Treat trading cryptocurrencies like a job, clock in and out on time every day, and make stable profits without relying on luck!
In the first few years of trading cryptocurrencies, I was just like everyone else, staying up late watching the market, chasing highs and selling lows, losing sleep over it.
Every time I saw the market jumping around, I felt anxious and my mindset collapsed.
Later, I decided to change my approach, tried a seemingly foolish method, and unexpectedly managed to survive slowly and even started making stable profits.
My method is:
If I don't see the signals I'm familiar with, I absolutely won't act.
I'd rather miss out on opportunities than make random trades.
This iron rule gradually made me understand—the key to success is to maintain a stable mindset and patiently wait for signals.
Now I make over 50% profit every year and no longer rely on luck.
Here are some life-saving tips for beginners; these are experiences I've gained from real trading losses:
Make trades only after 9 PM.
During the day, the news is too chaotic, with all kinds of false positives and negatives flying around, making it easy to get tricked into trades.
Generally, I wait until after 9 PM to make moves. At that time, the market tends to stabilize, and the K-lines are cleaner with clearer directions.
Take profits when you can.
Don't always think about doubling your money!
I've seen too many people who made three times their investment but then aimed for five times, only to lose everything on a single pullback.
Look at indicators, don't rely on feelings.
Don't trade based on feelings; that's purely blind gambling.
Install TradingView on your phone, and before making trades, check these indicators: MACD, RSI, Bollinger Bands; only consider entering if at least two indicators provide consistent signals.
Stop-loss must be flexible.
If you can monitor the market, when it goes up, manually raise the stop-loss price to secure profits.
But if you can't monitor the market, definitely set a hard stop-loss of 3% to prevent sudden large drops from wiping you out.
You must withdraw profits weekly.
Profits that aren't withdrawn are just a numbers game.
Every Friday, I transfer 30% of my profits to my bank account, and the rest continues to grow in the trading account.
Over time, this way, your account will keep getting thicker.
There are tricks to reading K-lines.
For short-term trading, look at the 1-hour chart: two bullish candles can indicate a good time to go long.
When the market is sideways, switch to the 4-hour chart to find support levels and enter when it drops near support.
Be sure not to fall into these traps:
Don’t leverage more than 10 times; beginners should ideally keep it under 5 times.
Avoid those meme coins like Dogecoin and Shitcoin; they are easy to get cropped.
Make a maximum of 3 trades a day; too many can lead to losing control.
Absolutely do not borrow money to trade cryptocurrencies.
Trading cryptocurrencies is not gambling; treat it like a job, clock in and out daily, shut down at the end of the day, and focus on your own matters.