1W knife entry contract, tripled in 10 days
Here are some of my insights on trading contracts:
1. Your mindset must be stable. When I first started trading contracts, I divided my 10,000 into 5 parts, with each part being 2,000. I would operate on one part at a time. At the lowest point, I lost 4 parts and told myself that if the fifth part was lost, I would stop trading. I must play the last part cautiously.
2. It's essential to summarize your experiences. From the four parts I lost earlier, my personal takeaway is to avoid greed. This is a common problem. The first time I saw the contract cryptocurrency I bought multiply by 5, I was reluctant to sell, and the next day it plummeted.... I regretted being greedy..
3. Learn to take profits and cut losses in a timely manner. Set a target. I usually select two cryptocurrencies to trade from popular sectors or the top 10 by trading volume. I typically aim to buy when the price is down by 5%-8% from its value at 10 AM that day and sell when it doubles.
4. Reserve enough margin. Trading contracts can lead to losses, so please make sure to set aside sufficient margin. I generally reserve 1/3 of my margin to endure minor fluctuations.
5. Lastly, the money I earn from trading contracts, I usually take 3/5 to buy the platform's spot coins or other mainstream coins, while the remaining is reinvested in contracts. Buying platform coins is to increase my risk resistance.
On Saturday, I took a short position in MOODENG with fans, achieving a 30% profit.
Friends who are currently confused and lack direction in trading can follow me, comment with '1' to help you get rich.
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