Some advice for newcomers in the cryptocurrency world:
1. Do not trade during the day; it's better to trade at night. First, being restless during the day affects trading; second, it's difficult to see the situation clearly.
2. Do not chase trades after making a profit; take your profits. Never think that after making a profit on one trade, you can make a profit on a second trade, as this can easily lead to losses.
3. Going long is beneficial for going short; do not short unless absolutely necessary.
4. If you have time to monitor the market, do not set stop losses or take profits. This is to prevent slight fluctuations from triggering stop-loss prices, which can lead to forced liquidation and affect greater profits. If you don't have time to watch, you must set them to avoid significant losses, even going to zero due to spikes.
5. The purpose of trading is to withdraw profits. After making a profit, regularly transfer part of it to your fund account or withdraw it. Human desire is endless; after making a profit, you want to make even more, which leads to reinvesting everything back into the market, resulting in total losses (from my personal experience). Additionally, if you experience consecutive losses, do not recharge your funds; maintain your mindset.
6. For short-term trading, look at the 1-hour candlestick chart. If there’s a second-tier rise, go long; if there’s a second-tier fall, go short. When faced with sideways movement, if you can't clearly judge the future trend, look at the 4-hour and 1-day candlestick charts to decide whether to go long or short. Also, set take profit and stop loss levels accordingly.
7. Do not put all your eggs in one basket; try to diversify your funds and trade in multiple positions and directions.
