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Treat cryptocurrency trading as a job, clock in and out on time every day.
In the early years of Cryptocurrency Trading, like many others, I stayed up late every day watching the market, chasing after price rises and cuts, and lost so much that I couldn't sleep. Later, I gritted my teeth and insisted on using a simple method, surprisingly surviving, and slowly began to stabilize my profits.
Looking back now, this method is clumsy but effective: "If I don't see the signals I'm familiar with, I won't act!"
It is better to miss the market than to place orders recklessly.
With this iron rule, I can now stabilize my annual return rate at over 70%, and I no longer have to rely on luck to survive.
Here are a few risk management tips for beginners, based on my experiences of losing in real trading:
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1. Take profits immediately after making them.
Don't always think about doubling! For example, if you earned 1000U today, I suggest you immediately withdraw 300U to your y bank card and continue playing with the remaining amount.
I have seen too many people who "made three times their investment but want five times," only to lose it all back with a single pullback.
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2. Look at the indicators, not at the feelings.
Don't make trades based on feelings; that's just blind speculation.
Install TradingView on your phone and check these indicators before placing an order:
• MACD: Is there a golden cross or a death cross?
• RSI: Is there overbought or oversold?
• Bollinger Bands: Is there a squeeze or breakout?
At least two of the three indicators must give a consistent signal before considering entering the market.
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3. Stop-loss must be flexible
When you have time to watch the market, if you make a profit, manually move the stop-loss price up. For example, if the purchase price is 1000 and it rises to 1100, raise the stop-loss to 1050 to secure profits.
But if you are going out and cannot monitor the market, you must set a hard stop loss of 3% to prevent a sudden market crash from wiping you out.
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4. Must be out every week j
Not withdrawing q is all a numbers game!
Every Friday without fail, I transfer 30% of my profits to the y bank card, and the rest continues to be reinvested. This way, over the long term, the account will become thicker and thicker.
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5. There are tips for reading candlestick charts.
• For short-term trading, look at the 1-hour chart: if the price has two consecutive bullish candles, consider going long.
• If the market is stagnant, switch to the 4-hour chart to find support lines: consider entering the market when it drops near the support level.
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The last sentence is for you:
Cryptocurrency Trading is not a gamble. Treat it like a job, clock in and out every day, shut down at the end of the day, eat when it's time, sleep when it's time, and you will find that - q instead earns more steadily.