I have been trading cryptocurrencies for 10 years. At one point, I avoided talking about Bitcoin, but now I rely on it to support my family through crypto trading. Here are 6 insights that I hope will help those who come across them to avoid detours.
1. Increase your position in the direction of the trend! If the market is lively and the price of the coin is on the rise, you can 'enter first and exit later, trade more and exit less', allowing profits to run.
2. Confirm the support level before entering. The support level can be set according to your own strategy. For short-term trading, look at the 10-day moving average. Once it breaks and fails to recover the next day, you should decisively exit.
3. If the coin price is at a relatively low level and there is increased volume with stagnation, and subsequent pullbacks do not break the platform support, then it is a good time to enter. Increased volume with stagnation at low levels is a signal for major players to enter, and not breaking the support during pullbacks is a confirmation signal.
4. When you are in a losing position, you must forget your original cost. When there is a rebound, be bold enough to take profits. Wait for a pullback to re-enter, and do not always think about waiting for the price to rebound to your cost level before exiting.
5. Trade strong coins. Strong coins often rise by 30% or more but can also experience significant pullbacks. If you encounter coins that frequently surge, and the pullback is within 30%, then you can enter, as there is usually more momentum to follow.
6. When trading cryptocurrencies, do not forget your original intention. For the assets you believe in, as long as they do not break key support, you must have patience. Do not chase after others who are rising quickly, and then chase your own coins when they go up. This way, you will always be picking up sesame seeds while dropping watermelons and may end up chasing halfway up the mountain.
Recently, I plan to ambush a potential coin that is ready for a big surge; doubling it should be quite simple. I am also preparing to find some potential coins to hold until the end of the year, expecting a space for more than 10 times is not a problem. If you want to follow along, look for my bamboo leaves, leave a message, follow, like, and join the gold group.
