There is a very foolish way to trade cryptocurrencies, but this method can almost eat away all profits, so learn slowly. First of all, when trading cryptocurrencies, we should never do three things.

The first thing is to never buy during a rise; be greedy when others are fearful, and be fearful when others are greedy. Get into the habit of buying when prices are falling.

The second is to never place large orders.

The third is to never go all in; going all in makes you very passive, and what this market lacks the least is opportunity. The opportunity cost of going all in would be very high.

Now let’s talk about the six mantras for short-term stock trading.

The first is that after the price stabilizes at a high level, there will usually be a new high. And after stabilizing at a low level, there will usually be a new low again. So, we should wait for the direction of the market change to become clear before taking action.

The second is to avoid trading during sideways movements. Most people lose money trading cryptocurrencies because they can't do this simplest thing.

The third is when selecting candlesticks, buy when the bearish candlestick appears, and sell when the bullish candlestick appears.

The fourth is that when the decline slows down, the rebound will also slow down; when the decline accelerates, the rebound will quicken.

The fifth is to build positions using the pyramid buying method, which is the only constant in value investing.

The sixth is that when a cryptocurrency continues to rise or continues to fall, it will inevitably enter a sideways state. At this time, we do not need to sell everything at the high point, nor is there a need to buy everything at the low point. Because after consolidation, a market change will inevitably occur. If the market changes downwards from a high point, we must clear our positions in a timely manner; in any case, we must push forward in a timely manner.

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