Hello everyone, as someone who has been in the contract market for two years, today I want to share some of my contract trading experiences with you. I hope these insights can help those who are just starting out or feeling confused. The contract market is a place of intense volatility, suitable for investors who enjoy challenges and can bear risks. To achieve stable profits in this market, it requires not only luck but also strategy and mindset management.
1. Stop Loss/Take Profit: I usually set my stop loss and take profit points when opening a position, which helps avoid decision-making errors caused by losing control of emotions.
2. Reasonable Use of Leverage: Leverage can amplify profits, but it also amplifies risks. I generally choose a leverage of 2-5 times, and only opt for higher leverage when I am very confident.
3. Position Control: The proportion of funds used in each trade should not exceed 10% of the total account balance. This practice helps to avoid liquidation in case of consecutive losses.#BinanceTurns8