Mindset Control in the Cryptocurrency World

1. Do not judge success or failure by a single trade; do not excessively dwell on the gains or losses of one trade. Stay firm and open-minded.

2. In the adult world, once a purchase is made, it is recognized upon closing a position. There are no assumptions in cryptocurrency, no 'what ifs,' and no regrets.

3. Trade with a plan and remain calm in a crisis.

4. Plan your stop-loss and take-profit levels before placing an order, and strictly adhere to your plan without harboring any lucky thoughts.

5. Strict position control is essential; profits and losses in cryptocurrency can fluctuate. Do not easily deprive yourself of the chance to recover. Moreover, holding a heavy position can easily cloud your judgment and emotions, causing you to miss profits and push you to resist closing positions, as you may find it hard to accept a stop-loss on a heavy position, which often leads to liquidation.

6. Do not stubbornly resist the market; it is not something we can conquer with willpower and determination. Timely stop-loss is the best protection for your capital. Even if you have enough margin, holding onto a losing position may cause you to miss out on more profitable trades and make it easier for your emotions to spiral out of control, leading to poor decisions or subjective judgments influenced by personal emotions.

7. Remember, never let trading in cryptocurrency affect your normal work and life. Whether trading contracts or spot, it inherently carries risks, so it should be based on a certain economic foundation and time commitment. If you do not have enough economic backing but have some spare time, it's fine to invest a little pocket money or spare cash to experience it. At the same time, whether in spot trading or contracts, there is no guarantee of profit when trading cryptocurrencies. Many people enter the crypto world after hearing stories of thousandfold returns; indeed, there are many cryptocurrencies that can yield such returns. Many people who achieve thousandfold profits do so with spare cash, and often they forget about these investments after making them, which is why they can reap such large profits.

Trading cryptocurrencies carries risks; enter the market with caution. While we see high returns in the cryptocurrency world, we must also recognize the high-risk aspect. Rationally distinguish between investment coins and speculative coins, and approach the market and your capital with reason.