Some advice for newcomers to the cryptocurrency community
1. Don’t place orders during the day, it’s best to do them at night. First, being impetuous during the day affects ordering, and second, it is difficult to see the situation clearly.
2. Do not chase orders after making a profit and take profit. Don't think about making a profit on a second order after making a profit, otherwise it will be easy to lose money.
3. Going long is beneficial to shorting, and you must not go short unless you have to.
4. If you have time to watch the market, do not set a stop loss or stop profit. This is to prevent slight fluctuations from triggering the stop loss price and resulting in forced liquidation, which will affect greater profits. If you don’t have time to look, you must set it up to avoid a lot of damage caused by pin insertion, or even reset to zero.
5. The purpose of placing an order is to withdraw funds, and part of the profits will be transferred regularly to the capital account or withdrawn. Because people's desires are endless. Once they make a profit, they want to make more profits. As a result, they invest all the money they earn in the market, and end up losing everything (my personal experience). In addition, if you have suffered continuous losses, do not recharge, and control your mentality.
6. For short-term longs and shorts, look at the one-hour K-line. If the second step rises, go long, and if the second step falls, go short. When encountering sideways trading, if you cannot clearly judge the future trend, just look at the 4-hour and 1-day K-line to decide whether to go long or short. At the same time, set a stop profit and stop loss.
7. Don’t put your eggs in the same basket, separate your funds as much as possible, and place orders in multiple positions and directions.
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