Many people think that as long as the direction of the contract is correct, they will win.
I can tell you from personal experience — wrong.
In my first year of trading contracts, I lost a total of 730,000 in six months.
The irony is that I was right in direction several times.
But in the end, I lost everything.
Later, when I reviewed the settlement slips, I realized that I wasn’t losing to the market,
but to the three traps set by the market makers.
The first trap: rushing in too early.
As soon as the market moves, I get excited and want to open a position,
seeing a breakout and going all in, only to find that I get taken out right after I rush in.
The second trap: setting stop losses too tight.
Many people like to set hard stop losses at 3% or 5%,
but the fluctuations in contracts are ten times greater, and that little space is just candy in the eyes of the market makers.
I was swept out by 'false breakouts' three times in a row,
watching the market surge in the direction I predicted,
but I had already been kicked out.
Later, I understood: a stop loss is not a 'fixed point', it's 'dynamic'.
It has to move with the fluctuations, not with emotions.
The third trap: going all in with heavy positions.
A single all-in bet is like handing your life over to the market.
Even if the direction is correct, as long as the fluctuations go against you for a few candlesticks,
your account will still be wiped out.
The night I blew my account, watching the balance reach zero, I was frozen.
Since then, I forced myself to establish three iron rules:
1. No all-in bets, always divide positions into three;
2. Adjust stop losses with fluctuations; don’t cling to fixed points;
3. If the market is unclear, don’t take action; being in cash counts as a position.
With this set of rules, I went from continuous blowouts to stable profits,
tripling my account in a year.
In the cryptocurrency world, winning isn’t about being right,
but about surviving.
Follow Uncle Nan, I won’t promise you great wealth, but making steady profits with you is definitely possible!
Hesitation will cause you to miss opportunities, so grab it tightly!
