Treating cryptocurrency trading as a job is the only way to truly make money
In the first few years of entering the market, I was like most people: staying up late to watch the market, chasing prices up and down, experiencing the despair of liquidation, the torment of insomnia, and the anxiety of internal conflict. I experienced it all. Until later, I suddenly realized – treating cryptocurrency trading as a serious job, clocking in and out, and following the rules, is when the money started to flow in steadily.
The following points are hard-earned experiences from my real trading losses, and I suggest beginners keep them in mind:
1. Start trading only after 9 PM
During the day, news bombards you, and fluctuations are chaotic; the market seems erratic. I now only trade after 9 PM – by this time, the news has been digested, the candlestick patterns are cleaner, and the direction is clearer, doubling my win rate.
2. Take profits first, don’t be greedy
Withdraw as soon as you make a profit; don’t hold onto the fantasy of “tripling my investment and then quintupling it.” For example, if you make 1000 U, withdraw 300 U to secure your profit, and then gamble with the remainder. I’ve seen too many people treat unrealized gains as capital, and in the end, one adjustment wipes them out, losing even their principal.
3. Trust the indicators, not your gut
Don’t enter the market based on “intuition”; that’s the quickest way to liquidation! Install TradingView on your phone and check three signals before placing a trade: MACD (golden cross/death cross), RSI (overbought/oversold), Bollinger Bands (squeeze/breakout) – only consider opening a position if at least two signals agree.
4. Adjust your stop loss dynamically, don’t hold on stubbornly
When you can monitor the market, move your stop loss up as profits increase: for example, if you buy at 1000 U and it rises to 1100 U, raise your stop loss to 1050 U to lock in some profits; if you can’t monitor, set a 3% hard stop loss to protect against sudden crashes.
5. Always withdraw profits, secure your gains
The numbers in your account are virtual; only money transferred to your bank account is real! For every profit, force yourself to withdraw 30%-50%; don’t leave it all in the market fantasizing about “multiplying tenfold,” to avoid giving back profits.
6. There’s a technique to reading candlesticks, don’t mindlessly stare
For short-term trading, focus on the 1-hour chart: two consecutive bullish candlesticks indicate a potential buying opportunity; during sideways fluctuations, check the 4-hour chart for support levels and only act when the price approaches support to avoid chasing highs and falling into traps.
7. Avoid these four traps, or you’ll lose!
① Don’t use high leverage with large positions: one wrong step in direction and it’s zero; ② Avoid cryptocurrencies that you don’t understand: the probability of being liquidated is high; ③ No more than 3 trades a day: too many can lead to emotional loss of control; ④ Never borrow money to trade cryptocurrencies: that’s the bottom line, and crossing it is irreparable!
