Some suggestions for newcomers in the cryptocurrency circle:

Trading time selection: It is recommended to trade at night, because the daytime is easily affected by emotional fluctuations and the market situation is difficult to judge clearly. Trading at night is relatively calm and more conducive to making wise decisions.

Post-profit strategy: You should stop profit in time after making a profit to avoid greed driving you to pursue more profits and thus fall into losses. Remember, a successful transaction does not mean that it can be replicated continuously.

Going long is better than going short: In most cases, going long (buying) is safer than going short (selling). Unless you are absolutely sure, don't try to go short easily.

Stop loss and stop profit setting:

There is time to watch the market: If you don't want to trigger the stop loss due to slight fluctuations, resulting in forced liquidation and affecting profits, you can not set stop loss and stop profit, but you need to pay close attention to market dynamics.

No time to watch the market: To ensure safety, stop loss and stop profit must be set to prevent severe market fluctuations (such as pins) from causing major losses.

Fund management: The purpose of trading is to make profits and withdraw funds. Once you make a profit, you should regularly transfer part of the profit to the capital account or withdraw it to control your desire and avoid reinvesting the profit in the market and eventually losing money. When you suffer continuous losses, do not add funds, stay calm, and adjust your mentality.

Short-term trading skills:

One-hour K-line analysis: When trading short-term, pay attention to the one-hour K-line, and decide whether to go long or short based on the second-step up and down trend.

Sideways processing: When encountering sideways trading, observe the 4-hour and 1-day K-lines to judge the future trend and make trading decisions accordingly.

Stop loss and stop profit setting: No matter what the situation, stop loss and stop profit should be set in advance to control risks.

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