Here are a few life-saving tips for beginners, based on my real trading losses:

If it helps even one person, it’s worth it! I suggest liking and saving this so you can find it later. #Binance

During the day, the market is filled with mixed messages, inundated with various false positives and negatives, making the trends as elusive as a runaway wild horse. A small misstep can lead to traps. Therefore, I prefer to trade after 9 PM when the market tends to calm down, and the candlestick chart becomes clearer, with trends being more apparent.

Lock in profits timely, safety is paramount

Do not be greedy and try to swallow an elephant with a snake! If you’ve made a profit of 1000U today, I strongly recommend withdrawing 300U to your bank account immediately, and making plans for the remaining amount. I have seen too many cases where greed led to nothing, as a small pullback can turn previous profits into nothing.

Rational analysis, refuse to act blindly

Trading should never be based on feelings; that is akin to a blind person trying to feel an elephant. It would be wise to install TradingView on your phone and carefully examine the following indicators before trading:

- MACD: Observe if a golden cross or death cross appears

- RSI: Assess if there are signs of overbought or oversold conditions

- Bollinger Bands: Pay attention to whether they are contracting or breaking out

Only consider entering the market when at least two indicators give a consistent signal.

Flexible stop-loss, move in and out freely

If you have time to watch the market, after making a profit, consider manually adjusting the stop-loss price. For example, if your buying price is 1000 and the price rises to 1100, you may raise the stop-loss to 1050 to ensure profit safety. However, if you are about to leave and cannot monitor the market, be sure to set a hard stop-loss of 3% to guard against unforeseen events that could lead to total loss.

Regular withdrawals, steady growth

Funds not withdrawn are just a numbers game! I insist on transferring 30% of the profits to my bank account every Friday, while the remaining amount continues to be reinvested. Over time, your account will grow richer.

Candlestick analysis, skills at hand

- For short-term trading, focus on the 1-hour chart: If two consecutive bullish candles appear, consider going long.

- If the market is stuck, switch to the 4-hour chart to find support lines: When the price approaches support levels, then consider entering.

Avoid traps, move forward steadily

- Do not use leverage exceeding 50x

- Stay away from dog coins, shit coins, and other altcoins to avoid being cut down

- Limit daily trades to no more than 3 to prevent overtrading and losing control

- Never borrow money to trade cryptocurrencies to avoid falling into an irretrievable situation.