Several Requirements for Making Money in Cryptocurrency Trading!

Many people say that short-term trading is speculation. First of all, I want to say that short-term trading is not speculation. True short-term trading involves mastering certain market operation rules and requires strong skills. It actually tests a person's skill and patience.

1. Formulate a clear investment plan. If you want to do short-term trading, you first need to create a clear investment plan for yourself, including how much capital to use and what monthly return to expect. All of this needs to be planned according to your risk tolerance.

2. Ensure that you have enough time and energy. Intraday trading emphasizes the number of profitable trades rather than the size of each profit. Develop your own trading principles and habits; do not trade just for the sake of trading, and don't feel anxious about not placing trades.

3. Because short-term investments generally involve frequent trading, it is very important to choose the right cryptocurrencies. The trading must be continuous.

4. When in profit, close the position once you reach your psychological level; do not aim to capture all the profits. Also, pay attention to position size and leverage control. Learn to strictly manage your position size based on the leverage of the products you trade combined with your capital.

5. Utilize technical indicators: There are countless technical indicators in the market, with at least over a thousand. Each has its focus, and it's impossible for investors to be familiar with all of them; just knowing a few is enough. Commonly used technical indicators include KDJ, RSI, etc.

6. Utilize moving averages: Short-term trading generally refers to the 5-day, 10-day, and 20-day moving averages. When the 5-day moving average crosses above the 10-day and 20-day moving averages, and the 10-day moving average crosses above the 20-day moving average, it is called a golden cross, indicating a buying opportunity. Conversely, it is called a death cross, indicating a selling opportunity.

7. During rapid fluctuations, try not to trade.

8. Do not look at too many analyses from others; everyone has a different opinion. Price movements are influenced by numerous factors, and all predictions about the future are a 50-50 gamble, half right and half wrong. Just believe in yourself!