Strategies for safely managing contract trading
In contract trading, how to ensure safety and reduce losses depends on following a series of prudent principles:
Be prudent and avoid impulsiveness
A big taboo in contract trading is impatience and greed. I remember that time, I was eager to make up for the loss and placed orders in a hurry, resulting in continuous liquidation. The lesson was profound. Therefore, before entering the market, you must analyze calmly and wait patiently for the best time. Similarly, when the grid trading trigger point is set, you should avoid making random adjustments due to fear of missing opportunities, because the results after adjustment are often not as expected. When making a profit, you must learn to stop when you are satisfied. Greed often leads to profit taking or even loss.
Select the target and allocate it reasonably
For newly listed currencies, because their data is relatively transparent, you can make a small-scale attempt by setting a reasonable stop loss point, which usually achieves a good profit-loss ratio. As for those meme coins that lack fundamental support and rely purely on hype, especially for large transactions, you should stay away from them. The prices of such currencies fluctuate violently, are easily manipulated by big players, and are extremely risky.
Make prudent decisions and return to the essence
For investors who are new to contract trading, the safest strategy may be to keep a distance and start with other low-risk trading methods, such as participating in airdrops, trading spot or mining. Although contract trading can bring quick returns, it also comes with high risks. Just like buying lottery tickets, the probability of winning is much smaller than the probability of losing. Therefore, it is better to keep a normal mind and enjoy
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