1. Position management
If you haven't realized the importance of position management, it means you haven't left the novice village yet. You are still in the pure novice stage! It can be said that position management determines how long you can survive in the cryptocurrency circle in the future. You must cherish your bullets. There is no shortage of opportunities in the cryptocurrency circle, but don't let the opportunity come and you have no bullets to rush. (Don't fill your position, wait for the opportunity)
2. Stop loss in time
When placing an order, you must set a stop loss and learn to accept defeat. Especially for contracts, if you don’t know how to stop loss, you are just giving money to the dealer. Don’t take chances and try to carry an order. If you carry it back nine times out of ten, you will be complacent and think that you can carry it back, but it only takes one time for the dealer to kill you.
3. Keep a steady mind
It is normal to win or lose in currency trading. I have seen too many people who lost money and then got carried away, wanting to make up for it immediately, and made many crazy moves, but ended up losing everything overnight. This goes back to what I said before, when you open an order, you have already thought about where to put the stop loss, so you already know how much you will lose when the stop loss is reached. These are all things you have thought about before opening an order, so if the stop loss is reached, you should relax, maintain a good mentality, and find a good opportunity to fight again later.
4. Don’t be prejudiced
It would be best if you know some techniques, but if you don't, don't be biased. I have a friend like this. He has a bias and thinks that the market will fall. Now the dog dealers are deliberately pulling the market to force a short, and now the main force is holding it up. To be honest, I don't know where he got his confidence from. The market changes rapidly, and we can't say I think, I feel, I believe, I firmly believe, etc. When the market changes, we must change our thinking in time! If we are wrong, we must admit it, and if we are beaten, we must stand at attention!
5. Pay attention to the profit and loss ratio
If the above points are to make you live longer in the cryptocurrency circle, then the profit and loss ratio determines whether you can make money in the cryptocurrency circle. Many people do contracts blindly, and many things have not formed a system. Anyway, they just rely on their feelings, and they don’t leave themselves a way out. They are all emotional transactions. They don’t stop profits when they make a lot of money, and they don’t stop losses when they lose a lot.
6. How to decide whether to enter the market
Taking myself as an example, if one of the following two conditions is met, I will do it.
1. Through technical analysis and prediction, I am more certain about whether the market will rise or fall, so I do it.
2. Although the technical analysis is not very confident, for example, it is not very sure to be bullish, but the current point is very good. It is predicted that there is not much room for decline, but there is a large space upside and the profit and loss ratio is high, so it can also be done.

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