Here are some tips for making money in cryptocurrency contract trading:

Pre-Trade Analysis

- Fundamental Analysis: Pay attention to industry trends, policies and regulations, major technological advancements related to cryptocurrencies, as changes in regulatory policies may significantly impact coin prices.

- Technical Analysis: Learn to use technical analysis tools such as candlestick charts, moving averages, MACD, etc., to analyze price trends and trading data to identify trends, support levels, and resistance levels.

Capital Management

- Reasonable Capital Allocation: Do not invest all your funds into contract trading; it is recommended to set aside a certain proportion of idle funds, such as no more than 30% of total assets, to avoid affecting personal finances due to trading failures.

- Control Leverage: Choose leverage based on your risk tolerance. Low-risk preferences can choose 5-10 times leverage, while high-risk preferences should not exceed 50 times to reduce the risk of liquidation.

Setting Trading Strategies

- Set Stop Loss and Take Profit: Stop loss can control losses, such as automatically closing positions when losses reach 10%-15%; take profit can lock in profits, such as taking profits promptly when gains reach 20%-30%.

- Gradual Position Building and Closing: Avoid one-time buying and selling; in an upward trend, gradually increase positions, and in a downward trend, gradually reduce positions to lessen the impact of market volatility.

Control Trading Mindset

- Stay Calm and Rational: Do not be swayed by emotions, avoid being reluctant to close positions due to greed when prices rise, or hurriedly cutting losses due to fear when prices fall.

- Avoid Overtrading: Patiently wait for opportunities, do not trade frequently, and reduce mistakes caused by impulsive and blind operations.

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