If you want to make big money trading crypto, don’t expect to get rich overnight! Here are 6 ironclad rules I’ve learned that can help you avoid a lot of costly detours!
After years of trading crypto, I’ve come to understand that making money takes skill, while keeping it takes discipline. Markets go up and down, and if you want to weather both bull and bear markets, remember these 6 rules!
1. Try to stick to set trading hours.
I usually check the charts after 9 p.m. There’s too much news during the day, and it’s easy to get swept up in the market hype. But don’t focus only on the time—if the signals aren’t clear, don’t enter a trade.
2. Set aside some of your profits first.
If you make 1,000 USDT, you could take 300 USDT out and put it away, then trade with the rest. Don’t keep chasing bigger gains after you’ve already made money, only to give all your profits back in the end.
3. Don’t place trades on a whim.
Use TradingView to check the MACD, RSI, and Bollinger Bands, and combine them with trend analysis. If the signals don’t line up, keep waiting.
4. Never put off setting a stop-loss.
If the market rises, you can move your stop-loss up accordingly. If you don’t have time to watch the charts, set your stop-loss in advance so you don’t wake up to a huge loss.
5. Remember to review your trades and withdraw some money each week.
Take out some of your profits and manage the rest sensibly. Don’t let the balance in your account keep growing on screen, only to end up with nothing to show for it.
6. Look at different timeframes together.
Use the 1-hour chart for short-term trades. When the market is moving sideways, switch to the 4-hour chart to find support and resistance. Don’t rush in just because you see two bullish candles—confirm the trend before taking action.
Crypto trading isn’t gambling. Protect your capital first, then think about making money. There’s a long road ahead, so don’t rush to get rich overnight. @闪迪大圣
After years of trading crypto, I’ve come to understand that making money takes skill, while keeping it takes discipline. Markets go up and down, and if you want to weather both bull and bear markets, remember these 6 rules!
1. Try to stick to set trading hours.
I usually check the charts after 9 p.m. There’s too much news during the day, and it’s easy to get swept up in the market hype. But don’t focus only on the time—if the signals aren’t clear, don’t enter a trade.
2. Set aside some of your profits first.
If you make 1,000 USDT, you could take 300 USDT out and put it away, then trade with the rest. Don’t keep chasing bigger gains after you’ve already made money, only to give all your profits back in the end.
3. Don’t place trades on a whim.
Use TradingView to check the MACD, RSI, and Bollinger Bands, and combine them with trend analysis. If the signals don’t line up, keep waiting.
4. Never put off setting a stop-loss.
If the market rises, you can move your stop-loss up accordingly. If you don’t have time to watch the charts, set your stop-loss in advance so you don’t wake up to a huge loss.
5. Remember to review your trades and withdraw some money each week.
Take out some of your profits and manage the rest sensibly. Don’t let the balance in your account keep growing on screen, only to end up with nothing to show for it.
6. Look at different timeframes together.
Use the 1-hour chart for short-term trades. When the market is moving sideways, switch to the 4-hour chart to find support and resistance. Don’t rush in just because you see two bullish candles—confirm the trend before taking action.
Crypto trading isn’t gambling. Protect your capital first, then think about making money. There’s a long road ahead, so don’t rush to get rich overnight. @闪迪大圣
