Pay attention to controlling the leverage of the contract, and don’t use large amounts of money to play. Since you have chosen to play with contracts, it's likely that warnings about risks won't be heeded, so you should try to choose lower leverage. It’s not that contracts are bad; high leverage means your ability to bear risks will drastically decrease. If you choose to play with a maximum leverage of 250 times, a small fluctuation on the intraday chart could lead to liquidation, which is no different from gambling. Therefore, when trading contracts, leverage should not be too high. One advantage of contracts is that you can turn a small investment into a large one, potentially increasing your principal several times, even hundreds of times, within a few days. The key to successful contracts lies in the entry position and direction. First, the overall direction must be correct; you can't short in an uptrend or go long in a downtrend. Second, not only must the direction be assessed correctly, but the entry position is also very important. Try to enter at the retracement level within the correct trend on a larger scale. Personally, I generally judge the larger trend based on the daily candlestick chart and enter during retracements on the 30-minute candlestick chart. After setting a stop-loss, I typically do not make further operations, and I usually set a profit-loss ratio of about 1:5. When the profits are substantial enough, I will close half of the position and let the remaining profits run. So if you must trade contracts, it's advisable to use small idle funds for a gamble; that way, even if you lose it all, it won't be a big deal. Also, avoid choosing obscure and low market-cap coins. For example, I usually choose more popular coins with high trading volumes when trading contracts, like BTC, with leverage generally between 15 to 25 times; this way, you won't be liquidated by a single fluctuation from the main force. When you don't have time to keep an eye on the market (at night or when you have matters to attend to), be sure to set a protective stop-loss and avoid trying to catch the top or bottom.
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