If you must trade contracts, remember the following points! They are crucial!
1. Trading contracts is about risking a little to gain a lot; experiencing losses is normal. However, after hitting the stop loss, two types of people emerge: some will go on a buying spree, while others will enter a cooling-off period.
My advice is that if you frequently hit stop losses, you should calm down, temporarily stop trading, and adjust your strategy.
2. Don't rush to achieve results; trading is not a means to get rich overnight. When facing losses, maintain a calm mindset, avoid rushing to open positions, and definitely do not go all-in.
3. It is important to recognize the major trend. When you see a one-sided market, you should go with the trend and not trade against it. Trading against the trend is the root of losses, and both beginners and seasoned traders can fall into the habit of trading against the trend. However, once a market trend is established, trading against it can lead to severe consequences, so we must learn to go with the flow and patiently wait for opportunities before taking action.
4. Make sure to manage your risk-reward ratio; otherwise, it will be hard to make money. Let profits be as large as possible compared to losses, and you should at least aim for a 2:1 ratio before considering opening a position.
5. Frequent trading is a major taboo in contracts. If you are not an expert in contracts, you must control the impulse to open positions blindly, especially as a beginner. New players are often filled with enthusiasm for the market and want to seize every opportunity, but most so-called opportunities will lead to losses.
6. Only earn money within your understanding; this is very important.
7. Do not hold onto positions; holding onto contracts is a major taboo, especially for beginners. You must set stop losses. Holding onto positions is the beginning of a downward spiral, and I remind you again, do not hold onto positions.
8. Do not get carried away when in profit; getting carried away will surely lead to losses.
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