9 Powerful Mantras for Effective Electronic Money Transactions: A Guide for Beginners

The cryptocurrency market is volatile and often unpredictable, but there is a disciplined strategy that can help traders navigate its fluctuations. Here are nine essential trading mantras distilled from the wisdom of experienced traders. By understanding and applying these principles, you can avoid common pitfalls and optimize your trading performance.

1. Buy low, sell high: Timing is everything Mantra: Buy horizontally and buy vertically, not vertically. The selling point is at the boiling point. When entering a position, focus on buying when the price is consolidating (moving sideways) or after a significant decline. Avoid chasing strong upward trends, as these trends often precede corrections. Sell when the price reaches a "boiling point", when momentum begins to weaken or resistance appears.
2. Small profits are reliable; Profits that grow exponentially signal caution Mantra: Continuous small gains are real gains, and consistently large gains require exiting the market. Sustainable price growth is often a sign of a healthy market activity. On the other hand, rapid and widespread growth may not be sustainable and may indicate a speculative bubble. Such scenarios often lead to significant corrections, making it wise to exit the market early.
3. Pullbacks and Pit are buying opportunities Mantra: A strong increase requires a retreat, and no deep hole requires a large purchase. After a significant rally, the price often experiences a retracement as traders lock in profits. Likewise, when price forms a notable "pit" or low, it can signal a buying opportunity—especially when the drop is not warranted by fundamentals.
4. Adjust Your Sales Strategy According to Market Behavior Mantra: The main increase must reach the peak, the sharp decrease must be sold quickly, the slow increase must be sold slowly. Market conditions determine the selling strategy. In a sharp decline, act quickly to limit losses. For a slower increase, you can apply a more calculated approach, gradually expanding positions to maximize profits while minimizing risks.
5. Volume speaks volumes Mantra: A sharp decline without volume is a threat, and a slow decline with large volume must be quickly withdrawn. Price movements without corresponding volumes can be misleading. A sharp drop without significant trading volume usually signals temporary fear or market manipulation. Conversely, a slow fall with high volume may indicate real selling pressure, necessitating a quick exit.
6. Respect the lifeline: Decisive action Mantra: If the price breaks the lifeline, don't hesitate to create waves. "Lifeline" often refers to the main support level or moving average. If the price breaks below this line, it is usually a sign of further decline. Do not hesitate to adjust your strategy—whether it is cutting losses or taking advantage of volatility.
7. Track daily and monthly trends Mantra: Carefully consider the daily and monthly routes, and track the main force to build the position. Traders should focus on both short-term (daily) and long-term (monthly) price trends to identify opportunities. Align your trades with broader market trends and monitor signals from institutional activity or "smart money" positions.
8. Be cautious of price increases with low volume Mantra: If the price rises without volume, the main force will attract more, so don't stand still. Price increases without a corresponding increase in trading volume usually indicate market manipulation. Avoid buying when prices are rising as they can quickly reverse when traders realize the lack of support.
9. Identify the bottom and recovery Mantra: A new low with decreasing trading volume is a bottoming pattern, and increasing recovery requires action. When prices hit new lows with reduced trading volume, this usually signals that selling pressure is subsiding, indicating a potential bottom. Likewise, when trading volumes increase during the recovery, this could indicate the beginning of a sustainable recovery—the ideal time to enter. Final thought: Simplicity is the key The cryptocurrency market has grown rapidly due to its unpredictable nature, but efficient trading doesn't necessarily have to be complex. These mantras provide simple yet powerful insights to guide your decisions. By cultivating discipline, analyzing market trends, and understanding the importance of price and volume, you can improve the chances of success and avoid unnecessary deviations.