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#FIL Treat cryptocurrency trading as a job, going to work on time every day.
In the first few years of cryptocurrency trading, I was like many others, staying up all night watching the market, chasing after price spikes and drops, losing sleep over my losses. Later, I grit my teeth and stuck to a simple method, and surprisingly, I managed to survive and gradually started to stabilize my profits.
Looking back now, this method, although clumsy, is effective: "If the signals I'm familiar with don't appear, I won't act!"
Better to miss the market than to place orders randomly.
With this strict rule, I can now maintain an annual yield of over 70%, and I no longer have to rely on luck to survive.
Here are a few tips for beginners, all based on the experiences I gained from real trading losses:
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1. Once you earn, immediately cash out for safety.
Don't always think about doubling your money! For example, if you made 1000U today, I suggest you withdraw 300U to your Y bank card immediately and continue playing with the rest.
I have seen too many people who want to make five times after earning three times, only to end up losing everything in a single pullback.
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2. Look at the indicators, not at the feelings.
Don't make trades based on feelings, that's just blind trading.
Install TradingView on your phone, and check these indicators before placing a trade:
• MACD: Is there a golden cross or a death cross?
• RSI: Is there overbought or oversold?
• Bollinger Bands: Is there a squeeze or a breakout?
At least two of the three indicators must give consistent signals before considering entry.
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3. Stop-loss must be flexible
When you have time to monitor the market, if you make a profit, manually adjust the stop-loss price upwards. For example, if the purchase price is 1000 and it rises to 1100, then raise the stop-loss to 1050 to secure the profit.
But if you need to go out and cannot monitor the market, you must set a hard stop loss of 3% to prevent being caught off guard by a sudden market crash.
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4. Must release j every week
The q that doesn't withdraw is just a numbers game!
I transfer 30% of my profits to the Y bank card every Friday without fail, and the rest continues to be rolled over. Over the long term, this way, the account will become thicker and thicker.
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5. There are tips for reading candlestick charts
• For short-term trading, look at the 1-hour chart: If the price has two consecutive bullish candles, you can consider going long.
• If the market is flat, switch to the 4-hour chart to find support lines: consider entering the market again when it drops near the support level.
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The last sentence is for you:
Cryptocurrency Trading is not a gamble. Treat it like a job, clock in and out at regular hours, shut down on time, eat when it’s time, sleep when it’s time, and you will find that—q instead becomes more stable.