Just do intraday swings, don’t hold overnight, don’t hold overnight, don’t hold overnight; it’s important to say it three times.
There is a process to it; losing money is also a part of making money. You must find your own trading rhythm. First, hone your market intuition, then find your trading rhythm, and finally establish your trading system and execute it daily. In the long run, there will definitely be positive returns.
Remember, this is a cannibalistic market, and also a market for creating myths. This is a paradise for speculators and a hell for gamblers. The 24/7 trading hours can be addictive, and the 100x leverage can drive people crazy. I have experienced a night of 15 times profit and also a loss of 40,000 USDT. Looking back, only I understand the hardships involved.
This path is not easy to walk, and persisting may not yield rewards, but once there are results, you will find that the previous perseverance is worth it. I only share my experiences as someone who has been through it, to encourage everyone and to continue motivating myself to move forward.
I got into the cryptocurrency world in 2015 and started doing contracts in 2018. I was still too young then, relying on my years of experience in stock index futures and 50ETF options, thinking trading in the contract market was more free and could make money year-round without breaks. But reality was cruel; in the first half of the year, I almost blew up my account every month, very punctually, and I hardly slept well, my mental state was very poor, and I lost 15 kilograms.
It was about half a year; over 800,000 disappeared. During my most confused and helpless times, a phrase kept motivating me: the past cannot be retrieved, but the future can be changed. That time was truly difficult, with external pressure from family and internal self-denial, living every day in a deadlock I couldn't escape.
However, the tuition of more than half a year taught me two things: First, contracts can indeed make you rich quickly. If I had done the opposite, I would have earned 120,000 USDT in this short half year, which is much better than working. Second, always control risks; there can be no luck mentality. Holding positions against the trend and heavy trading are key to accelerating liquidation.
In the end, I stopped all trading and gave myself a good break for more than a month. Afterwards, I only engaged in contract trading and refined my trading system. Over a year, I experienced bursts of profits and losses, and liquidation, but I gradually developed my market intuition regarding Bitcoin and Ethereum's trends and was better able to control my emotions.
After that, I gradually recharged my cryptocurrency for trading, controlling my emotions, especially when transitioning from profitable trades to losing trades, which is the easiest way to get carried away. Perhaps it was heaven's favor; in 2020, with Ethereum's significant rise, I gradually began to stabilize my profits and started trading full-time. I summarized and reviewed daily, only doing intraday swings, resolutely avoiding overnight positions, controlling risks. It was in this year that I made back all my previous losses and even had some savings. Up to now, trading continues, and there are still profits, but my mindset has changed; I have become indifferent to many things, but I love life more and enjoy simplicity.
The market is warming up, and assets are soaring! Follow Brother Cheng to layout in advance and enjoy the dividends.
Continue to pay attention to: DIA, CFX
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