Want to earn steadily? Avoid these three major cryptocurrency trading taboos!

The most important aspect of trading cryptocurrencies is stability; don't rush for quick profits. Many people dream of getting rich overnight, but in reality, stable profits often rely on some 'foolish' methods. These methods may not be flashy, but they are particularly reliable and can help you stabilize your earnings and control risks.

Today, let's talk about these 'foolish' methods and remind you to avoid three major taboos.

First, don’t chase after rising prices. When the market rises quickly, everyone sees others making money and thinks about following suit. This kind of 'herd' behavior often leads to being trapped. Remember, 'buy when it dips, sell when it rises'; have the courage to enter the market during panic and know how to stay calm when the market is overheated. This can help you avoid a lot of risks.

Second, don’t put all your eggs in one basket. Many beginners like to bet all their funds on one cryptocurrency, which is very risky. Cryptocurrency trading requires diversifying risks; don’t put all your money on a single trade. For example, allocate 10% of your funds for long-term investments, 20% for short-term swings, and keep 30% as backup. This can effectively prevent significant losses.

Third, don’t operate with a full position. In pursuit of high returns, some people prefer to go all in, but this means that the risks will also increase. Keeping some margin can help you cope with market fluctuations and seize new opportunities. Therefore, the key to short-term trading is flexibility, not just increasing positions blindly.

In addition to these three major taboos, there are a few tips that can help you trade cryptocurrencies more steadily.

For instance, when the prices are very high, don’t rush to enter the market, and when they are very low, don’t rush to sell; wait until the market trend is clearer before making decisions. When the market is consolidating, it’s best to remain observant and avoid blind operations. Learn to read candlestick charts to gauge market sentiment and act accordingly. When the market declines rapidly, rebounds can also be sharp, so pay attention to the rebound speed to determine if profits can be realized.

The pyramid building method is also a stable strategy; gradually increase positions during market declines and reduce holdings during rebounds to lock in profits. Moreover, after experiencing sharp fluctuations, the market usually consolidates, so don’t rush to act; wait for clearer signals.

In summary, the key to cryptocurrency trading is stability. By avoiding these taboos, reasonably diversifying risks, flexibly responding to market fluctuations, and adding some little tricks, you can steadily earn profits in this highly volatile market.