How to make money after a contract blowup?

After a contract blowup, the process of making money again requires patience, planning and a sound strategy. Here are some practical suggestions to help you gradually recover your financial situation:

1. Adjust your mindset and avoid impulsive trading

• Fix your mindset first: The volatility of the financial market is extremely high, and it is easy to make wrong decisions when your mindset is unstable. Give yourself enough time to adjust, and don't rush into retaliatory trading.

• Reflect on lessons learned: Analyze your past trading strategies and find out the reasons for the blowup. Is it excessive leverage? Or improper position management? Learn from experience and avoid making similar mistakes again.

2. Manage your finances prudently and reduce risks

• Reduce leverage ratio: Although high leverage can bring high returns, it also brings huge risks. When starting over, try to use low leverage and control your positions.

• Diversify your investments: Don't put all your funds in high-risk contract transactions. You can try other more stable investments, such as spot trading, time deposits, low-risk stock funds, etc.

3. Accumulate more knowledge and skills

• Strengthen learning: read market-related books, pay attention to market analysis, and participate in professional trading training courses. Understand the knowledge of technical analysis, market psychology, and risk control to improve your trading ability.

4. Expand income sources

• Find a side job: In addition to trading, you can consider increasing your income source through a side job or part-time job. This helps reduce dependence on trading income and reduce financial pressure.

• Start a business or invest: If you have the ability, you can consider starting a small side job or investing in some low-risk entrepreneurial projects. Diversified income channels can provide financial security.

5. Long-term planning

• Set reasonable financial goals: Don't rush to make back all losses in the short term, set long-term, achievable financial goals, and achieve them step by step.

• Build emergency funds: Be prepared for possible market fluctuations in the future, maintain a certain amount of cash reserves in case of emergency, and avoid facing high-risk situations again.