You may not understand contracts at all. Must-read filled with practical information 🔥 If you are in a losing position with contracts and want to turn losses into profits, then you need to read this article carefully. Following the points below can help you make a profit.

1: Learn to take profits and cut losses

The market changes rapidly, so you must learn to take profits and cut losses. This isn't too difficult; taking profits controls your greed. A cryptocurrency won't rise indefinitely, nor will it keep falling; there's a cycle. Therefore, taking profits becomes especially important. Don’t always worry about closing too early and missing out on future profits! You must remember that the money in the crypto circle is never-ending, but the money in your account can be lost completely.

Cutting losses means giving up sunk costs, which is also challenging. Don't always think that holding a position will result in a market reversal in the next second. Never think like that. If you're wrong, you're wrong; you have to admit it. If you're taking hits, stand tall. Losing an arm to survive may hurt, but it can save your life.

2: Do not trade frequently

It's a big taboo; don’t always think about making money on both sides. Wake up; not many people can achieve that. Be satisfied if you can profit from one side. Another point is transaction fees; it's manageable with low leverage but painful with high leverage. The moment you open a position, you lose 1-2% of your profit. You need to ensure that this trade can make money; otherwise, it’s meaningless, and all your earnings go to the market makers as fees!

3: Learn to stay in cash

When you don’t understand the market, don’t blindly open positions. You might say that missing out on a market movement is painful. So let me ask you: is missing out painful or is losing money painful? Blindly opening positions without understanding the market and failing to grasp the direction is no different from gambling! Trading is about having a probability advantage; no one can accurately predict whether the market will rise or fall. The market changes too quickly; you can only say that it is highly likely to rise or fall.

4: Never go all-in with heavy positions

Absolutely do not go all-in with heavy positions. If something unexpected happens, you could lose everything. For example, if the market rises as expected, but then a significant piece of news suddenly causes a sharp downturn, and you haven't set a stop-loss, then you're done!

After being in the industry for a long time, you will realize that the crypto world can truly change your fate! The prerequisite is that you must have a mindset that far exceeds others, the courage to take risks, the decisiveness to cut losses in time, and the determination to fight for survival! Otherwise, you will never become one of that 1% destined for greatness!