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Hands-on experience: Key tips on how to trade altcoins
Author: Ardizor, encryption researcher
Compilation: Felix, PANews
Encryption researcher Ardizor grew his assets from $4,700 to $2.1 million in one year, and it wasn't achieved through BTC, ETH, MATIC, AVAX, or MODE. This article aims to share its tips on how to trade altcoins.
Alt trading eliminates the need to develop complex strategies and trade accordingly. For example, a trading strategy relies solely on the following key factors:
Understanding the psychology of the encryption market is the most important
In the world of encryption, emotions drive everything. Human psychology is constant, and the market model is always repeated.
Here's a rough visualization of the market's psychological patterns:
"The best time to buy is when the market is bleeding"
While long people are aware of this, when fear dominates the market, people tend to sell and only buy back when greed reigns. This simple rule has the potential to generate huge profits.
Recognize this pattern and swim against the current.
Fear/Greed Index:
Learn about insider trading
Here's a recent example: A Wallet was purchased for $1,500 immediately after HAMMY launch, and then closed all positions for $177,000.
Why can you be sure that this is an insider's Wallet and not a random trader?
Think about it: why this person was able to buy before an unexpected big pump, when there was no favourable information about the project in the market at all.
The answer, of course, is inside information.
How to find these hidden internal Wallets?
*Access:
"How can I discover Promising Crypto before anyone else?"
Where to view tokenomics
Visit Token Unlocks or VestLab to see the highlights:
Finally, it is crucial to verify the security of the Token contract. This habit will protect you from potential scams, rugs, and honeypots. The following two commonly used validators may be useful:
Related reading: Knowing how to sell is the master, at a glance at the ultimate strategy of how to sell at a high point