Let me share a real case: A friend of mine saw that Bitcoin has been rising and couldn't help wanting to get rich overnight, so he found me who has been baptized in the cryptocurrency circle for many years. This friend used the hundreds of thousands of dollars he had saved from working for several years, and he couldn't wait to recharge it into Binance after get off work. I have always advised him not to have the idea of getting rich overnight, but he said that I was harming him if I didn't help him make money. I could only sigh helplessly and pray that nothing would happen to him, but the reality will not favor you. The moment he opens a position, you are already a lamb to be slaughtered, a fresh leek.
I have a few suggestions for friends who are entering the cryptocurrency world:
Many friends enter the cryptocurrency circle with the mentality of getting rich overnight. In fact, this mentality is very dangerous.
Many people use 30-50 times or even 100 times leverage. As soon as the money is invested, it is all lost overnight!
There are two types of high leverage
First: He is a gambler who likes to go all in with a small investment and has no way out!
Second: There is another type of novice who does not learn how to operate and does not know how to plan his position well, so his investment returns to zero before he even starts playing the contract!
Position management is very important in this aspect of contracts. How can we maximize the benefits of funds while avoiding risks?
