Here are 8 practical experiences and skills for trading in cryptocurrencies without losing money!
1. A sharp drop is a touchstone for testing high-quality coins. If the market falls, the coin you bought falls slightly and moves independently. It is obvious that there are dealers protecting the market, so you can hold this kind of coin with confidence and you will definitely gain something.
2. If a novice does not know how to buy and sell, the simplest and most direct method is to hold on the 5-day line in the short term and sell when it breaks the 5-day line. Hold the coin on the 20-day line in the medium term and sell it when it breaks the 20-day line. There are many methods, and the one that suits you is the best. The difficulty of trading is not that there is no method, but the execution. If you insist on repeating a method without thinking, more than 90% of people will have no problem.
3. Once the main rising wave is formed and there is no obvious increase in volume, intervene decisively, hold the coin when the volume rises, hold the coin when the volume falls but the trend is not broken, and reduce the position quickly when the volume falls and the trend breaks.
4. If there is no fluctuation after buying in the short term for three days, sell it if you can. If it does not rise but falls after buying, stop loss unconditionally at a loss of 5%.
5. If a coin falls 50% from a high position and falls for 8 consecutive days, it has entered the oversold channel, and the oversold rebound is imminent, so you can follow up.
6. When speculating in coins, you should speculate in the leading coins, only the leading coins, not the miscellaneous coins, because when it rises, the leading coins rise the most violently, and when it falls, the most resistant to falling. Don't be afraid to get on the bus. Speculating in coins is often anti-human. Don't buy because of the large decline, and don't stop buying because of the large increase. The more you dare not buy, the more it rises, and the more you dare to buy, the more it falls. The strong will always be strong. The most important thing for speculating in the leading coins in the short term is to buy high and sell higher!
7. Embrace the trend and follow the trend. The purchase price is not the lower the better, but the more appropriate the better. You will not gain an advantage because the purchase price is cheap, because the decline has no bottom. Give up the junk coins, and the trend is king.
8. Don’t trade for the sake of trading. What does it mean? When you are not sure enough that this transaction can make a profit, don’t force to open a position. Short positions are a science. Those who know how to buy are apprentices, those who know how to sell are masters, and those who know how to short positions are ancestors. The first consideration in trading is not profit, but capital preservation. Trading is not about frequency but success rate!
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