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There is a very foolish way to trade cryptocurrency, but this method can almost eat up all of the profits, so learn slowly. First of all, when we trade cryptocurrency, we should never do three things.
The first thing is to never buy when the price is rising; be greedy when others are fearful, and fearful when others are greedy. You should buy during a downturn and make this a habit.
The second is to never place a large order.
Thirdly, you should never be fully invested. Being fully invested makes you very passive, and the market is full of opportunities. The opportunity cost of being fully invested is very high.
Also, let's talk about the six tips for short-term Cryptocurrency Trading.
The first point is that after the coin price consolidates at a high level, there is usually a new high. And after consolidating at a low level, there is usually another new low. Therefore, we should wait for the direction of the market change to become clear before making any moves.
The second point is not to trade during consolidation. Most people lose money in Cryptocurrency Trading because they cannot adhere to this simplest principle.
The third point is when selecting K-line, we buy on the daily line when a bearish candle is formed. When a bullish candle is formed, we sell.
The fourth, the decline is slowing, the rebound is also slow, and the decline accelerates the rebound.