Treating cryptocurrency trading as a profession guarantees profits: 6 practical experiences to avoid pitfalls
When I first entered the market, I stayed up late watching charts, chasing highs and cutting losses, experiencing the anxiety of liquidation; later, I changed my mindset —— treating cryptocurrency trading as a job, operating on time, executing according to plan, and discovering these experiences:
Start after 9 PM: During the day, information is chaotic, and trends are erratic. After 9 PM, market sentiment has digested, and the candlestick charts become clearer.
Take profits when they are good: If you earn 1000U, first secure 300U; don't be greedy for "three times to five times" to avoid a pullback wiping out your gains.
Rely on indicators, not intuition: Use TradingView to monitor MACD (golden cross / death cross), RSI (overbought / oversold), Bollinger Bands (contraction / breakout), and place orders only when at least two indicators align.
Dynamically adjust stop-loss: When monitoring the market, if the price rises, adjust the stop-loss upwards (e.g., buy at 1000, rise to 1100, raise stop-loss to 1050); if not monitoring, set a hard stop-loss of 3% to prevent a waterfall decline.
Plan for withdrawals: Withdraw 30%-50% of profits to a bank account; the numbers on the exchange do not count as real money.
K-line analysis techniques: For short-term trades, look at the 1-hour chart (watch for two bullish candles to focus on long positions); for fluctuations, look at the 4-hour chart (enter near support).
Pitfalls to avoid: Do not use high leverage with full positions, avoid obscure coins, limit to a maximum of 3 trades per day, and do not borrow money to trade cryptocurrencies.
Trading cryptocurrencies relies on discipline and execution; as a profession, operate according to plan daily and rest after finishing. Persistence leads to more stable returns.
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