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$10,000 turned into $670,000, there are no insider secrets, nor is it just luck that did the trick. It’s simply the trading feel developed over 1095 days of grinding for three years. Trading cryptocurrencies, honestly, is like leveling up in a game; patience and discipline are the ultimate bosses. Today, let’s open up the trading journal and share 6 practical tips. Understanding just 1 can help you avoid losing tens of thousands of dollars, and mastering 3 can reliably help you surpass most retail investors.
**Tip 1: Grasp the rhythm of price movements to avoid falling into the main players’ traps**
When the market surges rapidly but declines slowly, it’s often a sign that the big players are quietly accumulating. After a sharp rise, if it slowly drifts down, that’s usually a shakeout—don’t rush to sell out. Conversely, if there’s a quick drop followed by a slow recovery, it’s typically the main players distributing. Don’t be naive about rebounds after a flash crash; they’re often just a bounce-back, not an opportunity to buy the dip. Also, note that large volume at high levels isn’t necessarily a sign of a top; in fact, low volume periods require more caution. When a coin suddenly shows high volume at the bottom, don’t impulsively follow the trend; check if the volume is sustained. Only continuous high volume indicates genuine institutional accumulation.
**Tip 2: Trading volume is the key, candlestick charts are just surface-level**
Volume is the thermometer of market sentiment. Candlestick charts, on the other hand, only show the results after the trade has happened. Coins with very low trading volume indicate a lack of attention and little participation, making them less worth engaging with. Only when volume suddenly spikes does it suggest real funds are entering, which deserves close attention. Often, those who focus solely on candlestick patterns end up losing money; those who pay attention to volume tend to survive longer.
**Tip 3: Be honest and patient when it’s time to stay out of the market—this is also a skill**
During sideways consolidation, your patience is tested the most. When it’s time to stay out, stay calm. When it’s time to buy the dip, act decisively. Calm and composed traders are the winners. There are many opportunities in the crypto space, but very few can hold on until the real opportunities arrive. Don’t mess around in choppy markets; grasp the rhythm and carefully step through each move.
These 6 tips come from 3 years of hands-on experience. Every one of them was learned the hard way. I hope you can avoid some detours on your path.