The number of people playing contracts is increasing at a visible speed; making money has become difficult, as everyone is gambling in contracts. The last bear market was the same; after Huobi launched contracts at the end of 2019, almost the entire population started playing contracts, and those who didn't seemed out of touch. The result was that on March 12, everyone was wiped out. For those worried about losing control, Binance contracts have a cooling-off period setting, which lasts up to a month and can be renewed upon expiration. Recently, I met a big player who challenged himself from 2000 to 20,000 in just 5 days; it's really impressive. I asked him, you're so amazing, you must be free now, why are you still working hard in this circle? He said that today's expertise comes from past experiences of liquidation; he had debts of several million before and relied on other means to recover. It's impossible to achieve financial freedom solely through contracts. If even the big players say this, how can ordinary people make money playing contracts? I would like to share some of the experiences from the big players with everyone.
1. Set a stop-loss when opening a position.
2. Don't get too excited; as long as your principal is there, there is still a chance.
3. Don't play too diversely; don't just buy this coin because it went up, and buy that coin because it went up too. Focus on mainstream coins.