Six Survival Rules in the Cryptocurrency World
1. Trend First
Without a trend, there is no profit-making effect. Large funds only engage in trending trades; if there is no trend, they either stay in cash or play with small funds.
2. Choose the Right Coin
Choosing the right coin is a key factor in determining your success. Strong coins will experience one-sided oscillating increases, characterized by: large gains and small drawdowns.
3. Learn to Stay in Cash and Wait
Absolutely do not chase high prices; it’s better to stay in cash and wait for a bottom or a stage bottom to enter. Buy strong coins that have good technical patterns, and research extensively before purchasing. Avoid weak coins.
4. Be Able to Hold
After buying, do not sell unless a top formation appears. Keep holding until a topping signal is seen.
5. Don't Catch the Tail
Sell when prices reach relatively high levels; it's fine to avoid catching the tail as risks increase the further you go.
6. Understand Liquidation
You need to know how to sell a portion of your profits to convert them into fiat, ensuring you have enough cash flow to support your living expenses.
