Cryptocurrency Trading Practical Guide: Six Simple Steps to Help You Profit Steadily
After ten years in cryptocurrency trading, I have faced three years of hardship but also enjoyed seven years of sweetness. This investment has now become my way of supporting my family. Throughout this journey, I have developed six simple yet highly practical experiences, especially suitable for beginners to listen to.
First, focus on strong cryptocurrencies. When trading, we need to keep our eyes on those cryptocurrencies that are performing well. If you're unsure, look at the 60-day moving average; if it's above, we enter the market or buy more; if it's below, we quickly withdraw. This method is quite effective and works most of the time.
Second, never chase highs. If a cryptocurrency suddenly rises by more than 50%, don’t rush in; entering at this time can easily lead to panic. Instead, buying at a low price is safer, with less risk, and the chances of making money in the future are even greater.
Third, learn to recognize bullish signals. Before a significant rise, prices often fluctuate within a small range, around 10% to 20%, and the trading volume is low. At this time, you can try to buy slowly at lower prices, and you might just catch the fast train of the bullish trend.
Fourth, closely follow new hot topics. Once a new hot topic emerges in the market, it’s sure to be particularly popular in the first few days. At this time, if you follow the big money, you can generally make some easy profits.
Fifth, remain calm when a bear market arrives. If a bear market comes, you need to stay steady; it’s best not to act rashly within six months. During a bad market, do less trading and take more breaks; this is the demeanor of a skilled trader.
Sixth, regularly review and adjust strategies. Every week, you should look back at how you operated, not just focus on how much money you made, but importantly assess whether your strategy was correct. If it’s right, stick with it; if it’s wrong, change it. After a few months, your trading strategy will definitely become more reliable.
