I treat trading cryptocurrencies as a job, and surprisingly, I've become more stable at it!
In the past, I was just like many others:
Staying up late watching the market, chasing gains and cutting losses, making trades based on feelings, and ending up losing sleep over my losses.
But in recent years, I started treating "trading cryptocurrencies" as a serious job, clocking in and out every day, and I unexpectedly became more stable; now my annualized returns can remain above 50%.
Here’s a summary of my "survival tactics"; I hope novices can avoid some pitfalls:
📌1. Make trades only after 9 PM
Daytime news is too chaotic and can easily lead to being misled by false information.
I generally wait until after 9 PM to make moves; by then, the news stabilizes, and the K-line direction is clearer.
📌2. Take profits immediately
Made $1000 today? Withdraw $300 to your bank account first, then continue trading with the rest.
Don't dream about doubling; I've seen too many people lose their principal due to greed during pullbacks.
📌3. Use indicators, don’t rely on feelings
Don’t guess the direction blindly! I rely on these 3 indicators to judge the market:
MACD Golden Cross/Death Cross
RSI Overbought/Oversold
Bollinger Bands Squeeze/Breakout
Only consider entering when at least two indicators align.
📌4. Set stop-loss orders flexibly
If you can monitor the market, set dynamic stop-losses that follow the price increase.
If you're too busy to watch, set a hard stop-loss at 3% to prevent a crash.
📌5. Withdraw profits every Friday
I steadfastly withdraw 30% of my profits to my bank account every week.
Trading cryptocurrencies isn't just a numbers game; securing the profits is the real win.
📌6. A little K-line trick
For short-term trades, look at the 1-hour chart; if there are two consecutive bullish candles, consider going long.
When the market is sideways, switch to the 4-hour chart to check support lines and enter when close to support.
📌7. Avoid these pitfalls!
Don’t use leverage over 10x; novices are advised to stay under 5x.
Avoid shitcoins and scams; they are easy to get wrecked by.
No more than 3 trades a day to avoid getting too emotional.
Absolutely do not borrow money to trade cryptocurrencies!!
✅ A final piece of advice for you:
Treat trading cryptocurrencies as a job, clock in and out on time, shut down, eat, and sleep.
With a stable mindset, you'll find that you earn more steadily.