Six cryptocurrency trading tips to save yourself from a million-dollar loss! Must-read for beginners, recommended to save!
Choose the right trading time, avoid daytime "danger zones"
The cryptocurrency market during the day is like a battlefield of "information chaos"! False good and bad news flood in, prices fluctuate wildly, and if you're not careful, you might fall into traps.
Suggestion: Avoid the daytime "chaos" and make your moves after 9 PM. At this time, market news has mostly settled, the K-line patterns are clearer, and directional judgments are more accurate, essentially adding a layer of "security lock" for yourself.
Second, secure your profits and don’t let them "fly away"
"Wanting to earn more after making a profit" is the root cause of many people's losses! Stop fantasizing about doubling your money; locking in your profits in a timely manner is the key.
Operational method: For example, if you earn 1000U that day, immediately withdraw 300U to your bank card, and continue trading with the rest. I've seen too many people wanting to turn 3 times into 5 times, only to lose everything in a single correction; money in your wallet is the only real money!
Third, let the indicators speak, refuse to make decisions "on a whim"
Trading based on feelings? That’s no different from gambling!
Fourth, stop losses must be "flexible", protecting your principal is the bottom line
When watching the market: Flexibly adjust your stop-loss price. For instance, if you buy at 1000U and it rises to 1100U, immediately raise your stop-loss to 1050U to lock in 50U profit; if you can’t watch the market: set a hard stop-loss at 3%! This prevents sudden crashes from wiping you out; as long as your capital is intact, there’s still a chance for recovery.
Fifth, withdraw profits weekly, refuse numerical games
Money in your account that isn’t withdrawn is just a string of numbers!
My habit: Every Friday, I transfer 30% of my profits to my bank card, and continue rolling over the rest. By persisting over the long term, both my wallet and account can grow steadily, and the psychological pressure will be much less~
Sixth, avoid these pitfalls at all costs!
Leverage: Don’t exceed 50 times; the higher the risk, the greater the danger;
Frequency: Make a maximum of 3 trades a day; frequent trading can lead to poor decision-making;
Funds: Absolutely do not borrow money to trade cryptocurrencies; don’t touch money you can’t afford to lose!
In conclusion, remember this: trading cryptocurrencies is not gambling; treat it as a "serious job" -- clock in and out on time, shut down at the right time, and take breaks when needed. Stay rational, and you’ll earn money more steadily!
For friends currently facing losses and wanting to recover, trust Brother Xia, hop on and enjoy the profits!!!
