Contracts are about betting on size, stop-losses are common, don't stubbornly cling on. After a stop-loss, observe others: some rush to recover their losses and open positions wildly, getting deeper into trouble; others take a break to review and brake in time. Remember: if you lose twice in a row, shut down and stop, don't gamble out of spite.
Don't believe in the myth of getting rich quickly; contracts make slow money. If you lose on one trade, do you want to double down? Ninety percent end in liquidation. The worst is being 'anxious', like running a red light, sooner or later something will go wrong. Be steady, earning 3% daily is better than reckless trading.
If you don't understand the trend, don't act; going with the trend is crucial. If prices are skyrocketing, don’t guess the top to short; if prices are plummeting, don’t try to catch the bottom, that's like resisting the market. Wait until the signals are clear before entering, there's no shame in that.
Calculate before opening a position: can you earn a maximum of 100U, but potentially lose 200U? No matter how tempting, don’t touch it. A minimum gain of 2 with an acceptable loss of 1 is worth pursuing. Don’t think about 'what if I make money', because in contracts, 'what if' often means losing.
Newbies die from being 'too diligent', while seasoned traders win by 'knowing when to be lazy'. If your hands itch to trade every time the market moves, making seven or eight trades a day often just results in paying fees. Remember: 90% of fluctuations are 'noise', big opportunities come once or twice a week. The best skill is patience.
Only earn what you understand. If others make money relying on MACD or trend lines, that’s their skill. Don’t crowd into a market you don’t understand. Practice your own strategy until it's proficient; that’s what matters.
Holding positions may lead to liquidation, especially for newbies, don’t get 'attached'. 'Wait to break even'? Holding from a 5% loss to a 50% liquidation. The stop-loss line is your exit; once it’s hit, cut your losses, don’t hesitate.
Don’t get carried away when making money. Thinking you’re a 'master' after a few wins? Increasing your positions, changing strategies, staying up late to gamble? The market will slap you back. The more you earn, the more you need to follow the rules; getting 'carried away' is the start of losses.
Contracts are about mindset and discipline. The above 8 points, take a glance before opening a position, and avoid pitfalls.
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