1. Trade only after 9 PM.
During the day, the news is too chaotic, with all sorts of fake good and bad news flying around; the market fluctuates wildly, making it very easy to get tricked into trading.
I usually wait until after 9 PM to trade, by then the news is generally stable, and the candlestick patterns are cleaner with clearer directions.
2. Secure your profits as soon as you earn.
Don't always think about doubling your money! For example, if you lost 1000U today, I suggest you withdraw 300U to your bank account immediately and continue playing with the rest.
I have seen too many people who 'made three times but wanted five times' end up losing everything in a single pullback.
3. Look at indicators, not feelings.
Don't trade based on feelings; that's just random.
Install TradingView on your phone and check these indicators before trading:
• MACD: Is there a golden cross or a death cross?
• RSI: Is there overbought or oversold?
• Bollinger Bands: Is there a squeeze or a breakout?
Only consider entering when 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, if you make profits, manually adjust your stop-loss price upwards. For example, if your buying price is 1000 and it rises to 1100, raise your stop-loss to 1050 to protect your profits.
But if you need to go out and cannot monitor the market, you must set a hard stop-loss of 3% to prevent unexpected crashes from wiping you out.
5. Must exit every week.
If you don't withdraw your profits, it's all just a numbers game!
Every Friday without fail, I transfer 30% of my profits to my bank card, and continue to roll the rest. Over the long term, this will make your account thicker and thicker.
6. There are tricks to reading candlesticks.
• For short-term trading, look at the 1-hour chart: if there are two consecutive bullish candles, you can consider going long.
• If the market is flat, switch to the 4-hour chart to find support lines: only consider entering when the price approaches the support level.
7. Definitely avoid these pitfalls!
• Don't use leverage greater than 50 times.
• Don't touch Dogecoin, shitcoins, and other altcoins; they're easy to get ripped off.
• A maximum of 3 trades a day; too many can lead to losing control.
• Absolutely do not borrow money to trade cryptocurrency.
The last sentence I want to give you:
Trading cryptocurrency is not gambling; treat it like a job. Work regular hours and shut down at the end of the day. Eat and sleep on time, and you will find that your profits are more stable.
I have been in the market for many years, deeply understanding the opportunities and traps within it. If your investment is not going well and you feel wronged about your losses, leave a 999 in the comments! I will share my insights.
