When trading contracts in the cryptocurrency circle, pay attention to these key points:
First, you need to have a risk awareness. Contract trading has high leverage; you can double your earnings, but losses can also wipe you out. Assess how much risk you can bear before diving in with heavy investments; otherwise, even a small mistake could lead to losing all your principal.
Setting profit-taking and stop-loss levels is extremely important. Set your points in advance; when you make a profit, secure it, and if you hit your stop-loss line, don't hesitate—exit quickly to prevent further losses.
Don't forget about money management. Don't put all your money on a single trade or one type of contract; diversify your funds and operate based on different strategies.
Always keep an eye on the market. News and policy changes in the cryptocurrency space can greatly influence trends, such as a country cracking down on digital currencies or a particular cryptocurrency undergoing technological innovation; you need to be aware of these.
Trading strategies are also essential. Short-term, medium-term, and long-term strategies each have their applicable scenarios; choose based on the market and your own situation. Avoid trading too frequently; when emotions run high, mistakes are inevitable.
Recently, the 𝑝𝑢𝑝𝑝𝑖𝑒𝑠 project themed around Musk on the Ethereum chain has become very popular, similar to the previous shib trend. The concept is quite novel, and if investors are interested, it's worth taking a look, as you might discover a potential cryptocurrency for the future.