After years of trading in cryptocurrencies, I have gone from losing money to losing sleep to making stable profits now.
All thanks to a stupid trick:
I will not move unless the market shows a signal I am familiar with.
I would rather miss it than make a random order.
With this, my annual return rate is now stable at more than 50%.
A few life-saving suggestions for novices:
Place orders after 9 pm: During the day, all kinds of false news are flying around,
The price jumps up and down like a twitch, and the market trend is cleaner at night,
It is easy to see the direction. Put the money in your pocket as soon as you make it:
For example, if you make 1,000U, withdraw 300U to your bank card first,
Continue to play with the rest, don't always think about doubling it,
I have seen too many people who make money but don't stop, and finally lose it.
Look at the indicators, not the feelings: Install TradingView on your phone,
Before placing an order, check whether the MACD golden cross or dead cross and whether the RSI is overbought or oversold,
At least two of the three indicators are consistent before making a move.
Stop loss should be flexible: when you have time to watch the market,
When you make money, manually move the stop loss price up (for example, from 1000 to 1100)
Don't let the system stop loss automatically. But if you go out to do something
You must set a 3% hard stop loss to prevent the dealer from suddenly smashing the market.
You must withdraw money every week: no matter how much money you make, it's just numbers if you don't withdraw it!
I transfer 30% of the profit to my bank card every Friday without fail, and the rest of the money will continue to roll.
There are tricks to watching K-line: focus on the 1-hour chart for short-term trading,
If the price rushes up for two consecutive hours, go long; if it goes sideways,
Switch to the 4-hour chart to find the support level, and enter the market when it falls near the support line.
Don't step on these pitfalls:
The leverage should not exceed 10 times (newbies are recommended to be within 5 times)
Don't touch Dogecoin, shitcoin and other copycat contracts, and you can only do 3 orders a day,
If you do too much, you will get carried away, so don't borrow money to trade in coins!
Remember: Cryptocurrency trading is not gambling. Treat every day as work, clock in and turn off the computer at a certain time.
Eat when you should eat and sleep when you should sleep, and the money will come more steadily.
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