How can I achieve stable income in this contract market?
1. The mindset must be stable. When I first entered the contract trading, I divided 10,000 into 5 parts, each part 2,000 R. I operated one part each time. At the lowest point, I lost 4 parts and told myself that if the fifth part was lost, I would stop trading. The last part must be played cautiously.
2. Summarize experiences. From the four parts I lost at the beginning, my personal experience is to never be greedy. This is an old saying. The first time I saw the contract cryptocurrency I bought increase by 5 times, I was reluctant to sell it, and the next day it plummeted and was forcibly liquidated... regretting my greed...
3. Learn to take profits and stop losses in a timely manner. Set a target. I usually select two cryptocurrencies to trade from popular sectors or the top 10 by trading volume, generally aiming for a 5%-8% drop from the value at 10 o'clock that day to go long, and I withdraw when it doubles.
4. Reserve sufficient margin. Contract trading can lead to losses, so please ensure to reserve enough margin. I typically reserve 1/3 of the margin to withstand some small waves.
5. Lastly, I generally take 3/5 of the money I earn from contract trading to buy spot platform tokens or other mainstream coins, and the remaining continues to be invested in contracts. Buying platform tokens is to increase my risk resistance.
In summary, for those with courage and strategy, nothing is impossible in the cryptocurrency world. From beginners to experts, everyone can write their own legend. Of course, behind the legend lies rational strategies and strict discipline—harboring dreams, being down-to-earth, making good use of tools, controlling risks strictly, and with a bit of luck, ordinary people also have the opportunity to stand out in contract trading and create amazing profits. The door of opportunity is always open for those who dare to dream and strive. The ultimate definition of a winner in the cryptocurrency world is not only making a fortune in the exchange but also turning paper profits into cash in hand, fully embracing the life of their dreams!
Avoid emotional trading; calm analysis is needed at all times. The market always has opportunities, and capital safety is the top priority.