Don't be greedy when making money, and don't hesitate when losing! Here are 3 "life and death" rules for contracts 🔥
I want to share some practical experience with contracts that can really help you survive longer in the crypto world.
1. Don't be greedy when you profit; keep your profits safe.
For example, if you buy a certain coin and it goes up by 10%? Be careful! If the price drops back to its original point, sell immediately without hesitation. If you make 20%, set a profit line of "at least 10%" before selling. If it goes up 30%, make sure to at least secure 15% profit before leaving. Don't try to catch every peak; often, profits are already rolling in, and you should be content to hold on to them.
2. Cut losses decisively when you lose.
If you enter a position and lose 15%, cut your losses and get out. Don't think about whether it will "come back up"; that means you've made a judgment error, and mistakes come with costs. Remember, you must set a stop-loss before every trade; this is essential homework. Acknowledge your losses; this is a process, and don't let losses keep expanding.
3. If you sold and it drops, dare to buy back.
If you sold a certain coin and it drops, but you still believe in it, hurry to buy it back. Although this kind of operation incurs more transaction fees, it can prevent the risk of missing opportunities. Remember, if you miss an opportunity, be brave enough to seize it when it comes back, or else you'll just watch others profit. Don't fear the hassle; if it goes back up after selling, just buy it back.
These principles sound simple, but I truly learned these points step by step through hard work in the market. The crypto world doesn't wait for anyone; seize opportunities, act quickly, don't be greedy when you profit, and cut losses immediately when you lose. If you do these right, you can at least survive longer in this market.
The big direction has been given to you; can you keep up? Stay tuned for bull and bear strategies to rise together!
