To play contract trading well, you actually need to treat it as a profession, not just a casual activity. You have to put effort into the following aspects:
Capital management is the lifeline.
First, set a loss limit, for example, risk only 2%-5% of your total capital on each trade, so that even if you incur consecutive losses, it won't be devastating. Never add leverage purely for excitement, as a single mistake could lead to total loss.
Learn to observe market levels.
The 'volatility level' requirements for contract trading pairs are very high, such as the 1-minute and 5-minute charts that can only be mastered by experts, while beginners are more suited to studying the larger trends on the hourly charts. Don't be greedy and try out strategies that you are not yet capable of handling.
Refine your trading system.
This system is like your battle plan—clearly understand under what conditions to enter and exit, when to add positions, and when to stop losses, and strictly execute it. A good trading system takes time and experience to refine; initially, you can test with small amounts and continuously adjust.
Control emotions and execution.
Blowing up an account is often not a technical issue, but an emotional one. For instance, greed and unwillingness to accept loss, always thinking 'it can still rebound' or 'this time I will definitely recover my losses'. Contract trading requires a level of calm that is almost ruthless, strictly following the stop-loss plan without any illusions.
Focus and time investment.
The contract market changes quickly, requiring constant monitoring and rapid decision-making. If your time is limited, or you cannot fully commit, it will be difficult to do well.