If you want to become a successful short-term cryptocurrency trader, you must remember the following 5 golden rules!
First, do not trade frequently. Many people believe that the higher the trading frequency, the more profit they will make, but in reality, excessive trading will only trap you in a vicious cycle.
Second, do not go against the trend. Once a trend is established, it is difficult to change, so what you need to do is trade along with the trend.
Third, learn to wait in cash. The market is never short of opportunities; when you don't have a good trading opportunity, be patient and wait. Never trade just for the sake of trading.
Fourth, learn to cut losses in a timely manner. If you realize that your judgment is wrong, you should close your position immediately to stop the loss.
Fifth, learn to take profits. When profits reach your expectations, exit in a timely manner to lock in gains.
Remember these, and you will be able to navigate short-term trading with ease!
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