Some Advice for Newcomers in the Cryptocurrency World

Stay true to your original intention, and you will achieve your goals. Welcome to all cryptocurrency friends to consult and exchange ideas.

1. Make trades after 9 PM

During the day, the news is too chaotic, with various false positives and negatives flying around. The market fluctuates wildly, making it easy to get trapped. I usually wait until after 9 PM to operate; by then, the news is basically stable, and the candlestick chart is cleaner with a clearer direction.

2. Take profits immediately

Don’t always think about doubling your money! For example, if you made a profit of 1000 U today, I suggest you withdraw 300 U to your bank account immediately and continue to play with the rest. I have seen too many people who “made three times their investment yet still wanted five times,” only to lose everything in a single correction.

3. Look at indicators, not feelings

Don’t make trades based on feelings; that’s blind speculation. 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 contraction or breakout?

Consider entering the market only if at least two of the three indicators give consistent signals.

4. Be flexible with stop-losses

When you have time to monitor the market and make a profit, manually move the stop-loss up. For example, if your purchase price is 1000 and it rises to 1100, raise your stop-loss to 1050 to secure your profit. But if you need to go out and can’t monitor the market, definitely set a hard stop-loss at 3% to prevent sudden market crashes wiping you out.

5. Withdraw profits weekly

Profits that aren’t withdrawn are just a numbers game! Every Friday, without fail, I transfer 30% of my profits to my bank account, while the rest continues to roll over. This way, over time, your account will grow 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, consider going long.

• If the market is stagnant, switch to the 4-hour chart to find support lines: only consider entering the market when it approaches support levels.

7. Avoid these pitfalls!

• Don’t use leverage greater than 50x

• Avoid Dogecoin, Shitcoin, and other altcoins; they are easy to get wrecked in

• Limit yourself to a maximum of 3 trades a day; too many can lead to loss of control

• Absolutely do not borrow money to trade cryptocurrencies

One last piece of advice: Trading cryptocurrencies is not gambling. Treat it like a job, clock in and out at set times, shut down at the designated time, eat and sleep as needed, and you’ll find that you actually earn more steadily.