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There is a very foolish method for Cryptocurrency Trading, but this method can almost eat away all the profits, so take your time to learn. Firstly, when we engage in Cryptocurrency Trading, we should never do three things.
The first thing is to never buy when the prices are rising, to be greedy when others are fearful, and to be fearful when others are greedy. Be able to buy during a downturn and make this a habit.
The second is to never place a large order.
The third is to never have a full position, after a full position, it is very passive, and the most important thing in this market is the opportunity, and the opportunity cost of a full position will be very high.
Let’s talk about the six rules of short-term Cryptocurrency Trading.
The first point is that after the coin price consolidates at a high level, there is usually another new high. Conversely, after a consolidation at a low level, it often results in another new low. Therefore, we should wait until the direction of the trend becomes clear before we take action.
The second point is not to trade during sideways movements. Most people lose money in cryptocurrency trading because they cannot adhere to this simplest principle.
The third point is that when choosing the K-line, we buy on the daily line when a bearish candle closes. When a bullish candle closes, we sell.
The fourth is that the decline is slowing down, the rebound is also slow, and the decline is accelerating the rebound.
The fifth is to build a position according to the pyramid buying method, which is the only constant in value investing.
The sixth point is when a coin continues to rise. After a prolonged decline, it will inevitably enter a sideways trading state. At this time, we do not need to sell everything at this high level, nor is it necessary to buy in fully at a low level. Because after consolidation, it will inevitably face a shift in trend. If it shifts down from a high level, then one must clear their position in a timely manner; in any case, it is important to act promptly.
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