What are your effective contract trading strategies?
Let’s talk about my contract trading experiences. Honestly, strategies are secondary; the hardest part is controlling your hands and mindset. This is just like playing a game: it's easy to spend money, but hard to level up. It took me two whole years to really make money in the crypto world. Back in 2018, when I first started trading contracts, I was quite stubborn and used my salary to trade aggressively. I lost over 80 in half a year. During that time, I felt completely down; the worst part wasn't losing money, but that feeling of being constantly pressed down by the market.
Later, I gradually found my way, especially as I became more familiar with Ethereum, just like a seasoned driver knows their car. The bull market in 2020 was a turning point for me; that wave of market movement not only allowed me to break even but also earn an additional 800,000 dollars. Now my approach is quite simple: with a principal of 30,000 dollars, I withdraw profits when I double it and stop trading if I face liquidation, never getting emotionally attached to trades. Day trading is my bottom line; I wrap up at the scheduled time, not holding positions overnight even if the sky falls. Only after doing trading full-time do I understand that the market is a large human behavior laboratory. If you see the right move, don’t get cocky; if you see the wrong move, don’t stubbornly hold on. The market is always right; the wrong one can only be your position. The scariest thing is to lose consecutively and then get overzealous; that’s when it’s easiest to go all in and lose everything.
Remember, trading is just an action; don’t fall in love with your positions. Finding your own rhythm is particularly important, just like having a feel for the ball in sports; when it’s going well, everything you throw will score. I’ve been in the crypto space for over five years now. I’ve made some money, but what I cherish more is that this experience has taught me to maintain a calm mindset. The market will always be there, but life is much more important than candlestick charts.
