Treat cryptocurrency trading like a job, clock in and out on time every day
In the early years of trading, I was like many others, staying up late to watch the market, chasing trends, and suffering losses that kept me awake at night. Later, I gritted my teeth and stuck to a simple method, surprisingly surviving and slowly starting to stabilize my profits.
Looking back now, this method, although simple, was effective: "If I don't see familiar signals, I absolutely do not act!"
I would rather miss opportunities than make random trades.
With this iron rule, I now maintain an annual return of over 50%, and I no longer have to rely on luck to survive.
Here are a few tips for beginners, all based on experiences I gained through real trading losses:
1. Make trades after 9 PM
During the day, the news is too chaotic, with all kinds of false positives and negatives flying around, causing the market to jump around erratically, making it easy to be tricked into entering.
I usually wait until after 9 PM to trade; by then, the news is basically stable, and the candlestick chart is cleaner, with clearer direction.
2. Take profits immediately
Don’t always think about doubling your money! For example, if you made a profit of 1000 U today, I suggest you immediately withdraw 300 U to your bank card and continue trading with the rest.
I’ve seen too many people who “made three times but want five times,” only to lose everything on a pullback.
3. Look at indicators, not feelings
Don’t trade based on feelings; that’s just blind luck.
Install TradingView on your phone and check these indicators before trading:
• MACD: Is there a golden cross or death cross?
• RSI: Is there overbought or oversold?
• Bollinger Bands: Is there a squeeze or breakout?
At least two out of the three indicators should give consistent signals before considering entry.
4. Stop-loss must be flexible
When you have time to monitor the market, if you’re up, manually move your stop-loss price up. For example, if the buying price is 1000 and it rises to 1100, raise the stop-loss to 1050 to secure profits.
But if you need to go out and can’t monitor the market, be sure to set a hard stop-loss at 3% to prevent sudden crashes.
5. Must withdraw profits weekly
Profits that aren’t withdrawn are just a numbers game!
Every Friday, without exception, I transfer 30% of profits to my bank card and continue to roll over the rest. Over time, this way, my account will keep growing.
6. There are tricks to reading candlesticks
• For short-term trading, look at the 1-hour chart: If the price shows two consecutive bullish candles, consider going long.