a massive bullish candlestick, it is very likely to pull back afterward. Even if it hits the limit up, you should quickly withdraw; otherwise, the profit you earned could be lost, and that would be a shame.
Fifth, buy on bearish lines online, sell on bullish lines offline. Learn to observe key indicators like moving averages, support, and resistance levels. The daily moving average is like an offensive line, usually observed for three days to a week. If doing short-term trading, be sure not to procrastinate.
Sixth, don't sell at highs, don't buy at lows, and stay still during consolidation. This is a very important survival rule in the cryptocurrency world, so everyone must remember it.
Seventh, prepare before buying, focus on small entries. Don't invest all your funds at once; after all, the changes in the cryptocurrency market are extremely fast and full of uncertainties.
Before buying, ask yourself four questions: Why buy? How do you plan to operate? What if it drops? How should you respond if you get stuck? Only when you have thought it through can you handle it calmly, and then stable profits will no longer be just a dream.