If you’ve made up your mind to make crypto trading a lifelong pursuit, and even hope to support your family with it someday, $AKE
then engrave these 10 ironclad rules into your bones. There isn’t much to them, but every word was paid for with real money.
1. When a strong coin keeps pulling back, don’t rush to buy the dip.
First, check whether support is holding and whether trading volume is shrinking. Wait until selling pressure eases and the price action stabilizes.
2. When a coin keeps rising, keep take-profit firmly in mind.
The more it rises, the more closely you should watch for a pullback. Don’t let a handsome paper profit turn into a loss because you held on too long.
3. If a coin surges violently in a short time, don’t get carried away and chase it. $AIN
Watch the volume and price action that follow to see whether it still has the strength to keep rising.
4. With a truly strong coin, wait for a pullback before buying in.
Rather than chasing the price until you’re exhausted, be patient and wait for it to return to a key support zone.
5. Don’t waste your time on a coin that’s been trading sideways for too long.
Focus on whether trading volume is changing and whether the price has broken through a key level. If nothing is happening, leave it alone.
6. Before entering a trade, decide where your stop-loss will be.
If the market doesn’t go as expected, exit according to plan. Don’t let that nagging feeling of regret turn a small loss into a big one.
7. You can check the top-gainers list, but don’t follow it blindly.
Popular coins are often the most volatile. Just because others have already made money on a move doesn’t mean there’s still anything left for you if you enter now.
8. Understanding the relationship between volume and price is more valuable than looking at price movements alone.
A breakout on high volume near the lows deserves close attention. But if volume surges near the highs and the price can’t rise, beware of disagreement among market participants and a possible pullback at any moment.
9. When trading, try to go with the trend.
For short-term trades, look at short-term structure; for medium-term trades, look at the bigger picture. Moving averages can help you judge direction, but don’t base a buy or sell decision on a single moving average.
10. With a small account, you need to be especially disciplined about position sizing and patience.
Don’t rush to double your money, and certainly don’t keep adding to a position just to break even.
I’ve always felt that the hardest part of crypto trading isn’t finding opportunities. It’s whether you can recognize them when they come, and whether you can get out in time when you’re wrong.
If you want to stay in this market for the long haul, be less impulsive and more deliberate. Don’t trade what you don’t understand, don’t chase what you’re unsure about, and learn to protect the money you’ve earned.
then engrave these 10 ironclad rules into your bones. There isn’t much to them, but every word was paid for with real money.
1. When a strong coin keeps pulling back, don’t rush to buy the dip.
First, check whether support is holding and whether trading volume is shrinking. Wait until selling pressure eases and the price action stabilizes.
2. When a coin keeps rising, keep take-profit firmly in mind.
The more it rises, the more closely you should watch for a pullback. Don’t let a handsome paper profit turn into a loss because you held on too long.
3. If a coin surges violently in a short time, don’t get carried away and chase it. $AIN
Watch the volume and price action that follow to see whether it still has the strength to keep rising.
4. With a truly strong coin, wait for a pullback before buying in.
Rather than chasing the price until you’re exhausted, be patient and wait for it to return to a key support zone.
5. Don’t waste your time on a coin that’s been trading sideways for too long.
Focus on whether trading volume is changing and whether the price has broken through a key level. If nothing is happening, leave it alone.
6. Before entering a trade, decide where your stop-loss will be.
If the market doesn’t go as expected, exit according to plan. Don’t let that nagging feeling of regret turn a small loss into a big one.
7. You can check the top-gainers list, but don’t follow it blindly.
Popular coins are often the most volatile. Just because others have already made money on a move doesn’t mean there’s still anything left for you if you enter now.
8. Understanding the relationship between volume and price is more valuable than looking at price movements alone.
A breakout on high volume near the lows deserves close attention. But if volume surges near the highs and the price can’t rise, beware of disagreement among market participants and a possible pullback at any moment.
9. When trading, try to go with the trend.
For short-term trades, look at short-term structure; for medium-term trades, look at the bigger picture. Moving averages can help you judge direction, but don’t base a buy or sell decision on a single moving average.
10. With a small account, you need to be especially disciplined about position sizing and patience.
Don’t rush to double your money, and certainly don’t keep adding to a position just to break even.
I’ve always felt that the hardest part of crypto trading isn’t finding opportunities. It’s whether you can recognize them when they come, and whether you can get out in time when you’re wrong.
If you want to stay in this market for the long haul, be less impulsive and more deliberate. Don’t trade what you don’t understand, don’t chase what you’re unsure about, and learn to protect the money you’ve earned.
