Treat trading cryptocurrencies like a job, clock in and out on time every day. In the early years of trading, I, like many others, stayed up all night watching the market, chasing rises and falls, and lost sleep over my losses. Later, I gritted my teeth and stuck to a simple method, and surprisingly, I survived and slowly began to make stable profits. Looking back now, this method, though simple, was effective: 'If I don't see the signals I'm familiar with, I won't act!' I'd rather miss opportunities than make random trades. With this ironclad rule, I can now stabilize my annual returns at over 75%, and I no longer have to rely on luck to survive. Here are some life-saving tips for beginners, all based on my experience gained from real trading losses:
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1. Cash out immediately after making a profit. Don't always think about doubling your money! For example, if you've made 1000 U today, I suggest you withdraw 300 U to your bank card immediately, and continue to trade with the rest. I've seen too many people who 'made three times and wanted five times,' only to lose it all in a pullback.
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2. Look at indicators, not feelings. Don't trade based on feelings; that's just guessing. Before trading, check these indicators:
• MACD: Is there a golden cross or death cross?
• RSI: Is it overbought or oversold?
• Bollinger Bands: Is there a squeeze or a breakout?
At least two of the three indicators must give consistent signals before considering a trade.
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3. Stop-loss must be flexible. When you have time to monitor the market, if you're in profit, manually adjust the stop-loss price up. For example, if your buy price is 1000 and it rises to 1100, raise the stop-loss to 1050 to secure profits. But if you need to go out and can't monitor the market, set a hard stop-loss of 3% to prevent being wiped out by sudden crashes.
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4. Withdraw profits weekly. Not cashing out is just a numbers game! I consistently transfer 30% of my profits to my bank card every week, and the rest continues to be rolled over. This way, over time, the account will grow thicker.
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5. There are tricks to 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 near support levels.
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One last thing for you: Trading cryptocurrencies is not gambling. Treat it like a job, clock in and out on time, turn off the computer at quitting time, eat when it's time to eat, and sleep when it's time to sleep, and you'll find 💵 that your profits will actually become more stable.