There is a basic method for trading cryptocurrencies that can absorb almost all profits and needs to be mastered gradually. First, we should never do three things when trading cryptocurrencies.
1. Never buy when prices are rising#
Be greedy when others are fearful, and be fearful when others are greedy. Learn to buy during downturns and make it a habit.
2. Never place large orders#
3. Never go all in#
Going all in makes you very passive; the market never lacks opportunities, and the opportunity cost of going all in is extremely high.
Six mantras for short-term cryptocurrency trading#
1. After a consolidation at high prices, there is usually a new high; after a consolidation at low prices, there is often a new low. Therefore, wait for a clear direction change before acting.#
2. Do not trade during sideways movement#
Many people lose money trading cryptocurrencies simply because they cannot adhere to this most basic principle.
3. When selecting candlesticks, buy on a bearish close and sell on a bullish close.#
4. A slowing downtrend leads to slow rebounds; an accelerating downtrend leads to quick rebounds.#
5. Use the pyramid buying method to build positions; this is the unchanging truth of value investing.#
6. When a cryptocurrency continues to rise or fall, it will inevitably enter a sideways state. At this time, there is no need to sell all at high prices or buy all at low prices, as a change will occur after consolidation. If it changes downward from a high position, clear your position in time; conversely, follow up in time.#
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Many exchanges' original domain names may be restricted, or access may be slow due to overseas servers. Ordinary users may be confused and even doubt the exchange's issues. In reality, it is due to the network environment, not service interruptions. Exchanges like OKX and Binance regularly update backup domain names to ensure access.
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