There is a seemingly simple method for trading cryptocurrencies, but this method can capture almost all profits and requires gradual learning. First, never do three things when trading cryptocurrencies.
1. Never buy when the price is rising#
One should 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 is very passive; the market is not short of opportunities, and the opportunity cost of going all in is very high.
Six rules for short-term cryptocurrency trading#
1. After the price consolidates at a high level, there is usually a new high; after consolidating at a low level, there is usually a new low. Therefore, one should wait for the direction of the trend to become clear before acting.#
2. Do not trade during sideways movement#
Most people lose money in cryptocurrency trading because they cannot do this.
3. When choosing candlesticks, buy when a bearish candle closes and sell when a bullish candle closes.#
4. When the decline slows down, the rebound is also slow; when the decline accelerates, the rebound is also fast.#
5. Use a pyramid buying method to build positions; this is the only unchanging strategy for value investing.#
6. When a cryptocurrency continues to rise or fall, it will inevitably enter a sideways state. At this time, there is no need to sell all at a high position or buy all at a low position. Because after consolidation, a trend change is inevitable; if it changes downward from a high position, one should clear their position in time.#
🔥 Solving the issue of accessing the OKX exchange in China#
Many exchanges' original domain names may be restricted, or access may be slow due to overseas servers. Ordinary users may feel confused and even suspect that the exchange is down. In fact, this is often a network environment issue rather than a platform service interruption. To address this, exchanges like OKX and Binance regularly update their backup domain names to ensure users can 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/HTX
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- Gate.io backup domain Gate.io
🔥 Related reading#
🔥 Useful 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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