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Rule 1: Understand market sentiment, trading volume is key
- Increasing trading volume without a decline: If trading volume increases but the price does not decrease, this may be a signal to stop the decline.
- Increase trading volume without growth: The trading volume is increasing, but the price has not risen, which may indicate that a peak has been reached in the short term.
- Growth should be accompanied by stable trading volume: During periods of growth, trading volume must steadily increase; if it suddenly decreases or there is a spike in trading volume, the growth may come to an end.
- Key volume levels during a decline: If key levels are breached during a downtrend and accompanied by volume, the decline may continue.
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Rule 2: Key levels determine buying and selling
- Resistance levels, support levels, trend lines: Act quickly when the price reaches these levels!
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- Golden Ratio: I use it to predict support and resistance levels, and it is very effective.
Iron Rule Three: Observe the market in different time windows.
- 1-minute chart: Look for entry and exit opportunities.
- 3-minute line: Observe the fluctuations after entering.
- 30 minutes/1 hour: Determine changes in the daily trend.
Rule 4: Do not rush to make up after cutting losses.
- Stop Loss = Trade Ends: Every trade is a new beginning, don't let previous operations affect your emotions.
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Rule Five of Iron: Simple and Practical Position Management Method
- Three-part position:
1. The coin's price has exceeded the 5-day average, purchase the first part;
2. Break through the 15-day moving average, buy the second part;
3. Break through the 30-day moving average and buy one third.
- Strict loss limitation: Sell the first portion when the price falls below the 5-day moving average; sell the second portion when the price falls below the 15-day moving average; sell everything when the price falls below the 30-day moving average!
Rule Six: Sales must also be strategic.
- Break below the 5-day moving average at a high position: first sell a portion, then observe the subsequent trend.
- 15th and 30th moving average breakout: Without hesitation, sell everything!
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Rule 7: Increasing positions during growth/decline lag is a signal.
- Increasing positions when the price is not rising: If the price is not rising and positions are increasing, this could be a shorting opportunity.
- Increase positions under stagnant prices: When prices are not decreasing and positions are increasing, a rebound may be imminent.
Rule Eight: Focus on one type of coin
- Position Concentration: Use only one type of coin for a certain period of time, continuously tracking it until it no longer has speculative value.
Rule Nine: Opportunities always exist, do not rush to recover losses.
- The calm after stopping losses: Do not rush to open new trades to make up for losses; each trade is independent.
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Iron Rule Ten: Follow the rules, achieve stable profits
- Rules are more important than attitude: strictly adhere to trading rules and do not be influenced by emotions.
These ten iron rules! If you can follow these rules, making money in the cryptocurrency world will be as easy as breathing!
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