I remember when I first got into the cryptocurrency space, I spent a few thousand yuan on altcoins, used 3x leverage, and turned it into sixty thousand yuan in a week.

About a month after withdrawing from the exchange, I started to truly understand the cryptocurrency world and realized what contracts were.

After that, I deposited five thousand, shorted the altcoin I bought with 50x leverage, and got liquidated in three seconds. I deposited another five thousand, continued to short with 50x leverage, and after half an hour of holding, I got liquidated again, marking the beginning of my contract trading career.

In the next six months, I lost about two hundred thousand on altcoin contracts. I was glued to the screen in the office every day, neglecting company management. Later, I felt there were too many fake altcoin trends, so I switched to mainstream coins: BTC, SOL, ETH...

I gradually understood that trading should be based on my position, and I must not hold onto losing trades. Setting stop losses is crucial; contracts are suitable for swing trading. If there's profit, I should take it. Holding onto profits just for the sake of it is only a number; gains come with losses. Entering and exiting at the right points is the only way to profit in the long run. Remember, even in a good market, stop losses must not be neglected. Perhaps a stop loss can be painful, but at least there's still a chance. However, forced liquidation leaves no opportunity. There are no perpetual winners in this world, and it’s impossible to profit on every single trade. Developing a habit of taking stop losses will allow you to go further.

The trading market is a process of picking up money; when there’s money on the ground, you pick it up, and when there isn’t, you wait. However, most people don’t understand this principle. Many people lose not because their skills or trading systems are inadequate, but because they lack the patience to endure the waiting process of being flat. What we often refer to as waiting is actually waiting for high-probability opportunities, waiting for your entry signals. If you fantasize about capturing all market movements, the inevitable result will be liquidation. There aren’t that many opportunities to buy, and once you make a mistake, the losses are immeasurable. Opportunities always arise from observation and waiting, and they can vanish in an instant.

The cryptocurrency space seems simple, but it is far from easy when you actually engage in it. Newcomers often cannot discern between genuine and false breakouts, or they may not even wait for a decent retracement. There are many uncertainties in execution, and when facing market movements, one can feel helpless. The key is knowing how to grasp those opportunities that truly meet the standards.

I don’t consider myself a big shot, but occasionally, I will act decisively like someone with execution power.

I share this with everyone today, hoping it can help many crypto friends avoid detours! Let’s get rich together!