I used to lose sleep over contracts until I figured these things out, and now I'm slowly recovering; stable profits are really sweet ~ Newcomers quickly note down these valuable tips!
❌ Don't directly confront the market! If you haven't managed your take-profit and stop-loss well, no matter how much you earn, it can all be given back. Greed is not acceptable; the price of coins won't keep rising, it's best to take profits, and securing what you have is the way to go; stop-loss must be strict, admit when you're wrong, holding onto a losing position will only deplete your capital. Cutting losses to survive at least allows you to keep your principal for the next wave.
❌ Don't be a 'single addiction patient', frequent trading will really make you cry. Don't fantasize about profiting from both sides; ordinary people are doing well to catch one side of the market. High leverage fees are very painful, starting with a loss of 1-2 points, the profit may not even be enough to pay the platform, it's unnecessary.
❌ Don't open positions blindly if you can't understand the market? That's no different from gambling. Missing out is better than losing everything; when the market is chaotic, decisively go to cash, preserving your principal is the most important. Trading relies on probability; no one can predict price movements 100%, don't gamble with your hard-earned money.
❌ Don't think you can get rich quickly; take it slow instead to earn steadily. With a capital of 100, opening 10 times leverage, a 1-point increase earns 10, and two points are enough for breakfast. Opening a few positions every day, maintaining a win rate of over 60%, isn't that better than working? Getting rich quickly in crypto isn't possible; steady and solid steps can take you far.
❌ Heavy investment and all-in is just seeking one's own death, light investment is the way to go. How many people have fallen because of 'a gamble'? The market clearly moves as expected, but a sudden piece of news can reverse everything. If you haven't set a stop-loss, just thinking about it is frightening. The crypto world has many opportunities, and only light investment can help you survive longer, keeping your principal allows you to wait for a big market.
Lastly, I want to say that knowing is easy, but doing is truly difficult! Everyone has human weaknesses, but only those who can control themselves can make money in the crypto world. Mindset, courage, decisiveness—lacking any one of these makes it hard to succeed.
I hope the brothers and sisters who see this can take fewer detours and gradually get rich together in the crypto world 💰