Here are some life-saving tips for beginners, all based on my real trading losses: #加密货币总市值重回3万亿
If it helps even one person, that's great! Please like and save this to avoid losing it later.
1. Make trades after 9 PM
During the day, the news is too chaotic, with various false positives and negatives flying around, causing the market to jump around erratically, making it easy to get tricked into entering. I generally wait until after 9 PM to make trades when the news is mostly stable, and the candlestick chart is cleaner, providing a clearer direction.
2. Take profits immediately
Stop thinking about doubling your money! For example, if you made 1000U today, I suggest you withdraw 300U to your bank account immediately, and continue trading with the rest. I've seen too many people who made three times their investment but then lost it all during a pullback.
3. Look at indicators, not feelings
Don't trade based on feelings; that's just guesswork. Install TradingView on your phone and check these indicators before trading:
• MACD: Is there a golden cross or death cross?
• RSI: Is it overbought or oversold?
• Bollinger Bands: Is there a squeeze or a breakout?
Only consider entering if at least two of the three indicators give a consistent signal.
4. Be flexible with stop-losses
When you have time to watch the market, if you're in profit, manually move your stop-loss up. For example, if your buy price is 1000 and it rises to 1100, raise your stop-loss to 1050 to secure your profits. However, if you need to leave and can't monitor the market, set a hard stop-loss of 3% to prevent being wiped out by sudden drops.
5. Withdraw profits weekly
Not withdrawing profits is just a numbers game! Every Friday without fail, I transfer 30% of my profits to my bank account and continue trading with the rest. Over time, this will make your account grow thicker.
6. There are tips for reading candlesticks
• For short-term trading, look at the 1-hour chart: if there are two consecutive bullish candles, consider going long.
• If the market is stagnant, switch to the 4-hour chart to find support lines: consider entering when the price approaches the support level.
7. Avoid these traps!
• Don't use leverage exceeding 50x
• Avoid dog coins and meme coins; they are easy to get wrecked
• 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
One last thing for you:
Trading cryptocurrencies is not gambling; treat it like a job, clock in and out at set times, and make sure to eat and sleep properly. You will find that—trading becomes more stable and profitable.