There is a seemingly simple yet effective method for trading cryptocurrencies that can capture almost all profits, requiring gradual learning. First, when trading cryptocurrencies, always avoid doing three things.
1. Never buy when prices are rising#
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 downturns.
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 the price of a coin consolidates at a high level, it usually reaches a new high; after consolidating at a low level, it usually reaches a new low. Therefore, wait for a clear direction of change before acting.#
2. Do not trade during sideways movements#
Many traders incur losses because they cannot adhere to this basic principle: do not trade during sideways movements.
3. When selecting 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 accelerating 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 time, there is no need to sell all at high prices or buy all at low prices. Because after consolidation, there will inevitably be a change; if the change is downward from a high position, you should clear your position in time.#
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🔥 Solve the issue of accessing OKX, Binance, Huobi, and other exchanges in mainland China#
Many original domain names of exchanges may be restricted, or access may be slow due to overseas servers. Ordinary users often feel confused and even doubt the exchange's issues. 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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- OKX backup domain Overseas OKX - Need to use a VPN or Backup link
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- Binance backup domain Binance
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