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1. First, stay calm and rational; do not blindly follow the trend or invest impulsively. Do thorough research and analysis.
2. It is advisable to trade at night, as daytime decisions may be affected, and the situation may not be clear enough.
3. Do not blindly trust false information and rumors, and do not believe in the myth of becoming rich overnight. Stay grounded and move forward steadily.
4. After making a profit, avoid blindly chasing orders and take profits in a timely manner. Do not be greedy thinking of making a second profit just because of one profitable trade, as it can easily lead to losses.
5. Going long is usually more advantageous than going short; unless absolutely necessary, try to avoid shorting.
6. If you have time to monitor the market, do not set stop-loss and take-profit orders to avoid triggering stop-loss due to slight fluctuations, which can lead to forced liquidation and greater losses. However, if you do not have time to watch the market, you must set them to prevent massive losses due to sudden market changes, even leading to capital depletion.
7. The purpose of trading is to make profits and withdraw them. After making profits, regularly transfer some funds to your capital account or withdraw. During consecutive losses, do not recharge; control your mindset well.
8. When engaging in short-term trading, you can refer to the one-hour candlestick chart. If the price shows a two-step upward trend, go long; if it shows a two-step downward trend, go short. When encountering sideways movement, if you cannot judge the future trend, you can check the four-hour and daily candlestick charts before deciding whether to go long or short. At the same time, make sure to set stop-loss and take-profit levels.
9. Do not invest all your funds in one trade; try to diversify your funds, trade multiple positions and directions to reduce overall risk. In summary, although the cryptocurrency world is full of opportunities, it also carries risks. Newcomers should act cautiously to go further in this field!
