There is a seemingly clumsy method for trading cryptocurrencies, but this method can almost devour all profits and requires gradual learning. First, never do three things when trading cryptocurrencies.
1. Never buy when prices are rising#
Be greedy when others are fearful, and be fearful when others are greedy; learn to buy when prices are falling and make it a habit.
2. Never place large orders#
3. Never go all in#
Going all in makes you very passive; the market never lacks opportunities, and the opportunity cost of going all in is extremely high.
Six rules for short-term cryptocurrency trading#
1. After a period of consolidation at high prices, there is usually a new high; after consolidation at low prices, there is usually a new low. Therefore, wait for the direction of the market change to become clear before acting.#
2. Do not trade during sideways movement#
Most people lose money trading cryptocurrencies because they cannot do this.
3. When selecting candlesticks, buy on a bearish close and sell on a bullish close.#
4. When the decline slows, the rebound is also slow; when the decline accelerates, the rebound occurs.#
5. Use the pyramid buying method to build positions; this is an unchanging truth of value investing.#
6. When a cryptocurrency continues to rise or fall, it must enter a consolidation phase. At this time, there is no need to sell all at high prices or buy all at low prices. After consolidation, there must be a market change; if it changes downwards from a high position, you need to clear your positions in time.#
🔥 Solutions for accessing the OKX exchange in China#
Many exchanges' original domain names may be blacklisted, or access speeds may be affected due to servers being located overseas. For ordinary users, this situation often feels overwhelming, leading to doubts about whether the exchange itself has issues. In fact, this is more due to the network environment rather than a service interruption on the platform itself. To cope with this situation, exchanges like OKX and Binance usually update their backup domain names regularly to ensure users can continue to access the official website through alternative addresses.
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- OKX backup domain Overseas OKX - requires VPN or alternative link
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- Binance backup domain Binance
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- Bitget backup domain Bitget
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- Bybit backup domain Bybit/Bybitglobal
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- Huobi HTX backup domain Huobi (Huobi/HTX)
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- Gate backup domain Gate.io (Gate)
🔥 Related reading#
🔥 Practical tools for finding alpha#
1️⃣ Axiom trading tool https://axiom.trade
2️⃣ Gmgn trading tool https://gmgn.ai
3️⃣ dbot trading tool https://app.debot.ai
4️⃣ Morelogin multi-account fingerprint browser www.morelogin.com
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