$pippin When I first entered the circle, I was like most people: staying up late to watch the market, chasing trends, experiencing liquidation, insomnia, anxiety, and all the negative emotions that come with it. The market's volatility left me exhausted.
Later, I finally realized that in the cryptocurrency trading business, I couldn't rely on impulse.
I changed my strategy, treating cryptocurrency trading like a regular job, going to work on time and executing according to plan.
Today, I share these experiences with you, especially beginners, remember to save them well:
1. Make trades only after 9 PM
The market's fluctuations during the day are chaotic and unpredictable, with frequent news updates that feel like a whirlwind.
Now, I basically operate only after 9 PM, because by then the news has been digested, the candlesticks are cleaner, and the market direction is clearer.
2. Take profits immediately
Don't be greedy.
If you earn 1000U, first withdraw 300U as profit, and continue operating with the remaining amount.
3. Look at indicators, don’t rely on feelings
Trading based on "feelings" is the easiest shortcut to liquidation.
I have TradingView on my phone, and I must check three indicators before making a trade:
MACD: Is it a golden cross or a death cross?
RSI: Is it overbought or oversold?
Bollinger Bands: Is there a breakout or a contraction?
Only when at least two indicators give consistent signals should you consider entering the market.
4. Move stop loss up with the rise
If you can monitor the market, move the stop loss up as the price rises.
If you cannot monitor it, remember to set a hard stop loss, such as 3%, to prevent sudden market fluctuations from wiping you out overnight.
5. Withdraw profits with a plan
The numbers in your account do not equal cash; withdrawals are the real money.
For every profit, withdraw 30%-50%, don’t fantasize about keeping everything for a tenfold return.
Withdraw in a timely manner to ensure stable profits.
6. There are skills to reading candlesticks, it’s not random
When doing short-term trading, check the 1-hour chart.
If there are two consecutive bullish candles, you can consider going long.
During sideways fluctuations, check the 4-hour chart, find support levels, and consider entering when the price approaches support.
7. Avoid these pitfalls:
Don’t go heavy on high leverage; one wrong step and you lose it all.
Don’t touch altcoins you don’t understand; they can easily be manipulated by whales.
Limit yourself to a maximum of 3 trades a day; exceeding that can lead to emotional decision-making and loss of control.
Never borrow money to trade cryptocurrencies; remember: never do it!
Trading cryptocurrencies is not about getting rich overnight, but about executing a stable strategy over the long term.
