Choice is greater than effort ◇ Direction is more important than position! If you want to be smart, you should associate with smart people; you will become wiser. If you want to excel, you should be with outstanding people; you will stand out. Reading good books and associating with great people are two major fortunes in life. How to become a master in contract trading?
First, you must have the patience to wait.
Currently, all contract varieties on exchanges have the characteristic of two-way trading. The market can remain stagnant for a long time, but once it moves, it can be shocking. Sometimes what was a peak immediately becomes a bottom, and vice versa. This requires us to learn to wait, to wait for trends to emerge, and to wait for opportunities to place assured orders. Try not to rush into making orders; watch more and act less. Opportunities are cultivated through learning to wait. Second, learn to endure, avoid greed and impatience.
Stop always thinking about buying at the lowest point and selling at the highest. This mindset is more likely to lead to losses. Also, don’t jump into the market just because it rises or falls a little. To grow from a novice to a skilled contract trader, you must endure the loneliness of being out of the market, restrain yourself, and enter the market according to your trading plan. Third, stability is required.
Investing is not gambling; you cannot rely on subjective assumptions like 'it should be rising soon,' 'it’s probably about to fall,' or 'it will definitely rise/fall significantly tomorrow,' etc. Instead, you need a certain level of certainty. You must be steady; if you do not enter the market, then you should not, but once you do, you should have a significant opportunity to make a profit, and then take profits at your target price to preserve your gains.
Fourth, accuracy is required.
Accuracy, in other words, means having a high win rate. Those with a high win rate are necessarily skilled individuals who can survive in the contract market, rather than those who go back and forth between losing and gaining. So how can one achieve accuracy? As long as you can be 'patient', 'endure', and 'steady', then you have achieved accuracy.
Fifth, you must be tough on yourself.
First, one must be strict with stop-loss measures. The 'waiting' mentioned earlier refers to waiting for order opportunities, not waiting for a chance to break even after making a wrong decision. In any market, a qualified contract investor or trader must strictly adhere to stop-loss measures. Failing to maintain this habit will ultimately lead to greater losses, leaving you unable to recover. Having the determination to cut losses is essential for survival, and then reflecting on why you placed an order at that position, whether your reasoning was inadequate, and why you got stuck at that position.
The second key is to recognize opportunities, to dare to place large orders without hesitation, and to set profit-taking and stop-loss measures. However, this should not be done blindly without a solid foundation and careful consideration.
The market changes rapidly, and staying updated is crucial. The rule remains that those who can buy are the learners, and those who can sell are the masters. Regardless of whether you are making profits or losses, you must minimize losses and maximize profits. If you can't achieve this, then you are just struggling in the crypto world alongside Cupid. Additionally, when trading, it is essential to have logic, as this will improve your accuracy, and a good mindset is indispensable.
