In these years of trading cryptocurrencies, I have paid enough tuition. In the beginning, I stayed up all night watching the market, like I was on adrenaline, but ended up not making money and losing a lot of hair. Later, I figured out a simple method that unexpectedly helped me survive in this market.
I now adhere to a strict principle: I will not touch markets I don't understand! I'd rather miss out than make a mistake. With this simple method, I can steadily earn over 50% annually, finally not having to live in constant fear.
Here are a few heartfelt suggestions for friends just entering the industry; these are lessons I learned with real money:
Start working again after 9 PM
The daytime market is like a fit of madness, with news coming in one after another, making it hard to tell what's true or false. I wait until after 9 PM when the market calms down and the K-lines stabilize before taking action. Trading at this time greatly increases the win rate.
Knowing when to take profit is key
Don't always think about catching the whole fish! For instance, if I made 1000 U today, I'd advise you to first withdraw 300 U to your bank card. I've seen too many greedy people who want to earn more after making some money, only to give it all back with one pullback.
Indicators have the final say; if you feel unsure, take a step back
Before making a trade, open TradingView and check these indicators:
MACD golden cross and death cross must be clear; pay attention to RSI overbought and oversold; watch for Bollinger Band squeeze breakouts closely.
At least two out of three indicators must give consistent signals before considering entry.
Stop-loss should be flexible
While monitoring the market, if you make money, move the stop-loss up. For example, if you bought at 1000 and it rises to 1100, raise the stop-loss to 1050. If you can't monitor while out, set a hard stop-loss at 3% to avoid regretting it after a liquidation.
Must withdraw funds every week
Every Friday, without exception, I withdraw 30% of my profits. If the money isn't in my bank account, it's just a numbers game!
There are ways to read 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 sideways, switch to the 4-hour chart to find support levels, and consider entering when it approaches support.
These pits must not be stepped on
Leverage should not exceed 10 times; for beginners, it's best to stay within 5 times. Don't touch Dogecoin, shitcoins, or these altcoins; they are all for harvesting retail investors.
Finally, here's a piece of advice: trading cryptocurrencies is not gambling; treat it as serious work. Clock in and out on time, and when it's time to shut down, do so. Eat when it's time to eat and sleep when it's time to sleep. You will find that the money comes in more steadily.
I am the Great Sage, having struggled in the crypto space for these years, I have summarized these experiences. I hope they are useful for you and help you avoid detours. Remember, in this market, staying alive is more important than anything else!#加密市场回调 $ETH
