Key Points to Know About Making Money with Cryptocurrency Trading
Short-term trading is not speculation; it is an investment approach that involves mastering market fluctuations through skills and experience.
Successful short-term trading requires a clear plan, strict discipline, and technical support.
First, set clear investment goals and determine the funds to invest and the return targets based on your risk tolerance, avoiding blind following of trends.
Choosing the right cryptocurrencies is crucial, ensuring that the assets have sufficient liquidity and volatility to reduce risks.
Technical analysis is at the core of short-term trading. Familiarize yourself with commonly used indicators such as KDJ and RSI, and combine them with moving averages (like the 5-day, 10-day, and 20-day moving averages) to determine buy and sell timing.
Control your position and leverage to avoid excessive risk. When profiting, close positions in a timely manner and remain rational.
Maintain trading discipline, avoid placing orders impulsively, follow your trading plan, and prevent market emotions from interfering.
Finally, avoid trading during periods of extreme market volatility, be patient, and wait for the right opportunity, steering clear of blind trend-following.
Short-term trading is an investment method that requires skills, patience, and strategy. By mastering these key points, you can achieve stable profits in the market.
