Here’s a paraphrased version:
There’s a less-than-ideal way to trade cryptocurrencies that can seriously eat into your profits. It’s important to learn at a steady pace and avoid certain common mistakes. Here are three things to never do when trading crypto:
1. Don’t buy when prices are rising. Follow the principle of being greedy when others are fearful and fearful when others are greedy. Make it a habit to buy during price dips.
2. Don’t suppress orders.
3. Don’t go all-in. Being fully invested can leave you in a passive position, and the market is full of opportunities. Going all-in has a high opportunity cost.
Now, let's dive into six short-term trading tips:
1. After the price consolidates at a high level, it usually makes a new high. Conversely, after a low consolidation, expect a new low. Wait for the trend to become clear before taking action.
2. Avoid trading when prices are moving sideways. Many people lose money because they can’t stick to this simple rule.
3. When using the K-line for analysis, buy on the daily line and when it closes negative. Sell when the market turns positive.
4. A slow decline leads to a slow rebound, and an accelerated drop often leads to a faster recovery.
5. Build your positions using the pyramid buying method—this strategy is a cornerstone of value investing.
6. When a coin experiences a continuous rise followed by a decline, it will eventually enter a sideways phase. You don’t need to sell everything at the top or buy everything at the bottom. After consolidation, the market will shift. If it moves from high to low, clear your position in time. The key is to be ready to act quickly.
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