From 10,000 to tens of millions: 10 Practical Rules for Trading Cryptocurrencies to Help You Make Money Safely $XRP
Trading cryptocurrencies doesn't require you to be a genius. Following these simple rules can lead to more stability and easier profits. Here are 10 rules I've summarized over the years to help you avoid detours:
1. A strong coin dropping for 9 consecutive days is a signal to enter
A strong coin often rebounding after a high position correction and dropping for 9 days is a safer entry point.
2. Don't be greedy with coins that have risen for two days, reduce your holdings
A coin that rises for two days is likely to pull back, so don't be greedy; take profits at the right time.
3. If it rises more than 7% in a day, sell the next day
Coins that increase by more than 7% often fall back the next day, so don't chase high prices; maintain a wait-and-see attitude.
4. Don't be held back by nostalgia; former strong coins are no longer
Former strong coins may have faded; wait for the trend to correct before entering.
5. If a coin shows no movement for 3 consecutive days, decisively switch coins
If a coin has no movement for 3 days, it's a waste of time, and you should adjust your holdings in time.
6. If the cost cannot be recovered, cut your losses promptly
Holding onto a losing coin will only lead to greater losses; cut losses promptly to avoid larger setbacks.
7. The 3-5-7 Law: Buy low, sell high
Coins that rise for two days can be bought at lower prices, with the fifth day being a selling point; short-term upward momentum is common.
8. Volume-price relationship: Increased volume at low prices is an opportunity; increased volume at high prices is a risk
Increased volume at low prices indicates a potential start, while increased volume at high prices suggests major players are offloading.
9. Follow the trend for stable profits
Only trade coins in an upward trend; following the trend and adhering to moving averages can effectively avoid losses.
10. Small investments can also succeed, but emotion control is key
For small investments to make big money, controlling your emotions is crucial. Stay calm, operate rationally, and success is within reach.
To make money, the most important thing is to adhere to these simple principles, operate steadily, and maintain rationality without seeking quick profits.
Follow Da Sen and you might avoid many detours
