Today, let's reveal four unknown trading tips in the cryptocurrency circle to help you avoid detours on the road to trading!
1. Imagine that you buy 10,000 U of a certain currency when it is 10U. When it drops to 5U, you buy another 10,000 U. Your average cost is actually 6.67U, not 7.5U as you imagined. This is the magic of flattening costs!
2. If you earn a stable profit of 1% every day, based on 250 trading days per year, your assets will double to 1.3232 million in one year, and you will make 10 million in two years. Doesn't it sound tempting?
3. Assuming that your investment winning rate is 60%, invest 100 times in a row, set a 10% take profit and stop loss, and your final rate of return can reach an astonishing 300%!
4. Start with 10,000 U, and make a profit of 10% each time. By the 49th day, your assets can reach 1 million U, 73 days to 10 million U, and 97 days to break 100 million. But remember, this requires extremely high discipline and control.
But in reality, there are very few people who can do this, because the biggest enemy is actually our inner greed.
Let's not talk about spot trading for now, today we focus on contract trading.
For contract trading, you must have your own position management and capital management strategy. Position management and capital management sound simple, but for novices, it is easy to take risks with 20%-30% of the principal.
My personal habit is to use only 2%-5% of the principal as the basic position, and control the leverage within 20 times. Those who use 100 times or 125 times leverage at will are playing with fire.
Whether it is futures, stocks or currency contracts, trading is a contest of human nature. Leverage will magnify your greed, and if you can't control it, you will eventually be swallowed by it.
Therefore, good capital management and position management are the key to long-term profitability. After reading this, I hope you can gain something.
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Follow the devil if you like spot or contract.
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