Newcomers entering the cryptocurrency world, please pause for a moment and listen to some heartfelt words from Dong Ge, a must-read to avoid pitfalls!!!
For all traders who have just entered the market or have only a few years of trading experience, you must avoid the habit of opening positions mentioned below; otherwise, it will be difficult to escape the vortex of losses. Many people, as soon as they open the market or just turn on their computer or phone, want to place an order immediately, which is a big mistake!
Because I started like this too; seeing the candlestick chart fluctuating constantly, I was afraid of missing out on the market and didn't place an order, not knowing what waiting meant. Even if I waited, I didn't know what I was waiting for.
So today, I'll use a short-term trade as an example to clearly tell you what you are waiting for and how to find the correct opening point.
1. Keep up with the market rhythm; short-term trading relies on immediate price fluctuations and requires close attention to 1-minute, 5-minute, and 15-minute charts.
2. Simplify and focus on 1-3 core tools (such as candlestick patterns, moving averages, trading volume).
3. Quick decisions: profit target of $3 to $8, strict stop loss of $1 to $3.
4. Choose high volatility periods, focusing on trading during the London opening.
Now let's take a look at the short-term pitfall avoidance guide:
1. Avoid the 5 minutes before data announcements: Non-farm payrolls, CPI, and other events can easily lead to wider spreads and slippage.
2. Refuse to "hold on stubbornly": if losses > $2, stop loss immediately to avoid short-term trades turning into medium-term ones.
3. Do not go against the trend: even when trading short-term, look at the trend direction on the 1-hour chart (for example, if the 1-hour EMA is upward, only go long).
4. Avoid overtrading: limit daily trades to ≤ 5, and maintain a flat position for over 80% of the time.
Final key reminder: the success rate of short-term trading is usually between 55%-65%, and the core of profitability lies in the risk-reward ratio > 1.5:1 (for example, earning $5 and losing $3). It is recommended to test strategies using a demo account first, and only operate in the real market after stabilizing.
Short-term trading in gold is like dancing on the edge of a knife; discipline is the only protection.
Dong Ge only trades in the real market, not making empty promises. There are still openings in the team, and for those brothers and sisters who want to learn methods and turn things around, come join us and get started! #加密市场观察
For all traders who have just entered the market or have only a few years of trading experience, you must avoid the habit of opening positions mentioned below; otherwise, it will be difficult to escape the vortex of losses. Many people, as soon as they open the market or just turn on their computer or phone, want to place an order immediately, which is a big mistake!
Because I started like this too; seeing the candlestick chart fluctuating constantly, I was afraid of missing out on the market and didn't place an order, not knowing what waiting meant. Even if I waited, I didn't know what I was waiting for.
So today, I'll use a short-term trade as an example to clearly tell you what you are waiting for and how to find the correct opening point.
1. Keep up with the market rhythm; short-term trading relies on immediate price fluctuations and requires close attention to 1-minute, 5-minute, and 15-minute charts.
2. Simplify and focus on 1-3 core tools (such as candlestick patterns, moving averages, trading volume).
3. Quick decisions: profit target of $3 to $8, strict stop loss of $1 to $3.
4. Choose high volatility periods, focusing on trading during the London opening.
Now let's take a look at the short-term pitfall avoidance guide:
1. Avoid the 5 minutes before data announcements: Non-farm payrolls, CPI, and other events can easily lead to wider spreads and slippage.
2. Refuse to "hold on stubbornly": if losses > $2, stop loss immediately to avoid short-term trades turning into medium-term ones.
3. Do not go against the trend: even when trading short-term, look at the trend direction on the 1-hour chart (for example, if the 1-hour EMA is upward, only go long).
4. Avoid overtrading: limit daily trades to ≤ 5, and maintain a flat position for over 80% of the time.
Final key reminder: the success rate of short-term trading is usually between 55%-65%, and the core of profitability lies in the risk-reward ratio > 1.5:1 (for example, earning $5 and losing $3). It is recommended to test strategies using a demo account first, and only operate in the real market after stabilizing.
Short-term trading in gold is like dancing on the edge of a knife; discipline is the only protection.
Dong Ge only trades in the real market, not making empty promises. There are still openings in the team, and for those brothers and sisters who want to learn methods and turn things around, come join us and get started! #加密市场观察