In the contract market, those who experience liquidation and significant losses generally share the following common characteristics. If you do not overcome these issues, you will continue to incur losses!
1. Heavy trading. (30%~50% position)
2. Stubbornly holding on, never admitting mistakes (always thinking it will turn around)
3. Not setting stop-loss orders, always accustomed to manually closing positions, which leads to being unable to react in extreme market conditions.
Some people feel that operating with a 10% position is too small. The profit is too little. However, I advise everyone to never expect to get rich overnight. Steady progress, achieving over 10% profit on the total account daily is very considerable over a month.
Heavy trading is the main reason for liquidation. Using a large proportion of leverage with heavy positions has a very low risk tolerance. Always wanting quick success and getting rich overnight will only lead to worsening results.
Light trading with small amounts, going with the trend; steady and gradual, accumulating little by little. When your account funds have doubled, withdraw your principal. At that time, your mindset will become clear, and the speed of profit will be very fast.
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