How should I adjust if I keep losing money when trading cryptocurrencies?
Mentality, trading system and luck are all indispensable.
Trading is often anti-human. Full-time trading requires overcoming more pain, misunderstanding, and loneliness. Also, don't deny yourself. Slowly find your own trading rhythm. Don't be whimsical when things go well, and don't belittle yourself when things go badly. Remember that the past cannot be reversed, but the future can be changed.
This is a market that eats people and creates myths. It is a paradise for speculators and a hell for gamblers. The 7*24-hour trading time makes people addicted, and the 100-fold leverage makes people crazy. I have experienced a 15-fold increase in one night and a loss of 40,000 U. Looking back, it is hard to describe the bitterness. I only talk about my own experience, hoping that you can understand speculation from another perspective and encourage each other.
It took me nearly two years to really make my first pot of gold in the cryptocurrency circle. I started trading cryptocurrency contracts in 2018. I was fearless at the time. I lost more than 800,000 yuan in half a year by relying on my own strength. I was still working at that time. Although most of it was my own savings, I didn’t dare to let my family know because they didn’t understand and support me from the beginning. I think the most uncomfortable thing is not how much money I lost, but the feeling of loss. The negative emotions under long-term pressure make me depressed.
In the next more than a year, I continued to make profits and losses, but I became more and more familiar with the trend of Ethereum, and slowly formed my own trading sense and trading rhythm. Perhaps due to good luck, in the 20-year bull market, with the skyrocketing ether, my trading system has become increasingly mature, my intraday swing trading points have become more precise, and my emotional control has also improved significantly. This year, in addition to making back the previous losses, I also earned an additional 800,000 U. Until now, my trading strategy has been to trade with 30,000 U, withdraw the currency when it doubles, and continue depositing and trading after taking a rest to adjust the position. This is also a way of capital risk control. In terms of operation, we only trade within the day, never overnight, never resist orders, avoid encountering extremely large market prices, and go directly to the top.
After 20 years of full-time trading, I have a better understanding of this market. It is really a year in the world. The market rotates between long and short positions. As long as there are fluctuations and a certain band is made, you can make money regardless of whether you are long or short. Therefore, sometimes you should try to avoid interfering with the objective trend of the market with your subjective judgment, because there are too many subjective judgments. Once the market goes against the trend, it is easy to carry the order. So no matter how the market goes, just trade with the trend. In fact, there are infinite opportunities in the market. As long as you try to avoid repeating mistakes, such as placing orders against the trend and holding heavy positions against the trend, you can keep your principal and make profits in the market.
If you don't know how to screen strong coins, I suggest you follow me. Whether it is spot or contract, a little shot may be your limit. The opportunity is short, so you must seize it! Success does not depend on luck, choice is greater than effort, and the circle determines destiny. In the currency circle, in addition to having a keen eye for judging the situation, you must also keep up with a good team and a good leader. If you follow me, you are already halfway to success in the currency circle!
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