$ETH After countless losses in cryptocurrency trading, I now fully rely on it to support my family.
I have summarized 6 invaluable experiences, each word is like gold; although simple, every point is filled with wisdom. Here are 6 pieces of advice you must remember:
1. Avoid consistently rising by over 50%, as you won't be able to hold onto it after a small increase, and instead will be filled with anxiety.
$BTC Compared to that, the advantage of buying low is greater, and the cost performance is higher.
First, risks can be controlled, the upward momentum is stronger, and the odds of winning are improved.
2. Trade only strong currencies.
If you don't know how to judge the strength of a currency, use the 60-day moving average as a dividing line for strength. When the price stands above the 60-day line and stabilizes, you can enter or add to your position.
Exit if it falls below the 60-day line. Strictly adhere to this, as it applies to most targets!
3. Obvious characteristics before a major upward trend
Before the main upward trend begins, there is usually a small fluctuation of **-10%~20%**. During this time, trading volume will shrink.
If the price is at a relatively low level and this fluctuation appears, consider participating in batches.
At this time, there is a 90% chance of a strong upward market, so be prepared and layout in advance.
4. Seize short-term opportunities in new concept sectors
Whenever new concepts or sector opportunities arise in the market, there is usually a 3 to 5-day upward space.
By mastering this rule, you can easily follow the main funds in the market and seize these short-term explosive opportunities to achieve quick profits.
5. When a bear market arrives, staying in cash is the best choice
During a bear market, the overall downward trend of the market is very obvious, and staying in cash is the wisest choice at this time.
If the market is not favorable, do not trade frequently.
6. Carefully assess risks and invest rationally
As an investor, the most important thing is not to pursue high returns but to carefully assess risks.
Rational investment is the key to success.
Learn to control risks and allocate funds reasonably, and you can survive in the crypto market for the long term.
Summary: Trading cryptocurrencies is not only a technical skill but also a mindset.
Through the accumulation of these experiences, I have emerged from initial losses and gradually achieved stable profits.
