Newcomers in the Crypto World: Keep These Experiences in Mind!

Entering the crypto world is not easy, especially for beginners and those trading contracts. The following experiences are hoped to be helpful to you:

1. Nighttime trading is calmer: During the day, emotions can run high, and market fluctuations are easily influenced by feelings. Trading at night allows for calmer analysis and reduces distractions.

2. Take profits when they are good, don’t chase orders: After making a profit, don’t be greedy; timely profit-taking is key. Don’t let greed destroy the profits you’ve worked hard to earn.

3. Prioritize the market, rely less on intuition: Before placing trades, first look at market trends; don’t make impulsive trades based on feelings. Rational analysis leads to better judgment.

4. Be flexible when watching the market, set limits when away: If you can monitor the market, be flexible to avoid minor fluctuations triggering stop-losses. But if you leave the market, make sure to set stop-loss and take-profit orders to prevent being caught off guard by sudden price spikes.

5. Secure your profits: The goal of trading is to make money; once profits are realized, you should withdraw or transfer a portion instead of leaving it in your account waiting for a potential loss.

6. Short-term strategies are important: When trading short-term, look at the hourly candlestick charts and combine them with secondary trend indicators to choose to go long or short. When facing sideways markets, pair with 4-hour or daily charts to determine direction, and always set stop-loss and take-profit levels.

Keep these in mind to have a better chance of navigating the crypto world more steadily!