Ten years of trading coins, summarizing the top ten points for becoming rich through trading coins (worth collecting)
Is it reliable to become rich by trading coins?
In the crypto world, achieving financial freedom and class mobility must follow the iron laws of the market: The top ten points for becoming rich through trading coins
1. Keep a close eye on Bitcoin trends
In the crypto world, Bitcoin often leads the direction of rises and falls. Although Ethereum can sometimes perform strongly and show independent trends, most altcoins are influenced by it.
2. Pay attention to the relationship between Bitcoin and USDT
Bitcoin and USDT often move inversely; when USDT rises, beware of a drop in Bitcoin, and when Bitcoin rises, it’s a good opportunity to buy USDT.
3. Seize trading opportunities in the early morning
From 0:00 to 1:00 daily, there is often a spike phenomenon. Domestic crypto enthusiasts can place low buy orders for their desired coins before sleeping and high sell orders, or they might get surprising transactions and profit easily.
4. Observe the morning rise and fall trends
Every morning from 6 to 8 o’clock is a key period for deciding to buy or sell. If there is a continuous drop from 0:00 to 6:00, and it continues to drop at this time, it is advisable to buy or refill positions, as there is a higher chance of a rise that day; if it continues to rise, it is advisable to sell as there’s a high probability of a drop that day.
5. Pay attention to afternoon volatility
Pay special attention at 5 PM, as due to time differences, American crypto enthusiasts start trading, which may trigger price fluctuations; many large rises and falls occur at this time.
6. Be cautious of "Black Friday"
There is a saying in the crypto world about "Black Friday"; although there can be significant drops on Fridays, there can also be large rises or sideways movements, just keep an eye on the news.
7. Be patient with falling coins
If a coin with a certain trading volume drops, don’t worry; holding patiently can recover costs. It may take as short as 3 or 4 days, or as long as a month. If you have extra money, you can refill positions in batches to speed up recovery, unless it’s a worthless coin.
8. Stick to long-term spot trading
When trading spot, holding the same coin long-term and trading less can yield greater returns than frequent trading; it just depends on your patience.
9. Pay attention to external influencing factors
The crypto world is affected by many factors, such as the attitudes of various countries towards cryptocurrencies, which can lead to drops if negative; U.S. financial policies, like rumors of a wealthy tax; the views of big players on cryptocurrencies, such as Musk’s statements. Keep an eye on financial news.
10. Maintain a good trading mindset
A good mindset is crucial in trading; don’t panic during significant drops, don’t be complacent during large rises, and secure your profits.
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