After 8 years of trading cryptocurrencies, from losing sleep over losses to now stable profits,
it all relies on sticking to a simple method:
I resolutely do not trade if the market does not show familiar signals,
I would rather miss out than make random trades.
With this principle, I can now maintain an annual return rate of over 50%.
A few life-saving tips for beginners: #Binance Alpha New
Make trades after 9 PM: During the day, various false messages fly around,
prices jump up and down like they have a mind of their own, in the evening the market trends are cleaner,
making it easier to see the direction. Cash out quickly after making money:
For example, if you make 1000 USD, first withdraw 300 USD to your bank card,
then continue playing with the rest, don’t always think about doubling it,
I have seen too many people who fail to cash out their profits and end up losing everything.
Look at indicators, not feelings: Install TradingView on your phone,
before trading, check if there are MACD golden crosses and dead crosses, and whether RSI is overbought or oversold,
at least two signals should be consistent before taking action.
Be flexible with stop-loss: When you can monitor the market,
if you make money, manually move the stop-loss price up (for example, from 1000 to 1100)
don’t let the system automatically stop-loss. But if you have to go out
set a hard stop-loss of 3% to guard against sudden market crashes.
Withdraw funds weekly: No matter how much money you make, if you don’t cash out it’s just a number!
I transfer 30% of my profits to my bank card every Friday without fail, and only then do I continue to roll the rest.
There are tricks to reading candlestick charts: For short-term trading, focus on the 1-hour chart,
if the price pushes up for two consecutive hours, go long; if it’s stagnant,
switch to the 4-hour chart to find support levels, and enter the market when it approaches the support line.
Be careful of these pitfalls: #US Tariff Increase
Leverage should not exceed 10 times (beginners are advised to stay within 5 times)
Avoid coins like Dogecoin and other altcoins, do a maximum of 3 trades a day,
going long can easily lead to reckless behavior, definitely do not borrow money to trade cryptocurrencies!
Remember: Trading cryptocurrencies is not gambling, treat each day like a job, clock in at the right time and shut down,
eat when it’s time and sleep when it’s time, the money will come more steadily.
If you are confused about the market, follow me.
The cryptocurrency market is full of uncertainty and challenges, but it also contains potential opportunities. Investors should fully understand the risks involved when participating in cryptocurrency investments, remain calm and rational, and respond to market changes with a sound strategy!