Here are a few life-saving suggestions for newcomers, all based on real trading losses:
Do not place trades after 9 PM. During the day, information is chaotic, there are many false messages, and market fluctuations make it easy to be misled. After 9 PM, information stabilizes, and the K-line is clearer and direction more defined.
Take profits immediately. Don’t always think about doubling your money; for example, if you earn 1000U, it is advisable to withdraw 300U to your bank account immediately and continue trading with the remaining amount.
Many people are greedy and end up giving back their gains during pullbacks. Look at indicators, not feelings.
Use TradingView to check MACD (golden cross / death cross), RSI (overbought / oversold), and Bollinger Bands (squeeze / breakout). Only enter the market when at least two signals agree.
Be flexible with stop-losses. While monitoring the market, if you are in profit, adjust your stop-loss price upward (for example, if you buy at 1000 and it rises to 1100, raise the stop-loss to 1050); if you cannot monitor the market, set a hard stop-loss of 3% to guard against sudden crashes. Withdraw funds weekly. Transfer 30% of profits to your bank account every Friday, and roll over the rest; a long-term account will be thicker. There are tips for reading K-lines. For short-term trading, look at the 1-hour chart; if there are two consecutive bullish candles, consider going long; if the market is consolidating, switch to the 4-hour chart to find support levels and enter when the price falls nearby. Avoid pitfalls: do not use leverage over 10 times, and for newcomers, keep it within 5 times; avoid coins like Dogecoin and other altcoins that are easy to get wrecked.
Trading cryptocurrencies is not gambling; treat it like a job with set working hours, turn off when you need to, and make sure to eat and sleep properly, as this approach can lead to more stable profits.
If anyone feels lost due to market fluctuations and doesn’t know how to handle being stuck, or feels overwhelmed during trading, and wants to seize this bull market, learning on the fly will definitely be too late; it’s best to find someone to guide you for a quick start.
