Treat cryptocurrency trading as a job and go to get off work on time every day. In the first few years of cryptocurrency trading, I was like many people, staying up late every day to watch the market, chasing ups and downs, and losing money and couldn't sleep. Later, I gritted my teeth and insisted on using only a stupid method, and I actually survived and slowly began to make stable profits.
Looking back now, this method is stupid, but it works: "If there is no signal I am familiar with, I will resolutely not move!"
I would rather miss the market than place orders randomly.
With this iron rule, my annual income rate can now be stabilized at more than 50%, and I finally don't have to rely on luck to survive.
Here are some tips for beginners, all of which are my experience of losing money in real trading:
1. Do orders after 9 pm
There are too many news during the day, all kinds of false good news and false bad news are flying around, and the market is jumping up and down like a convulsion, which is easy to be deceived into entering the market.
I usually wait until after 9 pm to operate, when the news is basically stable, the K line is cleaner, and the direction is clearer.
2. Put the money in the bag immediately
Don't always think about doubling! For example, if you made 1000U today, I suggest you withdraw 300U to your bank card immediately, and continue to play with the rest.
I have seen too many people who "earned three times and wanted five times", but lost everything in a callback.
3. Look at indicators, not feelings
Don't make orders based on feelings, that's blind.
Install TradingView on your phone and look at these indicators before making orders:
• MACD: Is there a golden cross or a dead cross
• RSI: Is there overbought or oversold
• Bollinger Bands: Is there a narrowing or breakthrough
At least two of the three indicators give consistent signals before considering entering the market.
4. Stop loss must be flexible
When you have time to watch the market, manually move the stop loss price up when you make money. For example, if the purchase price is 1000 and it rises to 1100, raise the stop loss to 1050 to protect the profit.
But if you have to go out and can't watch the market, you must set a 3% hard stop loss to prevent sudden market crashes and be wiped out.
5. You must make a profit every week
The non-cash withdrawals are all digital games!
I transfer 30% of my profits to my bank card every Friday without fail, and continue to roll over the rest. In this way, your account will become thicker and thicker in the long run.
6. There are tricks to reading K-line
• For short-term trading, look at the 1-hour chart: if the price has two consecutive positive lines, you can consider going long.
