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3 Tips for Cryptocurrency Beginners (Practical Tips Without Tricks):
1. Don't bet on the direction; wait for clear signals first. Before the market moves, firmly avoid placing orders prematurely. Observation + patience are far more important than impulsively entering the market. Make sure to identify the trend, pattern, and capital flow. Only enter after all three are confirmed; avoid trading within consolidation zones or rushing for the first candle. Learning to wait is the safest way to maintain sufficient position and confidence.
2. Strictly control your position size; survival is key to turning things around. The biggest mistake new traders make with contracts is going all-in, which accounts for 99% of liquidations! Remember, risk per trade should be controlled within 3%-5% of your account. Contract leverage should be capped at 3-5 times. Always set stop-loss orders to cut off trades supported only by illusions. Avoid liquidation, and your account has unlimited potential.
3. Use a fixed strategy and completely abandon luck-based trades. Thinking "I bet it will go up" or "I feel it will drop today" is a recipe for liquidation. Develop a comprehensive trading plan. If the signals are not met, do not enter. Once conditions are satisfied, strictly follow profit-taking and stop-loss rules. Win with discipline, not luck.
I only do real trading, not virtual. If you want to avoid pitfalls and steadily profit, don’t walk the crypto journey alone. Keep up with the rhythm.