Treat trading crypto as a job; clock in and out on time.
In the early years of trading crypto, I was like many others, staying up late watching the market, chasing highs and cutting losses, losing sleep over it. Later, I stubbornly stuck to one simple method, and surprisingly, I survived and slowly began to profit steadily.
Looking back now, this method, albeit simple, was effective: 'If I don't see familiar signals, I absolutely won't act!'
Better to miss out on opportunities than to place random trades.
With this iron rule, my annual return can now stabilize above 50%, and I no longer have to rely on luck.
Here are a few life-saving tips for beginners, based on my real trading losses:
1. Trade only after 9 PM.
During the day, the news is too chaotic, with all sorts of false positives and negatives flying around, making the market jump around like a fit. It's easy to get tricked into entering.
I usually wait until after 9 PM to operate; by then, the news is relatively stable, and the candlesticks are cleaner, with clearer direction.
2. Make money and secure it immediately.
Don't always think about doubling! For example, if you earned 1000U today, I suggest you withdraw 300U to your bank account immediately and continue playing with the rest.
I've seen too many people who earned three times but wanted five times, and ended up losing everything on a pullback.
3. Look at indicators, not feelings.
Don't make trades based on feelings; that's just a guess.
Install TradingView on your phone and check these indicators before trading: · MACD: Is there a golden cross or death cross · RSI: Is it overbought or oversold?
· Bollinger Bands: Is there a squeeze or breakout?
At least two of the three indicators must give consistent signals before considering entering the market.
4. Be flexible with stop-losses.
If you can monitor the market, move the stop-loss price up manually when you're in profit, such as if your buy price is 1000 and it rises to 1100, move the stop-loss to 1050 to secure profit.
But if you have to go out and can't monitor the market, set a hard stop-loss at 3% to prevent a sudden crash from wiping you out.
5. You must withdraw money every week.
Unwithdrawn money is just a number game!
Every Friday, without fail, I transfer 30% of my profits to my bank account and continue rolling the rest. Over time, this will lead to a thicker account.
6. There are tricks to reading candlesticks.
· For short trades, look at the 1-hour chart: If there are two consecutive bullish candles, consider going long.
· If the market is moving sideways, switch to the 4-hour chart to find support lines: Consider entering when it approaches the support level.
7. Never step into these pitfalls.
· Don't use leverage over 10x; new traders should ideally keep it under 5x. · Avoid coins like Dogecoin and Shitcoins; they are easy to get wrecked. Limit yourself to a maximum of 3 trades a day; too many can lead to loss of control. · Absolutely do not borrow money to trade crypto!
Trading crypto is not gambling. Treat it like a job: clock in and out at regular hours, turn off the machine when it's time, eat when it's time, and sleep when it's time. You'll find that you can earn more steadily, and the path to 10 million becomes clearer.
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