Short-term trading of cryptocurrencies, you must remember these three iron rules!

First, once you make a profit, you must protect it. For example, if you buy a coin and it rises by more than 10%, you need to be careful at this point and set a rule for yourself: if the price falls back to the buying price, sell immediately without hesitation! If you make a 20% profit, you have to be even more cautious, at least ensure that you make a 10% profit before selling. The more you earn, the higher your bottom line should be; for example, if you earn 30%, then when it falls to only a 15% profit, you must sell. This way, even if you don't hit the highest point, you can let your profits roll in.

Secondly, if you incur a loss, you must cut your losses in a timely manner. For instance, if you buy a coin and end up losing 15%, don't hesitate, just take the loss and exit. Don’t wait for it to rebound; if you're wrong, you must acknowledge it and bear the loss. Remember, when you open a position, you must set a stop-loss; this is the basic skill of trading cryptocurrencies.

Finally, buy back at the original price, don't miss out. If you sell a coin and it drops, but you still believe in it, wait for it to fall to a certain level and then buy back the same amount of coins. This way, your coin quantity remains the same, but you have more capital on hand. If after selling it doesn't drop but instead rises back to your selling price, you must buy it back unconditionally; although it may waste some transaction fees, it’s better than missing the opportunity. This principle can be used alongside the stop-loss principle: buy back when it rises, cut losses when it drops; after trying a few times, you will find the trading points that suit you.