Recently, many people have mentioned that when they first start, they don't know how to operate.
If the incoming funds are just under 1000u, and you ask me for good strategies, today I will share my advice. For instance, if you have 1000u, divide it into 10 parts and invest 100u each time, with a recommended leverage of 20X. Newbies find it hard to control their mindset with too high a multiple. Leave the remaining 900u in a wealth management account. If you lose the 100u, you must not think about adding to the position. If you lose everything, the first thing you need to do is reflect and summarize, then take a 1-2 day break. Don't be afraid of missing out; the cryptocurrency market is always volatile. There are large fluctuations every month, and opportunities depend on your luck. Once adjusted, if you divide the remaining 900u by 10, it becomes 90u per part, and you invest it again, but be careful this time to try to earn back the money. If you make 300u this time, keep 100u and transfer out the remaining 200u, then you will feel more secure, and your mindset will improve significantly. Never invest everything; if a black swan event occurs, you could lose it all at once and have to start over. Objectively speaking, for contract trading, always start with 10X. If you go the wrong direction and it drops 10%, you will be liquidated. Even for Bitcoin, a 20% fluctuation in a year is very normal. If you are fully invested every time, then no matter how much you earn before, it all becomes meaningless and will eventually return to zero. Walking along the river often, no one can guarantee that every time will be right. A proficient trader with a 60% success rate is already impressive. Therefore, position management is very important. Even with a 90% win rate, one mistake can lead to irreversible consequences.
Learn trading knowledge, implement light positions, and reduce losses. Most people lose money in trading because they lack understanding of the market and do not know how to control positions and manage risks. Therefore, avoid increasing positions when feeling unwell, and instead reduce or close positions. If losses exceed 2% of total funds in a single day, it's time to be alert. If losses reach 6%, close all losing contracts, and after setting a breakeven price for profitable contracts, take at least 2-3 days off. Chasing price increases is dangerous; do not blindly chase unless market conditions are clear. Be cautious when increasing positions after profits, especially after significant gains, as new positions often lead to failure. If you need to increase positions, either act immediately or wait for a significant pullback to finish, following the pyramid method for position scaling. Once margin profits exceed 200%, set 40% retracement take profits for half, and set breakeven price take profits for the other half. This is to protect profits and ensure that significant gains do not turn into losses. Never trade when feeling down, depressed, or troubled in life. If there are overall losses in the past 24 hours, take 2-3 days off. Never trade against the trend; reduce trading frequency and look for suitable entry opportunities. For correct trades, because correct decisions can continuously yield profits.
In the cryptocurrency investment community, whether a novice or an expert, what I gain here is not just financial returns, but also growth in investment knowledge and experience.
