Trading cryptocurrencies might seem like just tapping the screen a few times, but in reality, it's all pitfalls.
If you want to eat well in the crypto world for the long term, don't rely on luck; you must follow the rules.
These tips are not flashy, but very few can actually implement them.#加密市场观察
The first rule is also a lifeline: counter-emotion operations.
When the market is rising, the community is filled with FOMO emotions; at this time, don't follow the trend;
During a waterfall drop, when the candlestick is all green and others are panic-selling, you should focus on the support level for opportunities.
This sounds simple, but I fell for it in my early years—chasing high mainstream coins got me trapped at the peak, panicking to cut losses after a few points of retracement, a painful lesson.
The second rule: never go all in. Having a full position is equivalent to betting your entire fortune on the candlestick; if your mindset collapses, your operations will definitely distort.
The crypto world never lacks opportunities; if you have no backup cash, even if you encounter a quality coin's golden pit, you can only stare in despair.
Keep 30% cash on hand to stay calm.
In practice, I figured out some tricks: when the trend is unclear, just lay flat; during sideways fluctuations, don’t guess the direction, wait for a clear breakout signal before moving;
During sideways periods, minimize high-frequency trading; not only will the transaction fees exhaust you, but it's also easy to get shaken out.
On days of big drops, look at the daily chart, and when it closes with a large bearish candle, build your position in batches;
When there's a big rise with a large bullish candle, decisively take profits on part of your position.
Additionally, pay attention to the speed of the decline; slow drops with low volume likely lack rebound strength, while sharp drops with high volume may indicate a potential rebound.
Use the pyramid method for building positions, buying more in batches as prices drop to lower your holding cost.
Remember, trading cryptocurrencies is ultimately a game against your own nature; maintain discipline, don't be greedy for overnight riches, and take a steady approach to survive longer.#加密市场反弹
Follow me for practical skills that can be implemented, see you in the Binance chat room. #CryptoWealth