Why do many people say that contracts cannot be played?
In fact, there are many people in the cryptocurrency world who are not suitable for trading contracts. To put it bluntly, they are just giving away money.
First, the understanding is lacking. Many people just think about getting rich quickly, going all in right away, or they think about making a little money every day by trading in and out quickly. Those with this mindset will ultimately lose everything.
Second, the technical skills are lacking. Some people think that technical indicators are useless, but the difference between knowing how to use them and not knowing is huge. For those who don't understand the technology, trading contracts is pure gambling; whether to go long or short, the odds of winning are just 50/50.
Third, the mindset is lacking. After opening a position, their eyes are glued to the charts, wishing there were 30 hours in a day. When the price drops a little, they want to stop-loss; they think about it but dare not act, so they just hold on until liquidation.
When the price rises a little, they can't hold on, always thinking about what to do if it retraces or if they incur a loss; they just lack patience.
Fourth, the execution ability is lacking. They open positions randomly without meeting the conditions of technical indicators, and they close positions before reaching the stop-loss or take-profit points. Doing this will surely lead to more losses than gains. Fifth, the strategy is wrong. When trading contracts, one cannot always think about getting rich overnight, nor can one engage in quick trades. One must focus on trend trading, understand the larger trend, divide the capital into 2-3 parts, and place orders with larger positions. Set up take-profit and stop-loss levels, then uninstall the software and stop staring at it.
In the cryptocurrency world, choice is greater than effort! Follow the right people, and making money will come naturally!
