I have just compiled my practical experience in trading coins from real transactions and want to share it with everyone. Actually, trading coins is not as complicated as many people think; as long as you understand the strategy clearly and stay consistent with it.

First, you need to distinguish between trading coins and holding coins. Trading coins is short-term trading, taking advantage of price fluctuations to make quick profits. For example, I buy Bitcoin at $45,000 USD, and after a few hours, it rises to $46,000 USD, then I sell. Conversely, holding coins means buying and keeping long-term, not caring about continuous fluctuations.

There are 5 common ways to trade coins that I usually use. The first is high-frequency trading (HFT) using automated bots, but this method is quite risky if you are not knowledgeable. The second is scalping—a swing trading strategy; I prefer this method because you can make small profits from many trades and then add up to a large amount. The third is range trading, based on the assumption that the price will fluctuate within a certain range. The fourth is technical analysis, observing charts to find buy and sell timing. The fifth is market news-based trading, predicting how people will react.

Regarding practical trading experience, the first step is to choose a reputable exchange. If you want high-frequency trading, you need an exchange with good analytical tools and low fees. If you only trade a few times a week, then prioritize security.

The second step is to define your strategy. Each strategy suits different types of coins. Scalpers usually choose Bitcoin or Ethereum because of high volatility and liquidity. Trend traders prefer coins with stable upward trends. Then compare coins within the same sector, analyze price patterns, and trend charts.

The third step is to choose the timing for placing orders. This is the most important part. I usually use candlestick models, indicators like support/resistance, trend lines, Fibonacci levels to find the optimal price. For example, with scalping, when the MFI indicator hits 100 for the third time and the next candle rises, that’s the signal to buy. Then set Stop Loss below the lowest point of the day and Take Profit after 60 minutes.

The fourth step is managing your wallet. If trading continuously, keep coins in the exchange’s trading wallet for quick access. When the day ends, transfer to a secure storage wallet.

The trading experience I’ve gained after many transactions is: always have a plan before entering a trade, never skip Stop Loss, and avoid trading when emotions are unstable. The cryptocurrency market is very volatile, so patience and discipline are essential.

There are some terms every trader should know: whales are those holding large amounts of coins, pump is a sharp price increase, dump is a sharp price decrease, hold means long-term holding, bull is a buyer when the market is rising, bear is a seller when the market is falling. Stop Loss is an automatic sell order when the price drops to a certain level to limit losses. Take Profit is when you predict the price will peak and decide to sell.

Finally, I recommend you try demo trading first. Coin trading offers high profits but also high risks accordingly. Understanding practical trading experience will help you earn sustainable profits rather than just luck. If you’re not ready yet, create a demo account to practice before using real money.