Recently, many beginners have contacted me, saying that they frequently trade as soon as they enter the market, buying and selling several times a day. As a result, not only did they not make money, but they also lost a considerable amount in transaction fees. This is actually the most common mistake beginners make; in the crypto market, making money relies not on the number of trades but on the quality of trades. When I first entered the market, I also made this mistake, trading up to 10 times a day, and the more I traded, the more I lost. Later, I changed my strategy, reduced the number of trades, and improved the quality of the trades, which slowly turned my losses into profits. Today, I will share all the practical skills I used to turn 2500U into 1.5 million U with you. Beginners can follow this, and it will help you avoid a lot of detours.
The first tip is to "choose the right trading time." The cryptocurrency market operates 24 hours, but not all times are suitable for trading. I usually only trade around the opening times of mainstream markets, that is, from 8 AM to 12 PM and from 2 PM to 6 PM. During these times, the market's trading volume is large, and the market conditions are relatively stable, making it less likely to experience manipulation. At other times, I generally take a break or look at market analysis and do not trade blindly. Newcomers must remember not to trade late at night, as staying up late can reduce your judgment and lead to wrong decisions.
The second tip is to "use conditional orders instead of manual trading." Many newcomers like to trade manually and cannot help but buy and sell when they see market fluctuations, but manual trading can easily be influenced by emotions, leading to chasing highs and selling lows. Most of my trades are now completed using conditional orders. For example, if I anticipate that a certain mainstream currency will rise to a certain price, I set a limit buy order; if I anticipate it will drop to a certain price, I set a stop-loss sell order. The benefit of doing this is that it avoids emotional interference and strictly executes the trading plan. Once I set a stop-loss order, and that day the market really dropped sharply, the stop-loss order was automatically triggered, helping me avoid greater losses.
The third tip is to "learn to read the market and grasp the timing for entry." Newcomers do not need to master too many complex technical indicators; just learning to look at moving averages and trading volume is enough. When the short-term moving average breaks through the long-term moving average, and the trading volume increases, that is a good entry point; when the short-term moving average falls below the long-term moving average, and the trading volume increases, that is a good exit point. For example, last year, there was a wave of rising prices for mainstream currencies. I saw the short-term moving average break through the long-term moving average, and the trading volume also increased, so I decisively bought in and made a lot of profit in the end.
The fourth tip is to "control emotions and avoid emotional trading." The cryptocurrency market fluctuates greatly, making it easy for people to lose control of their emotions and make wrong decisions. I have summarized a method to control emotions, which is to "delay trading." When you want to buy or sell, first delay for 10 minutes. During these 10 minutes, calmly analyze the market and think about your trading reasons. Many times, after 10 minutes, you will realize that your previous decision was wrong.
Making money in the cryptocurrency market is not difficult; the hard part is controlling your hands and emotions. If you are still frequently trading and trading emotionally, you might want to try my tips. Follow me, and tomorrow I will share how to set conditional orders to help you improve trading efficiency and reduce losses while increasing profits. Trust me, as long as you can improve trading quality and reduce trading frequency, ordinary people can also succeed in the cryptocurrency market.
