Currently relying on cryptocurrency trading to make a living, I have gained 6 invaluable experiences. Although the content is not extensive, 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 the dividing line for strength. When the price is above the 60-day moving average and stabilizes, you can enter or add to your position. Exit if it falls below the 60-day line. Strict adherence to this rule applies to most assets!
2. Avoid those that have increased by more than 50% consecutively; if it rises a bit, you won't be able to hold on and will instead be filled with anxiety. In comparison, low-position advantages are greater and offer better value for money. First, risks can be controlled, the upward momentum is stronger, and chances of success are significantly improved.
3. Before a main uptrend forms, there will be obvious characteristics, usually a small fluctuation with a rise or fall of -10% to 20% in low volume. When the cryptocurrency price is relatively low, you can actively participate in batches; there is a 90% chance of a market rally.
4. When a new concept or sector opportunity emerges in the market, there is a high probability of a 3-5 day upward space. Grasping this rule allows you to easily ride the coattails of the main players!
5. When a bear market arrives, at least stay in cash for over six months. During unfavorable market conditions, operate less. Knowing how to buy is a novice, knowing how to sell is a master, and knowing to rest in cash 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 researching market trends, and studying techniques, click on my avatar. With years of experience and skills in the crypto space, I share them freely. I'm here waiting for you in the circle, always online. Welcome to discuss and progress together.