The Secret to Making Money in Cryptocurrency Trading: A Foolish Method with Great Wisdom!
In the world of cryptocurrency trading, steady and solid progress is the way to go. Here is a seemingly 'clumsy' yet actually clever strategy that helps you lock in profits and keep risks under control.
You must remember three absolute no-go zones:
Never chase highs: When others are scared to death, we bravely enter the market; when others are scrambling excitedly, we calmly observe. Remember, buy when prices drop and sell when they rise, that's what we call being smart.
Never put all your eggs in one basket: Don't put everything into one investment; the same goes for trading cryptocurrencies. Diversifying your investments is key to reducing risk.
Never operate with a full position: Having a full position will leave you immobilized. There are plenty of market opportunities, so keeping some capital on hand allows you to respond flexibly and seize the next good opportunity.
Now let's talk about six small tricks for short-term cryptocurrency trading:
Don't rush in at high prices, don't rush out at low prices: When prices are high, we wait a moment; when prices are low, don't rush to sell, wait until the trend is clearer before acting.
Don’t trade during sideways markets: When the market is sideways, the situation is unclear, and entering can easily leave you disoriented; it's better to wait until the situation is clear before acting.
Use candlestick patterns to operate: If the candlestick is bearish, try buying; if the candlestick is bullish, consider selling. Follow the trend, and you won’t go wrong.
Look at the strength of rebounds in relation to declines: If it’s a slow decline, the rebound will be weak; if it’s a rapid decline, the rebound is often stronger. Keep this in mind.
Pyramid-style buying: Buy in batches; the more it falls, the more you buy. This way, your cost is lower, and you make a guaranteed profit.
Wait for a trend change after extremes: After significant rises or falls, the market usually consolidates for a while. At this time, don’t rush to sell everything at a high point, nor buy everything at a low point. Wait for the situation to change before acting, that’s what we call playing it safe.
Bull market strategy layout, spotting opportunities in spot trading, entry points for contracts, uncovering false information fog, discovering the real market. I am Brother Pao, welcome to join!
