Never enter the cryptocurrency space with this mindset; those who do have already lost. Those who play with cryptocurrencies should primarily focus on accumulating coins. When chatting over tea or meals, if you boast to your friends that you are into cryptocurrencies, how can you still claim to be a big player in the space if you can't even show a single coin? Contracts are just a process; accumulating coins is the end goal. The cryptocurrency space won’t make you rich overnight, but mastering the techniques can bring you substantial profits. Teacher Lele shares years of experience and insights in the cryptocurrency space, wishing every friend who comes across Lele's article to become wealthy in 2024! Looking forward to 2025!
If you are new to the cryptocurrency space, you need to remember these most effective trading rules:
1. Buy horizontally and buy dips, don’t buy vertically; sell at the peak of excitement; 2. Continuous small increases are real increases, continuous large increases signal to exit; 3. A significant surge requires a pullback; don’t dig deep holes or make large purchases; 4. Main rises accelerate to the peak; sell quickly on sharp declines and sell slowly on gentle rises; 5. Sharp declines with low volume are intimidation; withdraw quickly on gradual declines with increasing volume; 6. Price breaking the life line, don’t hesitate to make a swing trade; 7. Pay close attention to daily and monthly lines, build positions following the main force; 8. If the coin price rises without volume, the main force is luring more in, do not guard;
A decrease in volume at a new low is a bottom signal; an increase in volume during recovery is an entry signal. In the cryptocurrency space, the simpler things are often the more effective; all these rules are the crystallization of wisdom.
Learn these rules, remember them, and apply them in practice; it will definitely help you avoid many detours.
The "Art" of trading: application of technical indicators
For the secondary market, we can also divide investment into Dao, Fa, and Shu, and all three are indispensable.
Dao: represents investment philosophy and belief, which is the direction, goals, and values of investment. Includes analysis of long-term market trends, macro conditions, and fundamentals.
Fa: represents the rules and regulations of investment, including investment strategies, risk management, and asset allocation.
Shu: represents technical analysis, quantitative analysis, and trading psychology.
Today, this report will focus on the "Art" of trading, with the aim of sharing the application of technical indicators and technical analysis in practice. For the vast majority of people, there is no need to learn many obscure technical indicators because technical indicators are lagging and cannot directly yield profits. This report will share commonly used technical indicator methods to let more people understand the significance of technical analysis.