Now relying on trading cryptocurrencies to support my family, I have gained 6 invaluable experiences. The content may be brief, but every word is worth its weight in gold!!!
1. Trade strong cryptocurrencies. If you don't know how to judge the strength of a cryptocurrency, use the 60-day moving average as a boundary. When the price is above the 60-day moving average and stabilizing, you can enter or increase your position. Exit if it falls below the 60-day moving average. Strictly adhering to this rule applies to most assets!
2. Avoid those that have risen more than 50% consecutively. If it rises a little, you won’t be able to hold on and will instead be filled with worry. In comparison, having a position at a lower price offers greater advantages and better cost-effectiveness. First, risks can be controlled, the upward momentum is stronger, and the chances of success are higher.
3. Before a main upward trend forms, there will be obvious characteristics. Usually, there will be a wave of small fluctuations with a rise and fall of -10% to 20%. When the price is relatively low, you can actively participate in batches; there is a high probability of a round of market movement.
4. When a new concept or opportunity emerges in the market, there is a high likelihood of 3-5 days of upward space. By grasping this pattern, you can easily ride the coattails of the main force!
5. When a bear market arrives, at least stay out of the market for more than six months. In a poor market, operate less. Knowing how to buy is the apprentice; knowing how to sell is the master; knowing when to stay out and rest is the true master!
As an investor, while pursuing high returns, it is essential to carefully assess risks and invest rationally.
If you like contracts, enjoy studying charts, and researching techniques, click on my avatar. I have years of experience and skills in the crypto space to share freely. I am waiting for you in the circle, always online, and welcome to discuss and improve together.
