There is a seemingly simple yet effective method for trading cryptocurrencies that can capture almost all profits and requires gradual learning. First, when trading cryptocurrencies, always avoid doing three things.
1. Never buy during a price increase#
Avoid buying when prices are rising; instead, be greedy when others are fearful and fearful when others are greedy, developing the habit of buying during price declines.
2. Never place large orders#
3. Never go all in#
Going all in makes you very passive; there are many market opportunities, and the opportunity cost of going all in is extremely high.
Six mantras for short-term cryptocurrency trading#
1. After a period of consolidation at high prices, new highs usually occur; after consolidation at low prices, new lows usually occur. Therefore, wait for a clear direction of the trend before acting.#
2. Do not trade during sideways movement#
Many traders incur losses because they cannot adhere to this basic principle: do not trade during sideways movement.
3. When choosing candlesticks, buy on the daily close of a bearish candle and sell on the daily close of a bullish candle#
4. A slowing decline leads to a slow rebound; an accelerated decline may lead to an accelerated rebound#
5. Use a pyramid buying method to build positions; this is an unchanging truth in value investing#
6. When a cryptocurrency continues to rise or fall, it will inevitably enter a consolidation phase. At this point, there is no need to sell all at high prices or buy all at low prices. Because after consolidation, a trend change is inevitable; if the trend changes downward from a high position, you should clear your positions 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 often feel confused and even suspect issues with the exchanges. In fact, this is due to the network environment, not platform failures. Therefore, exchanges like OKX and Binance regularly update backup domain names to ensure users can access the official website through alternative addresses.
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