If you are in a losing position in trading, then you need to read this article carefully and please adhere to the following points.

Make sure you can achieve profit.

The following points are very important.

One, learn to take profits and cut losses.

This has been said many times: the market changes rapidly. You must learn this, and it's not as difficult as it sounds. Taking profit is about controlling your greed. A coin will not rise endlessly, nor will it fall indefinitely; it all goes in cycles. Therefore, taking profit becomes especially important. Don’t say you exited a position too early and missed out on later profits. Remember, you can never make all the money in the crypto world, but you can lose all the money in your account.

Stop-loss is about giving up sunk costs, which is also very difficult. Do you think that if you hold on to a position for a bit, it will reverse? Never think like that. If you're wrong, you're wrong; you have to acknowledge it. Stand tall when taking hits. Although it hurts to seek survival by cutting off an arm, it can truly save your life.

Let me reiterate: ensure you have sufficient tolerance for error when opening a position. The direction might be correct, but if your volatility tolerance is too low, you could easily be thrown off.

Two, don’t trade frequently.

A big taboo: are you always thinking about making money on both sides? Wake up! Very few people can do that. Be content if you can profit from one side. Another point is transaction fees; it's manageable with low leverage, but it becomes painful with high leverage. You will lose 1-2 percentage points in profit as soon as you open a position, so you must ensure this trade can make money; otherwise, it's meaningless.

Three, learn to hold cash.

When you don't understand the market, don’t open a position. At this point, you might say it’s frustrating to miss an opportunity. So let me ask you: is it more frustrating to miss out or to incur losses? Opening a position without understanding the market is no different from gambling.

Trading is about having a probability advantage. No one can accurately predict whether the market will rise or fall; it changes too quickly. You can only say there’s a high probability it will rise or fall.

As a side note, the top two exchanges now have a copy trading section. If you're not confident in opening a position or often misjudge the direction, you can try the copy trading section. Choosing the right trader is also very important.

Four, take it step by step.

Don’t think you can become a big shot overnight; this is something that takes time.

The crypto world won't make you rich overnight. For example, if you start with 100 and go long with 10x leverage, your position is 1000. If it rises by one point, you make 10 dollars; if it rises by two points, you get 20 in hand. That’s enough for a breakfast. Nowadays, working in a factory pays 15 dollars an hour. If you can open three or four trades a day with a win rate of 60-70%, it’s more comfortable than working in a factory.

Five, never go all-in with high leverage.

Don’t go all-in with high leverage. If something unexpected happens, it’s over. It might have been rising as expected, but a sudden major news can cause an immediate reversal, and if you haven’t set a stop-loss, it’s disastrous.

You must remain rational; don't get overly excited, especially after a liquidation. (This is the consequence of not setting stop-losses: liquidation, leading to a series of chain reactions, making stop-losses extremely important.)

At this time, you really want to break even; you must remain rational and maintain the upper hand. If you are afraid you can't control yourself, you can open a cooling-off period for the contract.

Don’t think that by opening a contract cooling-off period, you missed this market trend. The crypto world is full of trends and opportunities; they are always there and will be for at least the next 10 to 20 years.

Six, you must know and act as one.

This point is indeed quite difficult. Even I can't fully achieve this at times. Human weaknesses are hard to grasp.

I will update if I think of other points later.

I was once a newbie too and didn’t understand these basic issues. I opened positions randomly without a plan. After being in the industry for a while, I realized that the crypto world can really change your fate.

If you want to grasp this bull market, learning on the go will definitely be too late. It's best if someone can guide you to get up to speed quickly.

We are mainly a blogger focused on freshness.

It's better to teach a person to fish than to give them a fish.

Crypto investors, whether beginners or experts, gain not only financial returns but also growth in investment knowledge and experience from me.

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