In the cryptocurrency world, controlling greed is more important than skill. Greed for rebounds, greed to break even, and stubbornly holding onto losses are the main reasons for losing money. What the market fears is not stupidity, but stupidity combined with stubbornness. $YALA
In the first few years after I entered the market, I also watched the charts every day, chasing rises and falls, losing sleep over it. Later, I stuck to a simple method: if there’s no signal, don’t act; it’s better to miss out on opportunities than to place random orders.
Practical advice:
1️⃣ Operate after 9 PM, when news is stable and candlestick charts are clear.
2️⃣ Look at indicators: MACD, RSI, and Bollinger Bands; at least two of them should agree before opening a position.
3️⃣ Be flexible with stop-loss: if you can monitor the market, adjust the stop-loss up with the trend; if you go out, set a hard stop-loss at 3%.
4️⃣ Focus on candlesticks: for short-term, look at the 1-hour chart; two consecutive bullish candles can signal a long position; for sideways markets, use the 4-hour chart to find support.
5️⃣ Avoid trap coins: don’t touch altcoins.
Core principle: A moment of greed can lead to a loss; stop-loss saves your life, and minimizing losses can lead to long-term gains.