I will never trade contracts again! This is the most common saying among gamblers in the crypto world. I lost $2000 last night. Now, if you don't trade contracts, it's impossible to 'get rich.' Trading contracts with 100x, 50x, or dozens of U's, or hundreds of U's is still possible, but making money with thousands of U's at 100x is not sustainable. Just think about it; it’s obvious that if you have thousands of U's to play at 100x, your capital is a gamble on your life savings. There’s no way a newbie starts like that; you can't bear that number. Do you know how much the margin is? I believe there aren't that many fools in this world, so stop asking if there's a way to earn a million overnight. Trading contracts generally involves 5 to 20 times leverage. Turning $200 into $10,000 took about two months. After this wave of market changes, I don't know if it's still possible. My strategy is to find out which coin is being hyped through social media, then watch the market and the volume from the big players. By timing the trades, I can guess that the trading volume will be larger around 11 or 12 at night, and 2 or 3 in the morning. When I see a long-term bullish trend, I set my position when it crashes. For instance, if you have $100, the margin would be $100, and the position would be $20 with 20x leverage. Generally, 1 to 4 hours is a point. If it continues to drop, I keep trading. When social media traffic decreases, I understand that it's about to drop; it's a very simple theory. Social media traffic can be monitored using plugins for data. This strategy can be very easy to blindly follow because you trust yourself too much, so staying calm is crucial. During a continued drop, I would trade with dozens of dollars using 100x leverage for adjustments. Previously, I actually played with 5 or 10-minute 100x positions, but later I got scared because continuous earnings can make you overconfident, yet every five minutes, you might get wiped out. Newbies should avoid the crypto world now; those days of buying altcoins for hundreds of times are gone. When you hear about making a million from $1000, it's basically a scam. In my years of playing, aside from trading contracts during bull markets and mining in Sichuan and Harbin, there are hardly any who made big money. More often, those who played early had faith, thinking Bitcoin would be worth 10 million each in the future. Now, many hold around a hundred coins; back in 2017, I laughed at them for being foolish, saying they should buy coins if they had money. Currently, those trading contracts are mostly professionals and the experienced ones who can make some money, but only in good market conditions, with good luck, and on reliable platforms. Back when Dogecoin skyrocketed overnight, I wanted to cut off the boss of Huobi. If you really want to get into the field, start with a demo account, then slowly learn the ropes, and occasionally go on Twitter to 'pick up coins.' If you haven't experienced two bear markets, you have no idea how cruel it is—various market makers and platforms are not just annoying. I still can't understand how 'pulling the plug' is something humans can create. With $1000, play 10 or 20x contracts, set the margin to about 11-12.5% for stop-loss. Newbies shouldn't exceed this amount. If you earn more than $100, withdraw it, then keep playing; when the money comes out, that's real money. Control your mindset, and this way, your next deposit will hurt, leading you to start thinking. Don't recklessly invest $100, thinking you'll keep the profits when you hit $1000, or you'll be ruined after a few waves. Trading contracts is about mindset. If you have more money, reduce the position size; don’t start with 100x... that's for professional players.
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