$PIPPIN
In the cryptocurrency world, human nature always comes before technology.
Greed for rebounds, greed for resolutions, refusing to admit mistakes and holding on until you lose everything, basically sums up the three essentials of liquidation.
What the market truly fears is not a lack of skill, but rather the stubbornness to hold on when it's clearly wrong.
When I first entered the market, I was also a novice, staring at the screen until dawn, chasing highs and cutting losses, losing sleep over it.
Later, I forced myself to follow a 'dumb rule': don't act without signals; missing a trend doesn't matter, but randomly placing orders can be deadly.
In practice, I have always done it this way:
1️⃣ Only take action after 9 PM, when news has been digested, the trends are stable, and the candlesticks are cleaner.
2️⃣ Don't place orders unless indicators align: MACD, RSI, Bollinger Bands, at least two in the same direction before considering entry.
3️⃣ Adjust stop-loss according to the situation:
If you can monitor the market, follow the trend to raise the stop-loss;
If you need to go out, set a hard stop-loss at 3% to prioritize safety.
4️⃣ Candlestick usage:
For short-term, monitor 1 hour; only go long after two bullish candles;
During volatile markets, switch to 4 hours, find support before acting.
5️⃣ Stay away from junk coins:
Limit exposure to altcoins; they are often risky and unreliable.
In summary:
A moment of greed can lead to a loss on a trade; with a stop-loss in hand, life goes on. Minimizing losses allows for longevity.