Some Advice for Crypto Newbies

Avoid trading during the day; it's best to trade at night. This is because during the day, you may be Impatient and impatient, which can affect your trading decisions. Additionally, it can be difficult to discern the market situation clearly during the day.

Do not chase orders after making a profit; take profits. Never think that after making a profit on one order, you will make a profit on the next. Otherwise, it's easy to lose everything.

Only go short as a last resort. Shorting can be very risky, so do not go short unless absolutely necessary.

If you have time to monitor the market, do not set stop-loss and take-profit levels. This is to prevent minor fluctuations from triggering the stop-loss price and causing a forced liquidation, which can affect greater potential profits. If you don't have time to watch the market, you must set these levels to avoid significant losses due to sudden sharp market movements, even leading to a total loss.

The purpose of trading is to withdraw profits. After making a profit, transfer a portion of it to your capital account or withdraw it regularly. Human greed is insatiable; once you make a profit, you want to make more, and you end up reinvesting everything you've earned back into the market, only to lose it all (based on personal experience). Also, after consecutive losses, do not recharge; control your mindset.

For short-term trading, use the one-hour candlestick chart. Go long when there are two ascending steps, and go short when there are two descending steps. When encountering a sideways market and it's unclear to determine the future trend, look at the 4-hour and 1-day candlestick charts to decide whether to go long or short. Also, set your stop-loss and take-profit levels accordingly.

Don't put all your eggs in one basket; diversify your funds and trade with multiple positions in different directions.