How can a beginner in the cryptocurrency market make continuous profits with contracts?

1. Have patience

Currently, the varieties of contracts on exchanges have the characteristic of two-way trading. The market can remain stagnant for a long time, but once it moves, it can be shocking. Sometimes the current peak can immediately break and become a bottom, and vice versa. Therefore, we need to learn to wait, wait for trends to develop, and wait for opportunities to make confident trades. Try not to rush into placing orders; observe more and act less. Opportunities come from learning to wait.

2. Don't be greedy or impulsive

Don’t always think about buying at the lowest point and selling at the highest. This mindset is more likely to lead to losses. Also, don’t jump into the market just because the price has risen or fallen a little. To grow from a beginner to a skilled contract trader, you must endure the loneliness of holding a position without entering the market, restrain yourself, and stick to your trading plan.

3. Investing is not gambling; you cannot rely on subjective impressions like 'it should go up soon', 'it is probably going to drop', or 'it will definitely surge/drop tomorrow', etc. Instead, you need to have a certain level of confidence and be steady. You should aim to not enter the market at all if there is no opportunity; when you do enter, you should have a considerable chance of making a profit, then take profits at your target price to secure your gains. To survive in the contract market, you must understand one principle— the market is always right; following the trend is the supreme rule. Seek stability and follow the trend; if the situation changes, run; when it's time to cut losses, do so. When placing orders, think 'making a profit is expected; losses are exceptions'. As long as you can make profits, don’t aim to capture everything; even if you earn very little in a day, it can accumulate over time.

4. Timely stop losses and take profits

First. You must be strict with stop losses. The waiting mentioned earlier refers to waiting for the right moment to place orders, not waiting for a wrong order to break even. Regardless of the market, a qualified contract investor or trader must strictly enforce stop losses. Developing a habit of not stopping losses will inevitably lead to greater losses one day, leaving you unable to recover. The second aspect is to seize opportunities and dare to place substantial orders without hesitation, while also ensuring to take profits and stop losses. However, this is not advised for those without a solid foundation and serious commitment to trading.

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