Having been in the crypto space for these years, I've experienced the despair of liquidation and the joy of doubling my assets. Today, I share the lessons learned from real losses without reservation.
I hope to share this with everyone, hoping it can help someone! It’s advised to like and save this to avoid losing it later~
1. Choose the right trading time, avoid daytime 'danger zones'
The daytime crypto market is like a 'battle of information'! Fake good and bad news flood in, prices swing wildly, and if you're not careful, you may be misled.
Go long or short.
Advice: Avoid the 'chaos' of daytime trading; wait until after 9 PM to act. By then, market news has mostly settled, and K-line patterns are clearer for directional judgment.
Also more accurate, equivalent to adding a 'safety lock' for yourself.
2. Secure profits, don't let them 'fly away'
'Wanting to earn more after making a profit' is the root cause of many people losing money! Stop fantasizing about doubling; timely locking in profits is the key.
Operational method: For example, if you make a profit of 1000U in a day, immediately withdraw 300U to your bank card and continue trading with the rest. I've seen too many people earn 3
Want 5 times leverage, but end up losing everything after a single pullback; money in the wallet is the only real money!
3. Let indicators do the talking; refuse 'knee-jerk' decisions.
Trading based on gut feeling? That's no different from gambling!
Tool recommendation: Download TradingView and focus on these 3 indicators.
MACD: Bullish on golden crosses, bearish on death crosses.
RSI: Beware of pullbacks when overbought (>70), and watch for rebounds when oversold (<30).
Bollinger Bands: Narrowing indicates accumulation; break above the upper band indicates bullish sentiment, while break below the lower band indicates bearish sentiment.
Principle: At least 2 indicator signals must align before considering entry to lower the probability of mistakes!
4. Stop-loss should be 'flexible'; protecting your principal is the bottom line.
When monitoring the market: Flexibly adjust the stop-loss price. For example, if you buy at 1000U and it rises to 1100U, immediately raise the stop-loss to 1050U to lock in 50U profit;
When unable to monitor the market: Set a 3% hard stop-loss! Prevent sudden crashes from wiping everything out; as long as your principal is intact, there’s a chance to recover.
5. Withdraw profits every week, refuse to play the numbers game.
Money in the account that isn't withdrawn is just a string of numbers!
My habit: Withdraw 30% of profits to my bank card every Friday, and continue rolling with the rest. Long-term persistence leads to steady growth in both wallet and account.
Growth, and the psychological pressure will be much lower~
6. K-line usage guide, find the right entry timing.
Short-term trading: Keep a close eye on the 1-hour chart; if there are two consecutive bullish candles, consider going long.
Volatile market: Switch to the 4-hour chart, enter the market when the price drops near the support level; bottom fishing is safer!
7. Avoid these pitfalls at all costs!
▲ Leverage: Don't exceed 50x, the higher the risk, the greater the danger;
Cryptocurrencies: Stay away from Dogecoin, Shitcoins, and other altcoins; the operators will harvest without mercy.
▲ Frequency: Make at most 3 trades a day; frequent trading can easily lead to impulsiveness.
▲ Capital: Absolutely do not borrow money to trade cryptocurrencies; don't touch money you can't afford to lose!
Opportunities are here, assets can double! Follow Brother Li, easily make big money.
Keep an eye on: RPL, SPELL.
