In 2 days, I made 110,000 with 3,000, I just experienced it!
Let me tell you how I made 110,000 in one night with 3,000.
Strictly speaking, it's 500 U (approximately 3,500).
I did three contracts in total, as follows!
First trade: opened with 60% position (100 times), approximately 30,000 U in holdings, and went long on Ethereum!
Coincidentally, that night there was a sudden piece of information: an American official announced that the probability of the SEC approving the ETF would be raised to 75%. After this stimulus, Ethereum surged nearly 20% in one day.
And I, coincidentally, almost fully participated in this entire wave.
The funds rose from 500 U to nearly 6,000 U.
In the second trade, I opened 50% (100 times) with 6,000 U.
Keep chasing the long position, keep eating, keep being happy and keep having fun!
The next day, it gained nearly 1.5% (4,500 U).
Plus, the principal has already reached nearly 11,000 U.
In the third trade, I made a small coin BB, just at the time of its upward channel, and made a small wave!
Opened a 20% contract (20 times) with 11,000 U, which is nearly 70,000 U in holdings, and gained nearly 5,000 U.
In these three trades, I turned 500 U into 15,000 U.
Alright, back to the point, what conclusion did I reach?
1. There is a saying in the cryptocurrency world: Become a contract trader, fail as a contract trader!
The cryptocurrency world is indeed a place where the poor can create myths, and also a place where many people can clean up overnight!
Contracts are, in my opinion, the area with the highest risk but also the greatest opportunity. If you want to make money in the cryptocurrency world, you must pay attention to the following pieces of advice!
Suggestion 1: Low position and low leverage trading.
The most important thing about contract trading is not how much you earn in one go, but to survive continuously and try to increase your funds like a snowball. You could say, it's definitely easier to trade with over 10,000 U, while below 1,000 U basically belongs to speculation; the range of 1,000 to 10,000 U mainly relies on skill, discipline, and mindset!
Suggestion 1: Low position and low leverage trading.
The most important thing about contract trading is not how much you earn in one go, but to survive continuously and try to increase your funds like a snowball. You could say, it's definitely easier to trade with over 10,000 U, while below 1,000 U basically belongs to speculation; the range of 1,000 to
In the range of 10,000 U, it mainly relies on skill, discipline, and mindset!
Under 1,000 U is not worth mentioning, it all relies on a gamble!
For operations above 3,000 U, my suggestion is to use less than 1/5 of your position and lower than 50 times leverage (for Bitcoin and Ethereum).
This can greatly reduce your risk!
As we all know, the biggest risk in contract trading mainly comes from liquidation, and there are many reasons that can lead to liquidation. One of them is being suddenly pulled up or down without reason; with too little space, it can easily explode. Therefore, it's recommended to maintain an operating space above 5,000 points, so low position and low leverage are very important!
To put it bluntly, the purpose of low position and low leverage is to let you survive; surviving gives you opportunities!
Suggestion 2: The frequency of trading must be low.
The frequency of trading must be low; this is what I regard as the guidebook for trading in the cryptocurrency world. How low should the trading frequency be? Below 2 times a day (if temporarily caught, it may take 2-3 days to trade again). Reducing trading frequency has these benefits;
Benefit 1: Having enough time to analyze and research each trade greatly increases your accuracy; the reality is that many people's first operation each day often has the highest accuracy, while the more times you trade, the easier it is to make mistakes!
Benefit 2: Avoid emotional trading; most cryptocurrency friends suffer not from extreme market conditions, but because if the trading frequency is high and the error rate is high, emotional trading will inevitably be serious, and the last problem always lies in emotions!
Benefit 3: Reduce transaction fees, this goes without saying. In reality, many high-frequency traders lose more money than their transaction fees; of course, this is both yours and not yours!
Suggestion 3: Avoid passionate and emotional trading.
Passionate trading and emotional trading are two types of people who go bankrupt in the cryptocurrency world. One cannot control their hands, while the other cannot control their thoughts!
Emotional trading: unable to control one's thoughts, mainly manifested as mindless resistance and contrary trend trading; to be more specific,
It is that a certain one-sided trend has already formed, and you clearly know this situation, but you are just unwilling to cut your losses and insist stubbornly until liquidation!
I define this as emotional trading, being angry with oneself, always holding onto a glimmer of hope. In reality, the most prone to issues in the cryptocurrency world is to hold onto hope stubbornly!
Therefore, my suggestion is to be decisive!
Do not operate against the trend; when the direction is clear, you must dare to cut your losses; if it's time to leave, then leave, if it's time to stay, then stay. Act decisively, admit mistakes; making mistakes in a certain direction is inevitable, but you can't let mistakes lead to an end—then it really is over!
Suggestion 4: Small coins have extremely high risks.
I don't really recommend playing with small coins; as everyone knows, while small coins can be very exciting, the risks are too high. You can be correct 10 times, but one mistake could lead to your downfall!
Therefore, I personally do not recommend playing with small coins!
