Remember these tricks for trading cryptocurrencies: beginners can be steady, and even experienced traders can avoid pitfalls!
A summary of ten years of hard-earned lessons, follow these and save yourself ten years of mistakes:
1. The principle of itching hands
If the market isn't right, it's better to scroll through short videos than to place an order.
Just like playing Mahjong, if you don't have a winning hand, don't follow the crowd, or you will definitely get cut off.
2. Night Owl Strategy
During the day, news is flying everywhere, and it's hard to tell what's true.
The real direction often only becomes clear after nine in the evening.
3. Take a bite of the meat that's right in front of you
Earned 1000U? Immediately transfer 300U to your bank account!
Leave some in the market to continue playing; at least secure some profits, or else I've seen too many people watch their profits disappear, ending up with losses like an electric bike.
4. Essential "Monster Revealer" app on your phone
Install TradingView and check three things before placing an order:
MACD: Golden cross and dead cross
RSI: Overbought and oversold
Bollinger Bands: Contraction or expansion
Don't rush in blindly; take a good look first.
5. Be flexible with stop-losses
If you're in front of the computer, play with "moving stop-losses": if you make 100U, raise the stop-loss line by 50U.
Taking the dog out? Set a hard stop-loss at 5%, even if the big players crash the market at midnight, you can sleep soundly.
6. Give yourself a weekly dividend
No matter how much you earn, at three o'clock on Friday afternoon, transfer 30% to your bank account.
Remember: only money that is actually in hand counts as profit.
7. Watch K-lines like binge-watching a series
Want to trade short-term quickly? Focus on the 1-hour chart; two consecutive bullish candles are a signal.
Is the market moving sideways? Switch to the 4-hour chart and find support levels as accurately as you find a bathroom.
8. Never step into a death trap
Leverage over 10 times = playing with fire (newbies should use a maximum of 3 times)
Junk coins and dog coins are all traps
At most 3 trades a day; being greedy will lead to losses
Finally, remember this:
If you want to trade cryptocurrencies for the long term, the more relaxed you are, the fatter your wallet will be.
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