Recently, the cryptocurrency market has been very crazy, which is normal. After all, crypto friends have endured hardships for more than two years; it's time to make some returns. However, at this very moment, ask yourself quietly: have you made a profit?
Isn't it crazy to see so many familiar coins skyrocketing, but you just weren't on the train? Alright, watching the prices surge uncontrollably, you finally couldn't hold back and jumped on board. Trouble came, and you got successfully trapped. You might ask, how do I know this so accurately? Because I have gone through this step by step.
All of this is because you may not know the logic behind the main players' operations: building positions ~ testing the market ~ shaking out weak hands ~ price increases ~ unloading. We must dare to decisively enter the market when the main players start to pull up, (most people are afraid to enter at this time because they can't understand the main players' intentions and mistakenly treat the rise as unloading). We should leave the market together with the main players during the unloading phase. If you see this and think I'm talking nonsense, it indicates that your trading knowledge might really be lacking. Anyone with even a bit of trading foundation will understand what I'm saying!
However, in this response, I mainly discuss contracts. The things mentioned above are useful for spot trading but not very significant for contracts. In contract trading, you can participate in both the price increase and the sell-off. So what are the core matters in contract trading? In other words, what central purpose should we focus on when trading contracts? Some might say that's obvious; isn't it to make money from contracts?
Wrong! Completely wrong! In my opinion, the process of trading contracts is fundamentally about preserving your capital. Think about it: all actions you take when trading contracts, like selecting entry points, choosing low leverage, setting stop-losses, and managing positions, are all aimed at protecting your capital, right?
Yes, the core work of trading contracts is to protect your capital, making profits comes second. Therefore, in this update, I want to mention a point: when you start floating profits after opening a position and the price is far from the cost price, you must set the stop-loss at the cost price (you can also adjust a bit in the direction of floating profits, specifically based on support and resistance levels). The logic behind this is that as long as you don't hurt your capital, let it go. If you encounter a big cycle of profit, then you will earn well. But if you encounter a sharp price fluctuation, your capital is still there, and after the price fluctuation subsides, you can continue to open positions. I am currently organizing my trading experiences, and I have compiled over 50 points so far. Follow me; there will be plenty of valuable content, and I will gradually update everything. These are all insights I have summarized step by step during my trading process, and I will slowly share them with everyone.
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