$ETH In the early years after I entered the circle, I was like most people:
Staying up late watching the market, chasing trends, suffering losses, insomnia, anxiety, I experienced it all.
Later, I changed and only did one thing:
Treat the cryptocurrency market as a job, clocking in and out on time, executing plans as scheduled.
The following points are my real trading experiences from losses; beginners should take note:
1. Place orders after 9 PM
There are many messages during the day, and fluctuations are chaotic, like a fit of madness.
I basically only trade after 9 PM now; by then, the news has been digested,
The candlestick charts are cleaner, and the direction is clearer.
2. Take profits immediately
Don't be greedy. If you earn 1000U, first withdraw 300U to secure it, and play with the rest.
I have seen too many people who "made three times but wanted five times";
In the end, a single pullback brought them back to square one, with nothing left.
3. Look at indicators, don't rely on feelings
Don't enter the market based on "feelings"; that's the quickest way to blow up.
Install TradingView on your phone and check these 3 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 should give a consistent direction before considering entry.
4. Move stop-loss up with the rise
When you have time to watch the market, move the stop-loss up as the price rises; for example, if the purchase price is 4300,
When it rises to 4400, move the stop-loss up to 4350.
If you can't watch the market, make sure to set a hard stop-loss of 3% to prevent sudden crashes.
5. Have a plan for withdrawals when you make profits
The numbers in your account aren't money; only when it is withdrawn to your bank card is it real money.
For every profit, withdraw 30%-50% and don't keep it all hoping to multiply it tenfold.
6. There are skills to reading candlesticks, not random clicks
For short-term trades, look at the 1-hour chart; two consecutive bullish candles can indicate a buying opportunity.
If it's in a sideways consolidation, check the 4-hour chart for support levels;
Consider entering when the price approaches support.
7. Avoid these pitfalls at all costs!
Don't use high leverage with heavy positions; a wrong step in direction can wipe you out.
Do a maximum of 3 trades a day; more can lead to emotional loss of control.
Trading forex is not about impulsive wealth, but about long-term execution of a strategy.
You will find that money is actually earned more steadily.
