Treat trading as a job, only then can you truly make money
Stop fantasizing about getting rich overnight. It took me years of trading to understand that those who consistently profit have long treated trading as a 'job'—not relying on luck or impulse, but on discipline and strategy.
Here are the life-saving rules I summarized from my losses👇
— Don't make a move after 9 PM
During the day, there are many news updates and erratic fluctuations, making emotions run high. I now basically wait until the news settles in the evening before making a move; the success rate is much higher.
— Take profits, don't fantasize about doubling
Made 1000U? I immediately withdraw 300U to my card, and continue operating with the rest. Profits that aren't taken are just numbers.
— Look at signals, not feelings
Feelings are all illusions. Before placing an order, look at the indicators: MACD golden cross? RSI overbought/oversold? Bollinger Bands breakout? At least two out of three signals should align before considering entry.
— Be flexible with stop losses and take profits, don't stubbornly hold on
If it goes up, push the stop loss; set a 3% automatic stop loss when you go out, don't expect the market to wait for you. Stop loss is the bottom line for survival, not a punishment for failure.
— How to read the chart?
For short-term trading, look at the 1-hour chart; two consecutive bullish candles indicate an entry signal. Is it consolidating? Switch to the 4-hour chart to check if it has reached a support level before deciding to enter.
— Avoid these three major pitfalls:
Don't over-leverage, don't use high leverage; stay away from unfamiliar altcoins; limit yourself to no more than 3 trades a day, don’t get carried away. Never borrow money to trade cryptocurrencies!
Stop relying on quick riches. Treat trading as a job, follow the rhythm, and stick to the plan; only then can you truly benefit from this market cycle.
Stay close to Uncle Nan, plan ahead, only eat appetizers, and leave no leftovers.
