In the first few years of trading cryptocurrencies, I was like many others, staying up late to monitor the market, chasing trends, and losing sleep over losses. Later, I gritted my teeth and stuck to one simple method, surprisingly managing to survive and gradually stabilizing my profits.
Looking back now, this method may seem simple but effective: 'If the familiar signals don’t appear, absolutely don’t act!'
Better to miss out on a trend than to place random trades. —
By following this ironclad rule, I now consistently earn over 50% annually, and I no longer have to rely on luck to survive. —————
Here are a few safety tips for beginners, based on my own costly experiences:
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1. Only trade after 9 PM —————
During the day, the news is too chaotic, with all sorts of false positives and negatives flying around; the market swings wildly like it’s having a fit, making it easy to get tricked into a trade.
I generally wait until after 9 PM to operate; by then, the news has stabilized, and the candlestick patterns are cleaner and clearer.
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2. Cash in immediately after making a profit ————
Don’t always think about doubling! For example, if you made 1000U today, I suggest you withdraw 300U to your bank card immediately, and continue playing with the rest.
I’ve seen too many people who 'took three times but still want five times,' only to lose it all on one pullback. —————
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3. Look at indicators, not feelings
Don’t trade based on feelings; that’s just blind luck.
Install TradingView on your phone, and check these indicators before trading:
• MACD: Is there a golden cross or death cross ———
• RSI: Is there overbought or oversold ———
• Bollinger Bands: Is there a squeeze or breakout ———
At least two of the three indicators must give consistent signals before considering entry.
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4. Stop-loss must be flexible
When you can watch the market, if you’re in profit, manually adjust your stop-loss upwards. For example, if your purchase price is 1000 and it goes up to 1100, raise your stop-loss to 1050 to secure profit.
But if you have to go out and can’t monitor the market, be sure to set a hard stop-loss at 3% to prevent unexpected crashes.
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5. Must withdraw profits weekly
Profits that aren’t withdrawn are just numbers! —————
Every Friday without fail, I transfer 30% of my profits to my bank card, and continue to roll the rest. This way, over the long term, my account will gradually grow thicker.
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6. There are tricks to reading candlesticks —————
• For short-term trading, look at the 1-hour chart: if the price has two consecutive bullish candles, consider going long. —————
• If the market is flat, switch to the 4-hour chart to find support lines: consider entering when it approaches support levels. —————
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7. Avoid these pitfalls! ———
• Don’t use leverage over 10 times; beginners should keep it within 5 times ———
• Avoid Dogecoin, Shiba Inu, and other altcoins; they are easy to get wrecked ———
Last words for you: —————
Trading cryptocurrencies isn’t gambling; treat it as a job. Work regular hours, switch off at the end of the day, eat and sleep when it's time, and you’ll find — profits will be more stable instead.
