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The people in the crypto circle who have lost everything are all ignoring one simplest principle: controlling greed. Making money isn't that hard.
You're not really incapable of stopping losses; it's just that you're always thinking about that "possible surge." Once you incur a loss, you start to hold on stubbornly, stay up late chasing highs and cutting lows, and end up sinking deeper and deeper. Basically, it's greed. Greed for rebounds, greed to recover losses, greed for that final big market move. Like most people, in the end, you lose so much that you can't even sleep.
Fortunately, I later figured out a simple method. It's not complicated, but it gradually changed the situation. Looking back now, this method is very crude, but truly effective—without confirmation signals, I won't make a move. Better to miss the opportunity than to give in to impulsiveness. This is my bottom line. Today, I want to share some painful lessons with you:
**1. Look for opportunities after 9 PM**
The daytime market is too chaotic. News is everywhere, candlesticks look crazy, and it's easy to be fooled into entering. My habit is to wait until after 9 PM to observe the market. By then, the noise has settled, the charts are clearer, and the direction is more obvious. Acting at this time makes my mindset more stable.
**2. Follow indicators, not feelings**
Open TradingView and focus on these: whether MACD has a golden/death cross, whether RSI is in overbought/oversold zones, whether Bollinger Bands are touching the boundaries. Only consider entering when at least two indicators give signals simultaneously.
**3. Lock in profits and tighten stop-loss immediately**
If you can monitor the market, as the price rises, move your stop-loss up. For example, if you entered at 3000, and it rises to 3100, move your stop-loss to 3050 to lock in profits. If you can't watch constantly, set a hard stop-loss at 3% to prevent a sudden night plunge from wiping you out.
**4. Use the 1-hour chart to find rhythm**
I prefer to look at 1-hour candlesticks for short-term trades. Two consecutive bullish candles generally indicate a good opportunity to go long. If the market is sideways, switch to the 4-hour chart to find support levels. When the price approaches support, consider entering.
**5. Beware of traps**
Avoid low-liquidity altcoins. These coins are too easily manipulated by big players, and retail investors just get cut.
The winner isn't the one who makes the most money, but the one who lasts the longest. Lose less, survive longer, and you can laugh last.