New Version, Worth Being Seen! #GateAPPRefreshExperience
🎁 Gate APP has been updated to the latest version v8.0.5. Share your authentic experience on Gate Square for a chance to win Gate-exclusive Christmas gift boxes and position experience vouchers.
How to Participate:
1. Download and update the Gate APP to version v8.0.5
2. Publish a post on Gate Square and include the hashtag: #GateAPPRefreshExperience
3. Share your real experience with the new version, such as:
Key new features and optimizations
App smoothness and UI/UX changes
Improvements in trading or market data experience
Your fa
If you want to survive longer in the crypto world, luck alone is far from enough. Today, let's talk about the 6 iron rules that all consistently profitable traders follow.
**Rule 1: Discipline in Adding Positions**
Only add to your position when you're making a profit; if you're caught in a loss, never top up. It sounds simple, but many people turn short-term losses into long-term bleeding by topping up. Before increasing your position, calmly ask yourself: if I liquidate now, do I have the courage to buy back in? If you can't answer, don't act. Sometimes, consider reducing your position instead. Here's a trick—flip the K-line chart horizontally; resistance and support levels become instantly clear. This method is especially useful in the crypto market.
**Rule 2: Attention to Market Details**
Don't panic and cut your position during a sudden dip in the morning; the crypto market often rebounds quickly within the day. But be cautious if there's a sudden surge at the close; it's likely a sign to reduce your holdings, as a correction is probable the next day. Small positive candles on low volume usually indicate a bottom phase. Conversely, if there's high volume but no price increase, it suggests someone is quietly offloading. It's time to run. After a huge volume spike, a pullback on mainstream coins is almost a rule, with a high success rate.
**Rule 3: The Dumb but Most Effective Moving Average Trading Method**
Don't know how to buy or sell? Use moving averages. For short-term trades, watch the 5-day MA; if it doesn't break, hold on. If it breaks, exit. For medium-term, look at the 20-day MA, with the same logic. The beauty of this method is that it doesn't fight the market; it follows the trend. Most people survive longer by sticking to this.
**Rule 4: Strict Take-Profit and Stop-Loss**
Cut your losses decisively; don't dream of turning short-term losses into long-term holdings. After making a profit, keep moving your take-profit line upward. If you gain 20% and then retrace more than 5%, it's time to exit. If you gain 30% and then give back 10%, clear your position. Crypto markets can generate quick profits, but the key is to lock in gains and avoid losses.
**Rule 5: How to Verify a Coin's Quality During a Crash**
When the market crashes and your coin is just sideways, it indicates that funds are quietly supporting the price—it's safe to hold. If the market crashes and your coin also drops but then inexplicably rebounds strongly the next day, it's often a trap to shake out weak hands. Such coins, during the next systemic downturn, can be good opportunities for low-cost accumulation.
**Rule 6: Absolute Rejection of Chasing Rallies and Panic Selling**
Chasing rallies is the start of losing money. The best buying points are always during pullbacks, not when emotions are at their peak. Don't let panic dictate your decisions during a decline; wait until key support levels are confirmed before acting. Only sell if support breaks; if not, wait for a rebound.
These 6 rules may seem ordinary, but those who can fully implement them have long achieved stable profits in the crypto market.