Some advice for newcomers in the cryptocurrency world
1. Don't trade during the day; it's better to trade at night. First, being restless during the day can affect your trading, and second, it's hard to see the situation clearly.
2. Don't chase trades after making a profit; take your profits. Never think that after making a profit on one trade, you can profit from a second trade; otherwise, you can easily lose everything.
3. Going long is more favorable than going short; unless absolutely necessary, never go short.
4. If you have time to monitor the market, don't set stop-loss and take-profit orders. This is to prevent minor fluctuations from triggering stop-loss prices, leading to forced liquidation, which affects larger gains. If you don't have time to monitor, you must set them to avoid large losses, even wiping out your account.
5. The purpose of trading is to withdraw funds; regularly transfer a portion of your profits to your capital account or withdraw it. Because human desire is endless, once you make a profit, you want to make even more, resulting in all your gains being reinvested in the market, and ultimately losing everything (from my personal experience). Also, if you experience consecutive losses, don’t recharge your account; maintain a good mindset.
6. For short-term trading, look at the one-hour candlestick chart; go long on a second-level rise and go short on a second-level drop. If you encounter sideways trading and can't clearly judge the future trend, check the four-hour and daily candlestick charts to decide whether to go long or short. Also, set your take-profit and stop-loss levels.
7. Don’t put all your eggs in one basket; try to diversify your funds and trade in multiple positions and directions.
For the upcoming layout direction, I will guide everyone to target lucrative opportunities in altcoins, especially those with high potential projects. An expected growth of over 10 times is definitely achievable. If you want to make big money in a bull market, give a thumbs up and leave a comment, and I will take you through the entire bull market!
