In one sentence: left side!
When I first started trading, I always believed in the textbook approach of right-side trading and strict stop-loss being the safest. After practicing many times, I found it was all wrong. The classic texts on futures trading are decades old; back then, computer technology was not widespread, and information was not well developed, so it was completely correct at that time! But now it is completely wrong! Various false breakouts and traps in right-side trading will slowly erode all your capital. In the modern futures market, especially in the modern cryptocurrency contract market, only left-side trading is suitable. Left-side trading combined with low leverage, diversified positions, and light positions for steady trading will allow you to sleep well. Cryptocurrency contract trading has huge fluctuations, with a 10% volatility occurring very commonly within minutes. If you use five times leverage, a 10% drop can lead to liquidation. Human nature will lead you to explode on the spot, unable to sleep, missing all market movements, and constantly stopping losses. True left-side trading is with a big picture perspective, using very small costs through tiny ranges, with small breakthroughs leading to medium breakthroughs and ultimately big breakthroughs, reaping hundreds of percent in profit!!
A while ago, opening a position on BTC at 68288 was a typical left-side trade at the 15-minute level, ultimately waiting for a breakout at the 4-hour level, then a 1-day level breakout, followed by a 1-week level, and finally a 1-month level, eventually capturing all the gains between 68288 and 95688. Unfortunately, I just couldn't hold on; all my long positions were already taken for profit, and there is still expected to be a significant increase ahead, looking for another opportunity to jump back in.
Yesterday, the OP trade was executed very well, with a 400% profit in just a few hours, exiting for profit. The reason for the trade was that I saw the OP was dense and had not yet risen, and the consolidation lasted about four months, so a market move could happen at any time. Yesterday morning, I opened a long position at 1.61 near the lowest point with 10x leverage, and unexpectedly, last night it broke through the consolidation triangle. It was so sudden that I exited with profit. If I hadn’t exited, I could even have seen 3's OP.
Firmly believe in your own judgment, contract trading is a life-and-death situation; left side + waiting for good points + low leverage + diversified positions + light positions + small breakthroughs leading to higher-level breakthroughs.
This is a summary of my recent profitable thinking, written for myself, hoping not to get too carried away in future trades and to always stick to the correct trading rhythm.
