In the first few years of trading cryptocurrencies, I, like many others, stayed up late every day, chasing rises and falls, and ended up losing sleep. Later, I gritted my teeth and stuck to a simple method, surprisingly managing to survive and even starting to profit slowly.
Looking back now, this method, while simple, is really effective: 'If the signals I know don’t appear, I absolutely won’t take action!' It’s better to miss a market opportunity than to place random orders. Thanks to this strict rule, I can now stabilize my annual return rate at over 50%, and I no longer have to rely on luck to get by.
Here are a few life-saving tips for beginners, these are experiences I gained from real trading losses:
1. Trade after 9 PM. During the day, information is too mixed, and market fluctuations are large, making it easy to fall into traps. I usually wait until after 9 PM to trade; by then, news is generally stable, and candlestick patterns are clearer.
2. Withdraw money immediately after making a profit; don’t always think about doubling it! For example, if you make 1000U today, I suggest you withdraw 300U to your bank card immediately, and reinvest the rest. I've seen too many people who 'made three times but wanted five times', only to lose everything in one pullback.
3. Look at indicators, don't rely on feelings. Don't make trades based on gut feelings; that's just blind gambling. Install TradingView on your phone, and check these indicators before trading: Does MACD show a golden cross or a dead cross? Is RSI showing overbought or oversold? Are Bollinger Bands narrowing or breaking? Only consider entering the market if at least two indicators give consistent signals.
4. Be flexible with stop-losses. When you have time to monitor the market and are making money, manually adjust the stop-loss price upwards. For example, if the purchase price is 1000 and it rises to 1100, raise the stop-loss to 1050 to secure profit. If you cannot monitor the market, set a hard stop-loss of 3% to prevent sudden crashes.
5. Withdrawal must be made every week; not withdrawing money is just a numbers game! I transfer 30% of my profits to my bank card every Friday, and continue to reinvest the rest. Over time, this will lead to an increase in account funds.
6. There are tricks to reading candlestick charts. When doing short-term trading, look at the 1-hour chart: if the price has two consecutive bullish candles, consider going long. If the market is stagnant, switch to the 4-hour chart to find support lines: only consider entering near the support level.
7. Never fall into these traps. Don’t use leverage exceeding 10 times; beginners should ideally keep it under 5 times. Avoid meme coins like Dogecoin and Shitcoin; they are easy to get wrecked by. Limit yourself to a maximum of 3 trades per day; too many can lead to losing control. Absolutely do not borrow money to trade cryptocurrencies!
Here’s the last piece of advice for you: trading cryptocurrencies is not gambling. Treat it like a job; clock in and out at regular times, shut down your computer when it's time, and eat and sleep when you should. You will find that you actually make money more steadily.#加拿大推出SolanaETF $PEPE $DOGE $SHIB