#MyFirstSquarePost Newbie Report, Let's Chat!
1️⃣ With limited funds, how to make big money
Players with limited funds must play contracts and use spare money that does not affect their daily lives, for example, with a monthly salary of 10,000, play with 1,000 RMB, using 10x leverage, treating it as 10,000, earning 10% doubles the amount. Then with 2,000 at the same 10x leverage, earning another 10%, the funds double again to 4,000. If you keep doing it right at 5x, the funds will reach 32,000, and after 10 successful trades, the funds will reach 1.024 million.
Of course, it is also possible to be liquidated, in which case you lose 1,000 RMB, reinvest 1,000 RMB, and repeat the above operation.
2️⃣ How to play in the current market
Play with coins ranked in the top 5 by market value, which are not easily manipulated by big players, making it safer.
The current market is still in a downtrend 📉, and you should not go long; you can short with leverage below 5x.
3️⃣ Review (Risk Control)
May 19, 2021, was the most brutal day I've seen in my 6 years of trading.
Besides BTC, other cryptocurrencies dropped by nearly 50%, even exceeding 50%. Most long positions with leverage and without stop-loss settings were liquidated. The drop happened so quickly that there was no time to react, and the platform's server overload made operations very difficult.
For those who bought in too early, when it dropped to 50%, they could only be slaughtered because they had no bullets left. It is crucial to place limit orders, which can be set 40%-50% lower than the opening price. When a spike occurs and you can't react in time, you can pick up bargains. Similarly, you can place limit orders at higher prices, such as 30% above the opening price.
For spikes, it is likely due to a batch of long positions being liquidated; 20x leverage gets liquidated first, and when it drops to 5%, the platform forcibly closes positions, quickly forming shorts. Next, positions with 10x, 5x, and 3x leverage are all passively turned into shorts. Coupled with existing shorts, the destructive power is enormous. When the liquidation reaches a point where no more shorts can be created, some long positions that bought the dip can easily drive up the price, with retracements of 10%, 20%, or 30%.
1️⃣ With limited funds, how to make big money
Players with limited funds must play contracts and use spare money that does not affect their daily lives, for example, with a monthly salary of 10,000, play with 1,000 RMB, using 10x leverage, treating it as 10,000, earning 10% doubles the amount. Then with 2,000 at the same 10x leverage, earning another 10%, the funds double again to 4,000. If you keep doing it right at 5x, the funds will reach 32,000, and after 10 successful trades, the funds will reach 1.024 million.
Of course, it is also possible to be liquidated, in which case you lose 1,000 RMB, reinvest 1,000 RMB, and repeat the above operation.
2️⃣ How to play in the current market
Play with coins ranked in the top 5 by market value, which are not easily manipulated by big players, making it safer.
The current market is still in a downtrend 📉, and you should not go long; you can short with leverage below 5x.
3️⃣ Review (Risk Control)
May 19, 2021, was the most brutal day I've seen in my 6 years of trading.
Besides BTC, other cryptocurrencies dropped by nearly 50%, even exceeding 50%. Most long positions with leverage and without stop-loss settings were liquidated. The drop happened so quickly that there was no time to react, and the platform's server overload made operations very difficult.
For those who bought in too early, when it dropped to 50%, they could only be slaughtered because they had no bullets left. It is crucial to place limit orders, which can be set 40%-50% lower than the opening price. When a spike occurs and you can't react in time, you can pick up bargains. Similarly, you can place limit orders at higher prices, such as 30% above the opening price.
For spikes, it is likely due to a batch of long positions being liquidated; 20x leverage gets liquidated first, and when it drops to 5%, the platform forcibly closes positions, quickly forming shorts. Next, positions with 10x, 5x, and 3x leverage are all passively turned into shorts. Coupled with existing shorts, the destructive power is enormous. When the liquidation reaches a point where no more shorts can be created, some long positions that bought the dip can easily drive up the price, with retracements of 10%, 20%, or 30%.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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