Some suggestions for newcomers in the crypto world
1. Don't trade during the day; it's better to trade at night. Firstly, daytime trading can lead to restlessness, affecting decision-making; secondly, it's difficult to assess the situation clearly.
2. After making a profit, do not chase trades; take profits. Never think about making a second profit after the first; otherwise, it's easy to end up losing.
3. Going long is beneficial compared to going short; unless absolutely necessary, avoid going short.
4. If you have time to monitor the market, do not set stop-loss and take-profit orders. This is to prevent minor fluctuations from triggering stop-losses and forcing liquidation, which could result in greater losses. If you don't have time to watch, you must set these orders to avoid significant losses, even potentially losing everything.
5. The purpose of trading is to withdraw funds. After making a profit, regularly transfer a portion to your capital account or withdraw it. Human desire is endless; after making a profit, one tends to desire even more, leading to reinvesting everything back into the market and ultimately losing it all (based on my personal experience). Additionally, if you experience continuous losses, do not deposit more U; maintain a good mindset.
6. For short-term trading, look at the 1-hour candlestick chart. If it’s a second-level rise, go long; if it’s a second-level decline, go short. When encountering sideways movement, if the future trend is unclear, refer to the 4-hour and daily candlestick charts to decide whether to go long or short. Also, set your take-profit and stop-loss levels accordingly.
7. Don’t put all your eggs in one basket; spread your funds as much as possible and trade with multiple positions and directions.
For the upcoming layout direction, I will guide everyone to aim for the lucrative opportunities in altcoins, especially those with high potential projects, where an expected return of over 10 times is not a problem. If you want to make big money in a bull market, like and leave a comment, and I'll help you strategize for the entire bull market!