After ten years of hard work in the cryptocurrency circle, I have summarized these fifteen "iron laws" for cryptocurrency trading. Please read them patiently and you will definitely gain something.
1. When the market plummets, if your coin falls slightly, it is mostly because the dealer is protecting the market. You can hold it with confidence and you will be able to make a profit later.
2. It is difficult for novices to buy and sell. For short-term trading, hold the 5-day line and sell it when the line is broken; for medium-term trading, hold the 20-day line and leave the market when the line is broken. The difficulty of trading lies in execution. If you stick to one method, more than 90% of people can be surpassed. This is the simplicity of the road.
3. If the main rising wave is formed and the volume has not increased, intervene decisively; hold the stock when the volume rises and the volume falls (the trend has not been broken); if the volume falls and the trend is broken, reduce the position quickly.
4. Buy short-term, and sell it if there is no fluctuation for three days; if the price does not rise but falls after buying, stop loss unconditionally if it loses 5%.
5. The coin falls 50% from the high and falls for 8 consecutive days, entering the oversold channel. The oversold rebound may break out at any time, so you can follow up.
6. When speculating in cryptocurrencies, you must grasp the leader. It is the strongest when it rises and the most resistant when it falls. Don't be afraid of missing out, and don't "bottom-fish" or dare not chase high. The strong will always be strong. When speculating in the leader in the short term, you must dare to enter at a high position and exit at a higher position.
7. Going with the trend is the key. The lower the purchase price, the better. It must be in line with the trend. Don't be greedy and buy junk coins. Only by following the trend can you sail to the other side of wealth.
8. It is not difficult to make a profit, but it is difficult to make a continuous profit. Don't be overwhelmed by small profits. Review the market carefully, distinguish between luck and strength, and build a stable trading system that suits you.