Here are some life-saving suggestions for beginners, all based on my experiences learned from actual trading losses:
If it helps even one person, it’s worth it! I suggest liking and saving this, so you won’t lose it later.
1. Place 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 act, as by then the news has stabilized, and the candlestick charts are cleaner, with clearer direction.
2. Secure profits immediately
Don’t always think about doubling your investment! For example, if you made 1000 U today, I recommend you withdraw 300 U to your bank account immediately, and continue trading with the rest.
I’ve seen too many people who “made three times but wanted five times,” only to lose everything back on a single pullback.
3. Look at indicators, not feelings
Don’t trade based on feelings; that’s just blind.
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. Stop-loss must be flexible
When you have time to monitor the market, move your stop-loss price up manually once you’ve made a profit. For instance, if you bought at 1000 and it rises to 1100, move your stop-loss to 1050 to secure your profit.
However, if you need to go out and can’t monitor, definitely set a hard stop-loss at 3% to prevent sudden crashes from wiping you out.
5. Must withdraw every week
Not withdrawing profits is just a numbers game!
I consistently transfer 30% of profits to my bank account every Friday, while letting the rest continue to roll over. This way, over time, your account will grow thicker.
6. There are tricks to reading candlesticks
• For short-term trades, 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 near the support level.
7. Definitely avoid these pitfalls!
• Leverage should not exceed 50 times
• Don’t touch dog coins or meme coins, they are easy to get harvested
• Only make a maximum of 3 trades a day; too many can lead to losing control
• Absolutely do not borrow money to trade cryptocurrencies
Here’s a final piece of advice for you:
Trading cryptocurrencies is not gambling; treat it like a job, clock in and out each day, shut down when it's time, eat when it's time, sleep when it's time, and you’ll find—your profits become more stable.